Fast Forward - MA26/26 - Thinking About Leaving Canada? What Happens to Your Policies.

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Thinking About Leaving Canada? What Happens to Your Policies. A question that's been coming up recently - and the answer depends entirely on how your policies are owned. For personally owned policies - better news than most expect. No exit tax consequences. Keep a Canadian bank account, and your policies continue working from anywhere on the planet. One thing most overlook - as a non-resident, you can no longer buy new whole life policies. This is where early planning and the right conversation with your advisor matters most. For corporate owned policies - pre-planning is everything. The cash surrender value increases your share value and can directly impact your exit tax bill if the right steps aren't taken in advance. Don't let the tax complexity distract you from why you built this. The banking problem doesn't change regardless of which country you call home. What you've built here, most countries can't offer you. Curious what this brings up for you once you watch it.