Boily Handfield assists newcomers in their settlement and long-term integration in the Canadian business sphere. To be successful in this process, it is essential to overview the financial and tax planning prior to the arrival in Canada.
The lack of preparation can lead to costly damages including taxes, interest and penalties and even bankruptcy in some cases. Accordingly, we offer to newcomers a comprehensive evaluation of the financial and fiscal impact of their settlement in Canada and the pro-active solutions to minimise their cost.
Our process is simple: we first assess the actual list of assets and liabilities of each candidates and estimate, following a thorough interview, the fluctuation of assets, the required transfer of funds to Canada throughout the years and the tax impact for each type of assets and investments on a short, medium and long term basis.
The result will be a detailed recommendation as how the assets should be held as there are many tools of ownership in Canada such as corporation, trust, partnership, etc. The chosen structure will be designed according to each particular cases as there are no «one size fits all» solution. All this will be done in order to maximize the increase of asset value and minimise the taxes as little as possible within the permitted law.