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Is It Legal To Own An IBC, Bank Accounts, & Investments?

April 26, 2017bank accounts IBC investments Legal

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Is It Legal To Own An IBC, Bank Accounts, & Investments?

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Absolutely. Because Canada encourages International trade and investment, there are few restrictions on residents doing business or having bank accounts in other countries. Offshore investment vehicles are used every day by sophisticated and knowledgeable high net-worth individuals and corporations all over the world. Revenue Canada wants you to report your world-wide income, and any interest you have in an offshore entity. We have provided a Reporting Requirements report on this web site for your reference and encourage you to print it and read it carefully. We can also refer experienced Canadian legal counsel to guide you through common concerns, and comment, or provide clients with a written opinion on our legal structures.