Investing Canadian money while being an American Resident
Moderator: Mark T Serbinski CA CPA
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Investing Canadian money while being an American Resident
Hi, I have some money in a Canadian account that I would like to invest in Canada however I am an American resident. I would like to invest the money and pay no taxes while I'm in the US since I don't intend on selling it. This would require a fund that doesn't produce dividends. Is it possible to do this? If not, can I just put the money in an ETF in Canada, and pay whatever captain tax I would get in the US?
Re: Investing Canadian money while being an American Resident
US residents (even Cdn citizens) are not allowed to have investment accounts in canada, other than retirement accounts.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
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Re: Investing Canadian money while being an American Resident
nelsona wrote:
> US residents (even Cdn citizens) are not allowed to have investment
> accounts in canada, other than retirement accounts.
Well that simplifies my options lol Thanks.
> US residents (even Cdn citizens) are not allowed to have investment
> accounts in canada, other than retirement accounts.
Well that simplifies my options lol Thanks.
Re: Investing Canadian money while being an American Resident
As I know, it is impossible since you are not a resident of Canada. You might address your questions to a financial adviser. I sold a house in another country with the help of https://mcdanielcorp.com/. The procedure is not at all easy. There are a lot of legislations and rules. For those who have little knowledge of the financial market, it's better to consult a firm specialized in these services. This domain is highly developed and requires deep understanding and good strategy. I use financial advisers to control my savings account, real estate properties, and tax deductions during Covid.
Re: Investing Canadian money while being an American Resident
Sorry, but you can't do this as long as you're not a Canadian citizen.
Re: Investing Canadian money while being an American Resident
It is clear that you are not an investor who takes the risk, so am I. I better invest for 30 years in the same ETF, and I know for sure that I will not be short of money in my old age and I will have a quiet life with my wife.
Re: Investing Canadian money while being an American Resident
You can invest your money in real estate in Canada; it would still be a wise decision. But it is better to consult humaninvesting.com. When I became more and more interested in investing, I asked what assets were worth investing in; I turned to them to avoid wasting a lot of time and energy.
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Re: Investing Canadian money while being an American Resident
You can invest in any corner of the world in any ETF you want, even in Europe, Canada or America. As long as you know how to do it and trust that those ETFs will bring you good dividends, go for it. As a citizen of America, I also invest in ETFs in Europe, which will give me a good return. I want to make a few million at the age of 50, I'm not sure I'll have the same https://radicalfire.com/grant-cardone-net-worth/ grant cardone net worth, but I'll have a quiet and beautiful life drinking a cocktail on a beach.
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Re: Investing Canadian money while being an American Resident
What are investment options available to American immigrants? Before I start, I should mention that I am not a tax advisor but just familiar with tax-efficient investment vehicles. I found several options at https://investorjunkie.com/. There's a lot of useful information there on investment issues. Option 1: A local solution in your country of residence. Option 2: A Canadian solution - Canadian Brokers and Real Estate. Option 3: A solution in a third country. It is often profitable to invest offshore as an ex-patriot.
Re: Investing Canadian money while being an American Resident
www.brassenterprises.com has structured K-1 real estate investments in US LPs that would especially suit you as an American tax resident (no extra filing burden with IRS) owning Canadian funds (it's a Canadian investment with mostly Canadian investors).
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Re: Investing Canadian money while being an American Resident
You need to contact financial specialists about this issue.
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Re: Investing Canadian money while being an American Resident
As far as I know, it is impossible to do this
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Re: Investing Canadian money while being an American Resident
MentonDaniel wrote:
> As far as I know, it is impossible to do this
You need to transfer money from your Canadian account to your American account in some way, only you will have to pay a huge percentage for this, but you have no other options. I would advise you to contact specialists who will give you important tips on transferring money from another account to yours with a minimum commission, etc. You can read on this site https://wealthpursuits.com/ about bills and money. Maybe you will find out what can help you in this situation. But usually learn a lot about investments and money management on this site.
> As far as I know, it is impossible to do this
You need to transfer money from your Canadian account to your American account in some way, only you will have to pay a huge percentage for this, but you have no other options. I would advise you to contact specialists who will give you important tips on transferring money from another account to yours with a minimum commission, etc. You can read on this site https://wealthpursuits.com/ about bills and money. Maybe you will find out what can help you in this situation. But usually learn a lot about investments and money management on this site.
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