withdraw money from Business bank account as Non-Resident.

[Johnparker]

Hi,

we are holding Canadian PR status but we moved to US since last 2 years as we received green card in US. As we are living physically in US, We became Non-residence in Canada for tax purpose.
However, we left behind a active Canadian corporation and business bank account. Our business bank account has some money which we didn't withdraw since last 2 years.
we are planning to close the corporation and business account as well.

Please advice , what are the legal options to withdrawal money from business account as we became non-resident ?

if anyone was in same situation, please share your experience.


Thanks,

 

[steaky]

Hi,

we are holding Canadian PR status but we moved to US since last 2 years as we received green card in US. As we are living physically in US, We became Non-residence in Canada for tax purpose.
However, we left behind a active Canadian corporation and business bank account. Our business bank account has some money which we didn't withdraw since last 2 years.
we are planning to close the corporation and business account as well.

Please advice , what are the legal options to withdrawal money from business account as we became non-resident ?

if anyone was in same situation, please share your experience.


Thanks,

I suggest you hire a cross-border chartered accountant to sort it out. You might have to file a Canadian non-resident tax return.