When you enter Canada, you could receive a visitor visa that is valid for six months from the day you enter. If you’d like to stay longer, you can fill out some paperwork to obtain permission to extend your stay. As a tourist, you can purchase a vacation home and set up a bank account in Canada. “I’ve done this myself and never had any problems at the bank or at the border,” says Cori Carl, author of “Moving to Canada.”
This might be a viable option for those planning to split their retirement between two or more locations. If you spend six months of the year in the warmer locales of the Southern U.S., you could live in Canada for the remaining time. You’ll be considered a U.S. citizen and will need to pay U.S. taxes with this setup. You won’t have access to Canadian health care coverage and won’t be subject to Canadian taxes.