How to deal with domestic assets after immigrating to Canada?

Here, it is necessary to explain one thing first. If China immigrates to Canada only to obtain permanent residency and does not give up their nationality, then their rights to domestic assets will not be affected. What really needs to be concerned about this issue is the Chinese who have been naturalized in Canada.

Of course, even if you have been naturalized in Canada, it does not mean giving up your domestic assets. As for the change of domestic assets, it needs to be analyzed in detail.

First, the nature of China's assets when red passports are exchanged for blue passports.

After the passport is changed, the nature of the enterprise will not change because of the change of shareholders' immigration status. According to the provisions of the Ministry of Commerce on the merger and acquisition of domestic enterprises by foreign investors: Article 55 If the natural person shareholder of a domestic company changes his nationality, the nature of the company will remain unchanged, and the nature of holding and inheritance will remain unchanged.

Second, about the new investment after the identity change.

Based on the principle of source of capital contribution, China has a system of access and approval for foreign investment, which can be used for reference by the Table of Safety Review Industries and the Catalogue of Guiding Industries.

3. Property purchased and held in China after naturalization.

Overseas individuals can only buy 1 house for self-occupation in China. Overseas institutions that set up branches and representative offices in China can only purchase non-residential houses needed for office work in registered cities. The requirement of purchase is real-name purchase plus valid documents.

Overseas individuals holding real estate in China enjoy national treatment in property tax collection, and the tax rate refers to Document No.20093.

Four, after naturalization, contractual rights and interests in China (deposits, stocks and securities, commercial insurance, etc.). ).

After naturalization, the original contractual rights and interests in China (including deposits, stocks and bonds, commercial insurance, etc. ) enjoy national treatment and will not change because of the change of immigration status.

It should be noted that once the original Canadian passport is changed, all social insurance in China will be invalid. Because the China municipal government stipulates that social insurance is the right of China citizens, not China citizens, they naturally cannot enjoy social security rights. Of course, the balance of social security account funds paid by individuals can be taken away, and the social security branch paid by the original unit will be turned over to the public.

Verb (abbreviation of verb) on inheritance and transfer of property

In terms of property inheritance, it means that the property is in China, according to the laws of China, and in Canada, according to the relevant laws of Canada.

The transfer of property is based on the legal principle of the location of the property. Regarding the property transfer tax, the method of withholding from the source is adopted. As for the tax on the transfer of domestic assets by immigrants, according to the tax agreement between the two countries, non-residents of a country can obtain taxable income in that country, and if they meet the conditions, they can collect income tax in the form of reduction or exemption. The tax of non-residents in their country of residence is deducted from the amount withheld from the above sources.

6. How to avoid tax reasonably and legally?

Commercial insurance and property gift can be said to be two more reliable ways.

Insurance-the function of insurance to avoid inheritance tax, because domestic insurance claims are exempt from income tax.

Gift-the gift between legal heirs is free, and the maintenance and maintenance obligors are also free.

Some knowledge of taxation and insurance in Canada.

There is no inheritance tax in Canada, but there is FinalTax in Canada, which is actually a disguised inheritance tax. Because of the cost of heritage certification and implementation, the final tax rate is about 50%. The key point is that once the death is confirmed, all assets are frozen, and the legal heir must pay the final tax before disposing of the assets. If they have no money to pay the final tax, sorry, these assets cannot be inherited.