For expats planning to move back to Canada, there’s a lot to consider. Aside from visa considerations, home sales, and finding a new place to live, there are financial matters that must be addressed, such as taxes and investments. Nobody wants a hefty tax hit their first year as a Canadian resident, so it’s important to have professionals to guide you through the process. Go here ex-ponent.com

When choosing an adviser, look for someone who understands cross-border planning for Canadian and US citizens. They should be familiar with the tax implications of TFSAs, RRSPs, mutual funds, life and disability insurance, and property ownership, among other issues specific to expats. In addition, they should be experienced in working with the CRA and IRS and be able to advise on strategies to minimize U.S. taxes and avoid double taxation.

Investing Abroad for Canadians: What You Need to Know About Offshore Investments

The pre-move phase is critical and requires a list of all assets (registered and non-registered accounts, bank accounts, properties and trusts) as well as a review of all deductible expenses. This will allow for proper re-alignment of all investment vehicles prior to the move, as well as an opportunity to make any necessary changes to insurance policies that may not provide coverage in both countries.

A good adviser will explore local investment options and ensure that any Canadian investments are properly aligned with your long-term goals. They’ll also help you make an informed decision about whether to buy vs rent – or, if buying, which location is best for your future plans.