Financial troubles don’t end at borders—or even oceans. If you’re a Canadian citizen no longer living in the country, and you still have debts in Canada that you are unable to pay, you may be wondering whether or not you can file for bankruptcy. The answer is that it depends, but the rules are actually pretty straightforward.
The simplest way to file for bankruptcy is to re-establish your residency in Canada (move back to the country) in order to do so. Once you’ve filed your bankruptcy papers, you’re free to leave again, but you must keep your trustee informed about where you will be living. If you prefer to remain outside the country, you may file for bankruptcy if:
Even if you’re living in another country when you file for Canadian bankruptcy, you will still be subject to all the rules and regulations under the Canadian Bankruptcy and Insolvency Act. Specifically, you must:
For more information about how Canadian bankruptcy laws may affect you if you’re no longer living in the country, We are available to assist you and answer your questions over email ,text or Skype.