Canada NRI Guide

Your Canada NRI Toolkit

Canada is home to 1.7 million Indians — one of the fastest-growing diaspora communities. The Canadian tax system is comprehensive, taxing residents on worldwide income, which makes cross-border financial planning essential.

What makes Canada different for NRIs

• Worldwide income taxation — Canada taxes residents on all global income, including Indian rental income, FD interest, and capital gains
• Foreign property reporting — Form T1135 is mandatory if foreign assets exceed CAD 100,000
• FATCA-like restrictions — some Indian fund houses restrict Canadian residents, similar to US NRIs
• Strong tax-advantaged accounts — RRSP, TFSA, RESP, and FHSA provide excellent tax shelter options

Getting started as a Canada NRI

1. Understand your tax position — Canada taxes worldwide income. See our Canada tax guide for DTAA relief details.
2. Set up Canadian tax-advantaged accounts — RRSP (employer match first), then TFSA (CAD 7,000/year tax-free).
3. Convert Indian accounts — resident savings must become NRO. Open NRE for repatriable funds. See our banking guide .
4. Check Form T1135 — if your Indian assets exceed CAD 100,000, this filing is mandatory.
5. Compare remittance rates — use our INR converter before transferring CAD to INR.

Key Canada NRI facts

• Tax year: Calendar year (January to December)
• Filing deadline: April 30 (June 15 for self-employed, but payment still due April 30)
• RRSP limit: 18% of previous year’s earned income, up to ~CAD 31,560 (2025)
• TFSA limit: CAD 7,000/year (2025)
• T1135 threshold: CAD 100,000 in total cost of foreign assets
• DTAA: India-Canada treaty active — claim foreign tax credit via Form T2209
• PPF/NPS: Not recognised as registered plans in Canada — growth may be taxable annually
• Indian mutual funds: Check FATCA restrictions before investing from Canada