A new survey by BMO Harris Private Banking shows that nearly a third of Canada's high net worth individuals were actually born outside of Canada.

According to the online study, 30 per cent of Canada's affluent, or those with at least C$1 million (just over $1 million) in investable assets, were born elsewhere, although a good 96 per cent of the country's rich keep the bulk of their wealth inside its borders. Four in ten respondents, or 37 per cent, said they allocate a part of their wealth outside Canada, mostly in the US (69 per cent), Europe (35 per cent), and Asia (28 per cent). 

"These findings speak to the Canadian spirit of multiculturalism and how this country fosters an environment that helps individuals to succeed and thrive," said Andrew Auerbach, the head of BMO Harris Private Banking. 

The survey also found that the country's rich are getting smarter about where they put their money. The number investing into tax-efficient investments has gone up in the past years to 92 per cent, from 73 per cent in 2008 and 67 per cent in 2005. 

The online study was conducted by Harris Decima.