Typically, if an Offshore IBC loans you money that creates a personal reporting requirement to check the box on T1 page 2. However,
if a licensed bank makes you a commercial loan at market rates, according to s.80.4(3) there is no taxable benefit.
So if you could find a flexible banker, willing to continously loan you money, (like our Government borrows), fully secured by foreign capital, and
self-paying,
you can repatriate any amount of Offshore IBC capital on hand - as tax-free loans, forever. Why would anyone use a
ATM cash card, and live in fear as a tax fugitive, when money can be repatriated in compliance? The answer is he can live with 3-5% fees,
but not 35-45% tax. We can remove that risk using a bona-fide loan program.
Tax Free Offshore Loans