Why the Mass Exodus to the U.S.?

Have you noticed a lot of your neighbors packing up and heading to Florida lately - for more than a quick vacay? Does it seem like every time you turn around, another family is making the move south? This isn't just a coincidence; it's a significant shift driven by real frustrations and the search for a better life.

One of the primary reasons for this migration is the desire for a better economic future. High living costs in Canada, including housing prices and taxes, are significant concerns. For example, the average property price in most parts of Florida is significantly lower than in many Canadian cities, offering more affordable housing options. Additionally, NO STATE INCOME TAX in Florida and lower sales and related taxes (not to mention capital gains savings) make it financially appealing.

The COVID-19 pandemic played a role in this shift. Many Canadians became frustrated with the prolonged lockdowns and restrictions imposed by the Canadian government. The perceived better handling of the pandemic in states like Florida, which maintained fewer restrictions, has drawn many families southward.

Healthcare is another critical factor. While Canada is known for its universal healthcare system, the pandemic has highlighted its shortcomings, with long wait times and limited access to certain medical services. In contrast, the U.S. offers quicker access to medical care, even if it comes at a higher cost.

In recent years, many Canadians have expressed growing frustration over the expanding regulatory environment in the country. From stricter building codes and environmental regulations to more stringent tax laws and business compliance requirements, the layers of bureaucracy can feel overwhelming. For many, this has translated into a desire to seek out environments where they feel they have more autonomy and fewer government-imposed restrictions. Take, for instance, John and Emily, a couple running a successful small manufacturing business in Toronto for almost 2 decades. Over the past few years, they've found themselves increasingly burdened by new regulations. The introduction of new taxes has significantly increased their operating costs, making it more expensive to run their machinery and transport goods. Additionally, new labor laws have mandated higher minimum wages and more comprehensive employee benefits, further squeezing their profit margins. John and Emily also face rigorous compliance checks and paperwork. They spend countless hours and resources just to stay compliant with the ever-changing regulations, diverting their focus from growing their business. They love Canada but feel stifled by the constant government oversight and financial strain.

In contrast, John and Emily have heard about friends who have moved their businesses to the U.S. and are thriving. In states like Florida or Texas, and they similarly see opportunities to operate with fewer regulations and lower taxes. The absence of state income tax in Florida, for example, is incredibly appealing. They also appreciate the more business-friendly environment, where they can focus on innovation and expansion rather than constantly worrying about compliance.

Furthermore, the overall quality of life in many states is a significant draw. The warmer climate, outdoor lifestyle, and better economic opportunities make it an attractive option for families looking to improve their living conditions.

However, navigating the process of moving to the U.S., particularly in terms of securing visas and managing legal and financial requirements, can be challenging. The truth is that the process is neither simple nor painless at all - it’s complicated and complex. Additionally, without expert guidance, applicants may also overlook alternative visa options that might better suit their circumstances which we have seen happen all-too-often.

Of course, moving to the U.S. isn't as simple as booking a flight. There's a lot of paperwork, legal hoops, and financial planning involved. Far too many prospective investors and visa seekers attempt to handle the whole process on their own, and hit snags all-too-often in the process. That's where Investing Across Borders comes in. We specialize in helping families make a smooth transition to the U.S., offering expert guidance on investments, business opportunities, structure and setup and visa applications, ensuring that your move is as seamless and successful as possible. We will truly have your back every step of the way, applying our industry-leading, holistic approach, by way of personalized investment and visa strategies, we will navigate your journey to the U.S. and help ensure that it is both smooth and successful. 

Our proven track record and commitment to client success make us the ideal partner for anyone looking to turn their American Dream into reality. With Investing Across Borders, you gain trusted advisors who understand the complexities of cross-border investments and immigration, helping you avoid pitfalls so that you can achieve your goals with confidence.

This article is intended to be and is general in nature and is not to be relied upon as legal advice. If you are interested in learning more about your options, or wish to explore doing business in the U.S. and potentially paving a path to a U.S. visa, Investing Across Borders is here to help you on your journey. 

Please contact us at Hello@InvestingAcrossBorders.net or join an upcoming event by visiting InvestingAcrossBorders.net/event.