Can I keep my Canadian bank account?

Generally yes, but it counts as a secondary tie. Notify the bank of non-residence so withholding tax is applied correctly.

What happens to my RRSP and TFSA?

RRSPs are fine to keep; withdrawals attract withholding tax. TFSA contribution room stops accruing and new contributions become problematic for non-residents.

← Digital nomadsLeaving Canada

Canadian digital nomads: a legal pathway to zero personal income tax.

Residential ties decide — and the CRA reads them strictly.

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The risk

What Canada keeps hold of.

Canada does not use a day-count test for residency. The CRA looks at primary ties (home, spouse, dependants) and secondary ties (bank, driving licence, healthcare). Many would-be nomads remain factually resident.

Departure tax
Deemed disposition of most assets at fair market value on the date of departure. Real estate and Canadian pensions are excluded.
Factual residence
A home available for use, a spouse in Canada, or dependants typically keeps you resident regardless of days.
Provincial residency
Healthcare and provincial tax filings depend on provincial residency, which has its own tests.

Recommended pathways

The cleanest landings for Canadian founders.

Sever ties cleanly: close the home or rent it out at arm's length, move dependants, file the departure return. UAE and Panama are the most common landings.

UAE

UAE residency (Dubai)

Free-zone or mainland company plus a residency visa. Tier-one banking and a credible substance story when paired with a real office and visits.

Tax outcome: 0% personal income tax. 9% corporate tax above AED 375k (free-zone qualifying income can stay 0%).
Presence: Visit once every 180 days to maintain visa; 90+ days/year recommended for tax residency certificate.
Watch-out: Substance matters. A shell with no presence will not defend you against your home country's tax authority.

Panama

Panama Friendly Nations visa

Residency for nationals of 50+ countries via a local company or qualified employment. Strong dollarised banking and territorial taxation.

Tax outcome: Territorial: foreign-source income not taxed. 25% on Panama-source income above threshold.
Presence: Visit at least once every 2 years; 183+ days for full tax residency.
Watch-out: OECD pressure on territorial regimes is real — keep clean accounting and avoid round-tripping income.

Paraguay

Paraguay permanent residency

Permanent residency obtained on a short trip. Foreign-source income is not taxed. Useful as a backstop residency or to break ties with a high-tax home country.

Tax outcome: Territorial: foreign-source income not taxed locally. 10% on Paraguay-source income.
Presence: One visit every 3 years to keep the card active. 120+ days/year for tax residency certificate.
Watch-out: A Paraguay card alone does not break tax residency in Germany, the UK, Australia, etc. — pair with real relocation.

FAQ

Questions Canadian nomads ask.

Can I keep my Canadian bank account?: Generally yes, but it counts as a secondary tie. Notify the bank of non-residence so withholding tax is applied correctly.
What happens to my RRSP and TFSA?: RRSPs are fine to keep; withdrawals attract withholding tax. TFSA contribution room stops accruing and new contributions become problematic for non-residents.

Next step

See how we'd secure your pathway, legally.

A 30-minute introduction with a partner. We map your Canada exposure and the cleanest landing for your situation.

Book a 30-minute call

Other countries

For American nomads →

From Australia

For Australian nomads →