Options for your CAD Non-registered assets when moving to the U.S.

The strong U.S. dollar has created new challenges for those moving to the United States from Canada—but understanding these challenges, and your options, can help you to navigate the financial transition as smoothly as possible.

Here’s the background. The Canadian dollar is currently valued around 0.80 versus the U.S. dollar, a big departure of 0.90 to 0.95 seen in the summer of 2014. With the currencies so closely valued in the past, many individuals elected to convert their bank and non-registered (taxable) investment-account funds to U.S. dollars, and move them to a U.S. bank or custodian.

After all, if you live in the United States and your living expenses are denominated in U.S. dollars, having much of your liquid net-worth in the local currency makes sense. Furthermore, converting and moving Canadian non-registered accounts to the United States simplifies tax and foreign-account reporting requirements. It also provides for better investment opportunities, including those that are more tax efficient. And it helps to simplify your financial and estate planning.

A Canadian dollar at 0.80 complicates things, however, as most clients naturally do not wish to convert funds at a 20% discount. So let’s look at the options available to individuals or families who do not want to convert their non-registered accounts to U.S. dollars.


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Questions To Ask When Starting Up A Business In Singapore?

As one of the world’s easiest place to do business, it only makes sense if you are planning on starting a business in Singapore. With enough funds and sturdy business plan, you can on your way to becoming your own boss in the next few weeks. And to help make your way to your business goals a lot easier, here’s list of questions that you need to answer when starting a business in Singapore.

Business Loan

Do you have all the requirements you need?

Collate all of the necessary requirements that can prove that you are capable of starting and maintaining a business. You have to ensure that there will be no loopholes in your plans so you can execute each of them smoothly. You also have to ask for help from the right individuals who will help pave your way to success.

Do you have the right business name?

Once you have gathered all the requirements, your next step is to register the name of your business. To reserve a business name, you can send your application online through Bizfile. Do a lot of research before reserving a name to ensure that your preferred name is unique, non-offensive and of course not yet in use. You can check for trademarks online at the Intellectual Property Office of Singapore or IPOS.

Do you know how to set up an incorporated company?

The government of Singapore has two types of incorporated companies, which includes Private Limited Companies and Public Companies. A Private Limited Company is when the shareholders is only limited to fifty or less. These shareholders have restrictions on the right to transfer its shares. As for the public companies, there can be more than 50 shareholders and the company can raise capital by offering shares to the public.

These are just some of the questions to bear in mind before starting a business in Singapore. By doing an online research, you will find more than enough information to guide you as you strategize your next step to putting up an enterprise. For more information, you may contact Capitalize for reliable and expert advice.

Small Business Loans

Capitalize is a corporate loans specialist firm that helps Small Medium Enterprises (SMEs) and individuals to seek, source and obtain capital from across our established network of up to 30 banks, financial institutions, funding houses and alternative platforms. We are always committed to provide our clients with the most suitable loans according to their needs, from the lowest interest rates possible and at the quantum they require.

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