WHAT HAPPENS TO YOUR INVESTMENTS IF YOU LEAVE CANADA?
Can You Keep Your Canadian Investment Accounts After Becoming a Non-Resident?
If you move outside Canada and become a non-resident for tax purposes, you can often keep your Canadian investment accounts, but the rules surrounding them may change. Many Canadian financial institutions allow non-residents to maintain existing non-registered investment accounts, although some may restrict certain services depending on the country where you reside. It’s important to notify your financial institution when your residency status changes.
While you may be able to keep your investments invested in Canada, you may not be able to make additional contributions or purchases in certain accounts, depending on the type of account, your residency status, your financial institution’s policies, and Canadian regulations. Investment income and withdrawals may also be subject to Canadian withholding tax, and your new country of residence may tax your investment income based on its own tax laws and any applicable tax treaty with Canada.
Whether you’re retiring abroad, becoming a snowbird, or permanently relocating, understanding how your investment accounts fit into your overall financial and tax plan is an important part of the transition.
If you’ve been researching what happens to your investments when you leave Canada, Canadian investment accounts for non-residents, moving abroad from Canada, cross-border investing, or international retirement planning, SOL Properties can help connect you with trusted professionals who can assist with international real estate, relocation, and cross-border financial planning, with both English and Spanish-speaking support.
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