When asking this question to one of our clients (a new resident to Canada from China) they stated the following:
- 1. In mainland China you cannot own a home, it can only be leased for 70 years.
- 2. There are no “safe” retirement programs such as RRSPs or 401k’s.
- 3. They didn’t feel comfortable leaving investments in a communist country.
Angela Calla, AMP
Host of “The Mortgage Show” on CKNW AM980 Saturdays at 7pm