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Life After The Green Card How soon can you leave your employer. All other issues after the green card.

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  #1  
Old 13th April 2007, 12:46 AM
tariqk tariqk is offline
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Do I need to keep a bank account at home?
I'm a Canadian and I'm 3/4 of my way to a Green Card.

Is there any purpose, for tax reasons or anything else, to keep a bank account back in Canada?

Any thoughts would be appreciated. I am also going to ask my accountant and if I get any feedback I will share it with the group.

T
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  #2  
Old 13th April 2007, 01:06 AM
TheRealCanadian TheRealCanadian is offline
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Quote:
Originally Posted by tariqk View Post
Is there any purpose, for tax reasons or anything else, to keep a bank account back in Canada?
No. Why do you feel you need to keep a foreign bank account?
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  #3  
Old 13th April 2007, 04:24 AM
isitanylonger isitanylonger is offline
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bad idea
Quote:
Originally Posted by tariqk View Post
I'm a Canadian and I'm 3/4 of my way to a Green Card.

Is there any purpose, for tax reasons or anything else, to keep a bank account back in Canada?

Any thoughts would be appreciated. I am also going to ask my accountant and if I get any feedback I will share it with the group.

T
On the contrary this is a bad idea as Revenue Canada (or whatever they are calling it these days) might decide that you still have "ties" to Canada and will tax you as a resident.
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  #4  
Old 13th April 2007, 11:17 AM
tariqk tariqk is offline
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Quote:
Originally Posted by TheRealCanadian View Post
No. Why do you feel you need to keep a foreign bank account?
It was sort of a legacy thing; I had a line of credit tied to that account and so I kept it open (with the grand sum of $1400 sitting idly in it, collecting dust) in case of a financial emergency. Now that I actually have a U.S. credit history there's no need for it anymore. Thanks for your replies. FYI my tax guy said there is no reason to have it, either.
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