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QUESTION:
I am a U.S. citizen by birth and have worked and resided in the U.S. my entire life. However, I recently discovered that, because my mother was a Canadian citizen, I appear to be eligible for Canadian citizenship under the transitional provision of the Canadian Citizenship Act of 1977, paragraph 5(2)(b) but my application must be made before 14 August 2004.
My general question is whether obtaining dual citizenship offers any advantages and, if it does, whether they outweigh any resulting disadvantages.
I recently retired. My income is in the form of a pension, SRA, interest, and dividends, all from U.S. sources. I am a U.S. resident and, at least for the foreseeable future, intend to remain one. I have a U.S. passport. Beginning in 2006, I plan to spend several years traveling the world with, at most, only infrequent and short return visits to the U.S.
Under these circumstances, what are the advantages and disadvantages, if any, of dual U.S.-Canadian citizenship? What rights and responsibilities will I be giving up or obtaining? In particular: Will it affect my entry and exit into other countries and my status while inside a country? Will it affect the income or other taxes I am obligated to pay?
Regards,
David Guenther
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david ingram replies:
Great Question, In my opinion there is no disadvantage of this dual citizenship for an American becoming a Canadian.
In your travels, there are some countries that will likely welcome you more as a Canadian than as an American.
There "is" in reverse because the Canadian would now have to file a US tax return every year for the rest of their life.
Canada does not require such a return unless you are living here.
While you are traveling the world, you will still have to file a US tax return. A Brit or Australian or Canadian would not have to file a return in their home country if they established their residence in another country. - Goto www.centa.com and read the [US/Canada taxation] section for more information or insight.
It is tax season and I do not have time to do this justice, so go to www.centa.com and read the [October 1993] newsletter I wrote on dual citizenship. You should find all your answers there.
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