# On-line trading from outside Canada?



## 411guy (Jul 27, 2009)

I hope I can get feedback here. I will soon retire to warmer climes, initially as a snowbird, and ultimately as a non-resident of Canada.

I have a Canadian discount brokerage account where I do my "fun' trades. I intend to be a DIY investor upon retirement and transfer my RRSP accounts there.

As a snowbird, ~6 months away from Canada, can I continue to trade online on my Canadian discount broker? When I become a non-resident of Canada, can I continue to buy and sell via my Canadian discount brokerage?

Any feedback will be welcome. Thanks.


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## kcowan (Jul 1, 2010)

411guy said:


> I hope I can get feedback here. I will soon retire to warmer climes, initially as a snowbird, and ultimately as a non-resident of Canada.
> 
> I have a Canadian discount brokerage account where I do my "fun' trades. I intend to be a DIY investor upon retirement and transfer my RRSP accounts there.
> 
> As a snowbird, ~6 months away from Canada, can I continue to trade online on my Canadian discount broker?.


Yes, even over 6 months. As long as you are a Cdn Resident.


> When I become a non-resident of Canada, can I continue to buy and sell via my Canadian discount brokerage?
> 
> Any feedback will be welcome. Thanks.


No, once you become a non-resident, you must do your trading in the country where you retired. You could leave your RRSPs and TFSAs in Canada but no longer make any trades.


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## hboy43 (May 10, 2009)

kcowan said:


> Yes, even over 6 months. As long as you are a Cdn Resident.
> No, once you become a non-resident, you must do your trading in the country where you retired. You could leave your RRSPs and TFSAs in Canada but no longer make any trades.


One has to work pretty hard to be a non resident don't they? I am still floating the idea of floating around the planet for a few years on a boat. I wouldn't see myself physically a resident particularly anywhere, but presumably Canada would be quite happy to keep me on the tax role.

hboy43


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## kcowan (Jul 1, 2010)

hboy43 said:


> I wouldn't see myself physically a resident particularly anywhere, but presumably Canada would be quite happy to keep me on the tax role.
> 
> hboy43


What kind of passport would you carry?


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## OhGreatGuru (May 24, 2009)

Passport has nothing to do with residency for income tax purposes.

Rules for "residential ties" are subjective. But you are right, if you wanted to voluntarily declare yourself as resident for tax purposes, and keep filing tax returns, CRA probably wouldn't object. Whether or not it would be to your financial advantage to do so is another question.

PS. Your eligiblity for provincial medicare will end, regardless of your tax status. Usually after about 6 mos. Though on another thread I read that some provinces may grant extensions to this.


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## kcowan (Jul 1, 2010)

Ontario days absent is 212 so a little more than 183 for medicare.

There are a number of tests that CRA applies. Banking relationship is one. Credit cards are another. Also the nature of the tax treaty between Canada and the country you choose. 

We have a friend here who chose Malta. But he continues to manage businesses in Canada and the US remotely. He has a rental apartment in Malta even though he never goes there. It has to remain empty of paying tenants, although he has told us we are welcome to use it anytime.


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## hboy43 (May 10, 2009)

kcowan said:


> What kind of passport would you carry?


Canadian.

Many people circumnavigate over a 2 or 3 year period, so I could conceivably not set foot in Canada for years, but not really be a resident anywhere else either.

Nice how the provinces screw us on health care just because they can. They are perfectly happy to collect all our taxes when we are away 6 plus months of the year.

This is all academic at this point, it could well be that my health will never come back sufficiently to attempt long term cruising. Might just find myself sailing down to the Carribbean every winter for say 5 months and 30 days.

hboy43


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