Investing CAD funds

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Investing CAD funds

Post by iammadhu » Fri Sep 18, 2020 11:16 am

Canadian Citizen moved to USA and got green card. However, i have 100K CAD sitting in a bank in canada.

I don't want to convert it to USD and move funds. Is there an option to buy canadian stocks? my canadian bank said i can't buy mutual funds in canada

- Can i move the CAD to US brokerage firm and keep it in CAD and trade on TSX? if my plan is to buy and hold stocks are there tax concerns?

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Re: Investing CAD funds

Post by nelsona » Fri Sep 18, 2020 1:28 pm

Since you live in US, you cannot have a Cdn brokerage account, nor can you buy Cdn mutuals outside of your RRSP.

If you are concerned that the Cdn dollar will rise (otherwise you would want to change it), you could convert into US and then invest through US brokerage in predominantly Cdn firms that trade in US through a US broker.
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

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