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How the Saint Lucia Citizenship By Investment Program Can Benefit Crypto Investors Seeking a Tax Haven

  Photo by yousef alfuhigi on Unsplash Cryptocurrency investors are always on the lookout for tax-efficient solutions to minimize their tax liabilities. One option that is gaining popularity among investors is the Saint Lucia Citizenship By Investment Program. In this article, we'll explore how this program can benefit cryptocurrency investors looking for a tax haven country. Saint Lucia is a sovereign island country located in the Caribbean Sea. Its Citizenship By Investment Program (CIP) was established in 2015, allowing investors to obtain a second passport by making a qualifying investment in the country. Saint Lucia's CIP has become a popular choice for high-net-worth individuals and entrepreneurs seeking a safe haven to protect their assets and minimize their tax liabilities. Saint Lucia's second passport permits travel to 145+ global countries visa-free, including the United Kingdom, Singapore, Hong Kong, as well as the European Union countries. The Saint Lucia pass
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Passive Income From Your TFSA ( Tax Free Savings Account )


Three different types of TFSAs are available: deposits, annuity contracts, and trust arrangements. TFSAs may be issued by banks, insurance companies, credit unions, and trust firms. Anyone living in Canada who is 18 years of age or older, has a valid SIN and is a resident is qualified to open a TFSA. At any given moment, you may have more than one TFSA, but the total of your contributions to all of your TFSAs cannot exceed your allowed TFSA contribution capacity for the given year. The most you can put into your TFSA is known as your TFSA contribution room.

For 2023, the new TFSA (Tax-Free Savings Account) ceiling is $6,500. To generate tax-free income or increase retirement savings, TFSA participants may store income-producing assets in the registered account. Only if you make excessive contributions, engage in substantial trading, or operate a business out of the account will the Canada Revenue Agency (CRA) step in or impose penalty taxes. The majority of TFSA users prefer to invest for the long term because all returns are tax-free. Reinvesting dividends is a common practice because it allows you to take advantage of the power of compounding by using the money you would have spent on additional shares rather than claiming the dividends.

The authorized investments in a TFSA are often the same as those allowed in a registered retirement savings plan (RRSP). Cash, mutual funds, securities registered on a specific stock exchange, guaranteed investment certificates, bonds, and specific shares of small business enterprises are some examples of these.
We will discuss securities that use dividends in this article.

Canadian Apartments REIT $CAR.UN
One of the biggest residential real estate trusts in the nation is Canadian Apartments REIT. The trust, one of the most well-liked REITs in Canada, has a pronounced presence in the industry. The company's main activities include buying and renting out residential properties in Canada. The majority of the company's revenue comes from the Greater Toronto and Toronto areas, and its portfolio includes both mid-tier and premium properties. www.caprent.com

BCE Inc. $BCE
In fact, if you had reinvested the income from a $10,000 investment made in the company in the middle of the 1990s, it would now be worth nearly $462,000! It is the largest telecommunications company in the nation and offers services through its media, wireline, and wireless businesses to more than 9.6 million consumers across Canada. Additionally, it serves as the ILEC (incumbent local exchange carrier, or the "legacy telephone service") in the majority of Canada's eastern provinces, including the two most populous ones, Ontario and Quebec. BCE also has a media section with assets for radio, television, and online media. HBO, Showtime, and Starz are just a few of the movie channels whose Canadian rights are licensed by BCE. www.bce.ca

Real Estate Investment Trust for SmartCentres $SRU.UN
A fully integrated Canadian commercial and residential REIT, SmartCentres Real Estate Investment Trust has over 174 carefully chosen properties spread out across the nation. On its current retail assets, the company is creating fully integrated, mixed-use communities under the wholly-owned residential sub-brand SmartLiving. www.smartcentres.com

Purpose Bitcoin Yield ETF $BTCY
The fund aims to give unitholders (a) regular payments and (b) long-term capital growth. The fund will primarily achieve its investing goals by getting exposure to Bitcoin and by employing a derivatives-based strategy with regard to the securities in its portfolio. The fund aims to accomplish its investment goals by purchasing units of the Purpose Bitcoin ETF and using an options writing method to invest indirectly in long-term holdings of Bitcoin. The fund might also put money into other mutual funds that offer exposure to bitcoin. www.purposeinvest.com

Real Estate Split Corp. Class A shares $RS
A mutual fund business is run by Real Estate Split Corp, formerly Real Estate & E-Commerce Split Corp. The company makes investments in a diversified, actively managed portfolio of dividend-paying securities issued by companies engaged in the real estate industry or industries closely related to it, including real estate investment trusts. www.middlefield.com

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Location: Toronto, ON, Canada