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Canada Country Profile

Passport
For more details visit Canada Passport Ranking
  • Passport Grade
    A
  • Passport Ranking
    38/198
  • Passport Score
    174.4/198
  • Visa-free Countries
    157
  • Visa-required Countries
    41
  • Access to the World's GDP
    75%
  • Access to the World's Surface Area
    60%
  • Access to the World's Population
    46%
  • Access to the Unesco Sites
    80%
Citizenship and Naturalization
Birthright citizenship (Jus Soli)
  • Birthright citizenship (Jus Soli)
    Yes
    Unrestricted: Any child born in the country automatically becomes a citizen.
Naturalization - Standard Conditions
  • Minimum residency period
    3 years
    To apply the soonest (3 years), must live in Canada uninterruptedly. The timeline extends if you spend significant time abroad each year.
  • Physical presence requirement
    Must spend at least 1,095 days (3 full years) during 5 years immediately before the application
  • Language test
    Yes, English or French
  • Need to renounce original citizenship?
    No
  • Can minor children naturalize?
    Yes
  • Can naturalized parents pass citizenship to a child born abroad?
    Restricted
    Canadian citizenship is limited to the first generation born outside Canada only. E.g., a child born to a Canadian parent will inherit Canadian citizenship, while a child born to a Canadian grandparent will not.
  • Can you lose naturalization due to prolonged absence/ naturalization elsewhere?
    No / No
Naturalization - Your Spouse is a Citizen
  • Living IN the country: Residency/marriage requirement
    No provisions
  • Living ABROAD: Marriage requirement
    No provisions
  • Language test
    No provisions
  • Need to renounce original citizenship?
    No provisions
Naturalization - Other Beneficial Provisions
  • Your child is a citizen
    No provisions
  • Citizens of specific countries
    No provisions
"–": The provision has not been analysed.
Taxation
For more details visit Cost of Living
  • Taxation Type
    Residence-based
A tax resident of a country with a RESIDENCE-BASED tax system pays taxes on their WORLDWIDE income. However, if you lose tax residency status there (e.g., by moving out), the country will generally stop taxing you.
Schiff Sovereign's Take on Canada
Chances are, you already know enough about Canada, a.k.a. America-Lite. Thus, we will be brief when talking about the lifestyle there.

In terms of whom Canada might be right for, students top the list in our view. Education quality is high in Canada. We know Americans who attended McGill University and loved it… and spent far less than they would have at a comparable university in the US.

Canada also could be a great option to consider for residency. You can become a permanent resident there without ever setting foot there. 

And since Canadians (at least, pre-pandemic) enjoy visa-free access to the US for up to six months at a time, a Canadian passport can be a great replacement in case you decide to renounce your American one, but still want to have access to the US.

And once you become a citizen there, you can move out of the country, break the necessary ties to it, and disconnect from the Canadian tax system entirely (something that US citizens cannot do unless they renounce their citizenship.)

Of course, if you like the cold, then Canada might also be a great place to retire and receive (mostly) free healthcare.

But we wouldn't hold too much money in Canada. Canada has the least capitalized central bank in the developed world. Its margin of safety, in fact, is almost zero.

On top of that, Canada passed formalized bail-in legislation: Whereas bailouts are used by governments (i.e. taxpayers) to rescue the banking system, bail-ins force depositors to rescue the banks. 

At the same time, opening a Canadian bank account can still make sense for specific situations. Their customer service is great. People will talk to you in English, the banks are efficient, and opening an account is actually an easy process there (your personal presence is required though).

Just make sure you don't end up on the wrong side of the government. The 2022 anti-Covid protests led to government oppression, and the seizure of bank accounts of people who dared to openly support the protesters.

So much for freedom of speech in that country…
Schiff Sovereign's Rolodex
Service Providers available in Canada
  • Immigration (residency, citizenship)
  • Tax advice (attorneys and/or accountants)
  • Asset protection (specialized LLCs, trusts, etc)
  • Corporate services (company formation, etc.)
Obtain access to our Rolodex by signing up for Sovereign Confidential Join Sovereign Confidential Today

Sovereign Global Explorer

Benefiting from over a decade of our team’s boots-on-the-ground experience, Global Explorer is where your international journey begins.
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Canada Overview
  • Region
    North and South America
  • Capital City
    Ottawa
  • Largest City
    Toronto
  • Currency
    Canadian dollar
  • Languages
    English, French
  • Population
    39 million (37th)
  • Life Expectancy
    83.8 years (6th)
  • GDP (Nominal)
    $2.2 trillion (8th)
  • GDP/Capita
    56443.74825 (16th)
Useful Data
For more details visit Cost of Living
  • Cost of Living
    Expensive (5/7)
  • Climate
    Bearable (4/5)
  • Safety
    Very Safe (2/7)
  • Pollution
    Very clean (1/5)
  • English Proficiency
    Native

Sovereign Global Explorer

Benefiting from over a decade of our team’s boots-on-the-ground experience, Global Explorer is where your international journey begins.
Explore Now
Found a mistake /
Have a suggestion ?
Please let us know if you spot any inaccuracies on this page or have a suggestion on how to make it even more useful.
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PREMIUM REPORTS
Canada inside Schiff Sovereign resources
Resource TitleProductTypeDate
No Tax, All Gain: Crypto Havens of 2024Sovereign ConfidentialSMCAlert23-Apr-2404/23/24
The Best Countries for Birth TourismSovereign ConfidentialSMCAlert06-Nov-2311/06/23
May 2023 SC Q&ASovereign ConfidentialSMCQ&A30-May-2305/30/23
Do You Speak French? You Could Be Eligible for a French Passport TodaySovereign ConfidentialSMCAlert04-Nov-2211/04/22
July 2022 SMC Q&ASovereign ConfidentialSMCQ&A28-Jul-2207/28/22
A Roundup of Naturalization Rules & Timelines in the AmericasSovereign ConfidentialSMCBlack Paper27-Jun-2206/27/22
A Common-Law Partnership Can Lead to Foreign Residency Similar to MarriageSovereign ConfidentialSMCAlert06-Jun-2206/06/22
April 2022 SMC Q&ASovereign ConfidentialSMCQ&A29-Apr-2204/29/22
Where In The World Are Vaccine Mandates Unconstitutional?Sovereign ConfidentialSMCAlert05-Nov-2111/05/21
These 10 countries offer university graduates residency and a Plan BSovereign ConfidentialSMCAlert12-Aug-2108/12/21
Global Cyptocurrency Regulations and Taxation: A RoundupSovereign ConfidentialSMCAlert10-Jun-2106/10/21
December 2020 SMC Q&ASovereign ConfidentialSMCQ&A30-Dec-2012/30/20
Obtain these foreign residencies without leaving your home countrySovereign ConfidentialSMCMonthly Letter15-Dec-2012/15/20
Location DOES matter: The BEST way to protect the equity in your homeSovereign ConfidentialSMCAlert24-Jul-2007/24/20
February 2020 SMC Q&ASovereign ConfidentialSMCQ&A29-Feb-2002/29/20
Take these exact steps to boost your chances of obtaining Canadian residencySovereign ConfidentialSMCAlert25-Feb-1902/25/19
Canada: Apply today for permanent residency in this peaceful, welcoming countrySovereign ConfidentialSMCAlert05-Feb-1902/05/19
November 2018 Q&ASovereign ConfidentialSMCQ&A30-Nov-1811/30/18
Best startup programs around the worldSovereign ConfidentialSMCBlack Paper05-Oct-1810/05/18
Golden Visas - a Roundup of Economic Residencies around the WorldSovereign ConfidentialSMCBlack Paper06-Jul-1707/06/17
Sovereign Man Country Rankings: The Right Country for YOU, with Simon's insightsSovereign ConfidentialSMCBlack Paper06-Apr-1704/06/17
Here’s How to Prepare for April Tax FilingsSovereign ConfidentialSMCMonthly Letter15-Feb-1702/15/17
A Holiday Guide to Sovereign Gift-givingSovereign ConfidentialSMCMonthly Letter15-Dec-1612/15/16
These countries could give you a second residency or passport in 2016Sovereign ConfidentialSMCMonthly Letter14-Oct-1610/14/16
Banking in Canada: Why we opened a bank account in this imperfect countrySovereign ConfidentialSMCAlert25-Aug-1608/25/16
How to disconnect from the Canadian tax systemSovereign ConfidentialSMCAlert28-Apr-1604/28/16
Meet FATCA’s even nastier cousin: CRSSovereign ConfidentialSMCAlert26-Feb-1602/26/16
Canadian Foreign Income Verification Statement – What you need to knowSovereign ConfidentialSMCAlert09-Dec-1512/09/15

Articles featuring Canada

Renminbi
International Diversification Strategies

Still happening: Canada just became North America’s first offshore renminbi hub

November 10, 2014 Santiago, Chile It’s happening. With increasing speed and frequency. The People’s Bank of China and the Canadian Prime Minister’s office issued a statement on Saturday stating that Canada will establish North America’s first offshore renminbi trading center in Toronto. China and Canada agreed on a number of measures to increase the use […]
Trends & News

Canada proposed Orwellian “pre-crime” hate speech bill

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice. Canada plans to punish hate speech pre-crime If passed, a bill in the Canadian legislature will punish online or […]
Trends & News

Canada public health wants children in solitary confinement

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice. White People Shouldn’t Translate Black Poetry Amanda Gorman— a poet who happens to be Black— rose to notoriety after […]
International Diversification Strategies

Escape to distant, exotic lands… like Canada?

Last Tuesday night, around 10:30pm the Google search term, “How to apply for Canadian citizenship,” spiked. Other popular searches that night included “how to move to Canada” or simply, “move to Canada.” This was in response to two men in their 70s childishly bickering at each other for an hour and a half, televised live […]

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