I'm looking for a Canadian brokerage that will allow a US tax resident to open a non-registered, self-directed brokerage account.
My situation is unique, so please assume that I've considered all the reasons why I might want to open a Canadian brokerage account. I know about the tax implications, ramifications of holding PFICs, etc.
So far, my understanding is:
- There is no legal precedent to disallow non-residents from opening an account in Canada
- Any brokerage doing so would need to be licensed in the US (and likely, my state) as well as Canada
- The paperwork involved in the licensing and reporting mean most brokerages just don't support it
- The big 5 banks and Questrade are a hard no.
Anyone set one up recently?
Submitted August 26, 2021 at 12:24PM by ikeepeatingandeating https://ift.tt/3gyrVVK
