Looking to purchases stocks on Toronto Venture Exchange as a US resident.
2007-01-24 01:49:23 · 3 answers · asked by Wondering 1 in Business & Finance ➔ Taxes ➔ Canada
Your best bet would be to open an account with a Canadian broker and have them hold the stock for you. If the stock pays dividends, be prepared to have non-residents tax withholdings deducted (it's not refundable). I have done something like this in New Zealand. Research the companies carefully, because the regulations in Canada are different than the US as far as public disclosures. Many protections afforded by the US Securities and Exchange Commission don't apply. Also be aware that you incur exchange rate risk because you are doing all your business in Cdn$ so a nice Cdn$ gain could be wiped out when you attempt to convert your money back to US$ if the rate has swung against you in the interim. The Cdn$ was trading at 0.75 US a few years ago, now it's around 0.90. If you'd invested already and were showing a gain of Cdn $1000 now, that would be worth US$900. If you left your money invested and the rate dropped back to 0.75, the same gain would only be worth US$750.
2007-01-25 09:36:31 · answer #1 · answered by n2js 2 · 0⤊ 0⤋
Of course you can. Just like we can buy your stock. Most of the on-line brokerages have this capacity.
Do you need any tips? Heh heh.
As mentioned, most of the big blue chips in Canada trade in the US as well.
2007-01-24 02:18:14 · answer #2 · answered by Mick 3 · 0⤊ 0⤋
Yes - you can buy it directly from Canadian Exchanges or market makers or you can buy the "American equivalent" - an that trades on NASDAQ, typically on the Bulletin Board. There are also some Canadians that are also listed on American Exchanges
2007-01-24 01:58:00 · answer #3 · answered by dashel_gabelli 3 · 0⤊ 1⤋