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Here’s what you need to know about investing in Rivian from Canada.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
Rivian is completing a funding round worth several billion dollars that could value it at around $25 billion.
So far, the company has not filed a Form S-1 with the US Securities and Exchange Commission, but we will update this page as new information is available.
You won’t be able to buy Rivian stocks on a Canadian stock exchange like the TSX or CSE, but you can from a Canadian-based brokerage that offers access to companies listed on US stock exchanges.
Some of the Canadian online trading platforms that provide access to US-listed stocks include Questrade, Wealthsimple, Interactive Brokers and Scotia iTRADE.
The process of buying stocks in a US company while living in Canada is the same as buying stocks in a Canadian company. You buy and sell using your online trading account or through an investment broker who handles US stocks.
How to invest in US stocks from Canada
Once Rivian goes public, you’ll need a brokerage account to invest. Consider opening a brokerage account today so you’re ready as soon as the stock hits the market.
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Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.
An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.
Investment accounts that do not qualify for this exemption include RESPs, TFSAs and RDSPs.
All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you’ll be double taxed on those earnings — first by the IRS, then by the CRA. However, the CRA may allow you to claim foreign tax credits for any taxes you’ve already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply to your circumstances.
Compare special offers, fees structures and a types of investments that are available with some of Canada’s top stock trading platforms.
Note: The dollar amounts in the table below are in Canadian dollars.
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