Working remotely outside of Canada full time - can it work?

Posted by ConsequenceFew6931@reddit | expats | View on Reddit | 6 comments

A very young person in the tech industry. Work full time remotely which started as a perk during Covid and became permanent due to performance and a deep friendship and relationship with upper management.

I feel like I don’t have a future in Canada. Mental health is somewhat declining. Company is considering letting me work out of the country permanently if they can figure out the tax/cpp/ei situation. I’ve heard good things about Panama from other expats online and I don’t have any real estate or dependents that would leave me a resident for tax purposes. I’m fairly confident I could obtain a non resident status for tax purposes, but I’ve heard they almost always get audited.

My thoughts are once I meet the CRA requirements as a non resident for tax purposes I could spend half the year in the country living with my parents and another in a country with a territorial tax system which doesn’t tax income derived from foreign sources, Spend the winters outside and come back for the summers, rinse and repeat. In practice I’m sure this is harder than it sounds.

I did look into the States since I have family there but with the whole political climate there I wasn’t there.

I’m sure I’d be able to save up for a house more and I would feel better mental health wise living somewhere where the weather is stable.

If I were to quit this job I highly doubt I would be able to work remotely again given the economy, it would be back to the office full time.

I know this must sound like a crazy idea. Has anyone else who works remote looked into an arrangement like this? Thoughts and comments from those educated on these matters are much appreciated 🙏