Investiments in Canada

[gschostack]

Hello guys,

I'm brazilian and I'm starting my process of immigration through EE - FSW. My question is regarding the taxation of US stock investments. As a PR, can I have an US bank account for stocks and ETFs ? The taxation would be to high ?
Is it worth it ?
Thanks so much

 

[scylla]

Hello guys,

I'm brazilian and I'm starting my process of immigration through EE - FSW. My question is regarding the taxation of US stock investments. As a PR, can I have an US bank account for stocks and ETFs ? The taxation would be to high ?
Is it worth it ?
Thanks so much

Do you mean a bank account that is in the US and stocks that are held in the US? If so, then no, that is not possible.

You can however have a bank account in Canada that holds US dollars and an investment account in Canada where you buy US stocks. The accounts themselves have to be in Canada. They cannot be in the US.

 

[canuck78]

Hello guys,

I'm brazilian and I'm starting my process of immigration through EE - FSW. My question is regarding the taxation of US stock investments. As a PR, can I have an US bank account for stocks and ETFs ? The taxation would be to high ?
Is it worth it ?
Thanks so much

Investments will be taxed much lower than income and pay the majority when you sell based on capital gains.

 

[williamburk]

Investments will be taxed much lower than income and pay the majority when you sell based on capital gains.

Thanks for the explanation. And is the tax for immigrants is the same as for locals, or it's different? I'm planning my move to Canada, and now I'm looking for some information about finances, taxes and so on. I have a bank account in my country, and now I'm thinking about what to do with money I have there. Of course, it's the option to open a new account there, but I'm also thinking about creating a digital wallet. I found this interesting article https://dashdevs.com/blog/how-to-create-a-digital-wallet/, which provided me with some more info about it, which digital wallets can be, and some info about their creation and development. I work in the financial sphere, so fintech is quite interesting to me, so after moving and settling, I'll think about changing my career a little.

 

[steaky]

Thanks for the explanation. And is the tax for immigrants is the same as for locals, or it's different?

With investment, one (immigrants and locals) can also capture capital loss to offset future capital gains.