NRI Money Clinic — Canada

The NRI Money Clinic, built for NRIs in Canada

Between T1135 foreign asset reporting and how Canada taxes worldwide income, most Canada-based NRIs are carrying more risk than they realise.

What's different for NRIs in Canada

  • T1135 foreign income verification — Canadian tax residents holding foreign assets, including Indian bank accounts, property or investments, above a threshold generally must report them annually — frequently missed.
  • RRSP/TFSA vs Indian investments — Canadian tax-advantaged accounts don't have a direct Indian equivalent, and Indian mutual funds don't get the same treatment inside Canadian tax rules.
  • Departure tax — if you eventually leave Canada, a “deemed disposition” rule can trigger tax on unrealised gains, which needs advance planning.
  • India-Canada DTAA — determining which country taxes what first, and how to claim relief.

Every NRI Money Clinic session still runs through the same three stages — financial diagnosis, prescriptive solutions and, where needed, remedial care — applied specifically to the rules that govern NRIs in Canada.

CA

Ready to start?

See full pricing and request your free initial review on the main NRI Money Clinic page.

View pricing & book →

Common Questions

NRI Money Clinic FAQs — Canada

Do I need to report my Indian bank accounts to the CRA?

If you're a Canadian tax resident and your foreign assets exceed the reporting threshold, generally yes, under T1135 — this is one of the most commonly missed obligations we see.

Are Indian mutual funds tax-efficient for someone living in Canada?

Usually not in the same way they are for Indian residents — Canadian tax rules can treat them less favourably than RRSP-eligible investments.

I might move back to India in a few years — what should I plan for now?

Understanding Canada's departure tax rules before you leave is important, since it can apply to gains you haven't actually realised yet.

Should I be investing through Canada or through my NRE account?

It depends on your timeline, goals and currency view — we look at both sides together rather than optimising one in isolation.

Other Regions

We also work with NRIs in these regions.

US

NRIs in the USA

Country-specific guidance for NRIs based in the USA.

Learn more →
UK

NRIs in the UK

Country-specific guidance for NRIs based in the UK.

Learn more →
AE

NRIs in the UAE

Country-specific guidance for NRIs based in the UAE.

Learn more →

Have a question specific to your situation in Canada?