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Moving to India for a couple years on OCI - what to do with TFSA/RRSP

Blueuniverse

Star Member
Jun 16, 2017
66
32
Toronto
Category........
CEC
Visa Office......
Toronto/Scarborough
Hi guys, I know my situation would require me to discuss it with a Canadian tax consultant, but just wanted to get an idea what to expect incase I firm this idea. I am planning to move to India for 2-3 years on OCI, leaving my job in Canada but will keep my belongings here - furniture, car, etc. I don't own any real estate in Canada or India, but I do have money invested in TFSA and RRSP (almost maxed out). I am also planning to work in India for the time I would stay there, and totally okay with filing taxes in India and Canada both, but wanted to check that according to India and Canada tax treaty, would I be taxed in India on my capital gains on growth stocks in my TFSA. If anyone wants to move there for a 2-3 years, is it advisable for them to sell all positions in their TFSA and cash them out or there any way I can keep them without paying a ton of money to Indian income tax department. Also what about RRSP? RRSP growth would be taxed the same way as well? Any advice or a direction would be appreciated.

Thanks! _/\_