Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
How to buy Stripe stock in Canada when it goes public
Here's everything we know so far about the Stripe IPO.
Stripe has entered into a partnership with Salesforce (CRM), fueling rumors that the company is planning an IPO soon. The company also recently raised $600 million in revenue and hired a new CFO, Dhivya Suryadevara.
But this isn't the first time speculation has swirled that the company might be planning to go public. And as recently as August, a company spokesperson insisted that an IPO was not in the works.
We'll update this page as new information becomes available. But in the meantime, here's what Canadian investors need to know about investing in Stripe from Canada.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
What we know about the Stripe IPO
There's speculation that Stripe is planning an IPO. We're unable to confirm that news, and Stripe has not yet filed a viewable Form S-1 with the US Securities and Exchange Commission. We'll update this page with information as it becomes available.
There's no news yet about how much the stock will cost when it goes public. No date has been set for when the stock will be publicly available. The shares will be available on the not yet known.
Will I be able to buy Stripe stocks from Canada?
You won't be able to buy Stripe stocks on a Canadian stock exchange like the TSX or CSE. Instead, you'll need a Canadian broker that provides access to stocks sold on international exchanges. However, some Canadian brokerages don't offer access to international investments at all or only provide access to a limited range of investment opportunities.
You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Questrade, Wealthsimple, Scotia iTRADE and Interactive Brokers. Interactive Brokers also provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).
The process of buying stocks listed on international exchanges is basically 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 international stocks.
How to buy shares in Stripe when it goes public
Once Stripe 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.
- Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
- Search for Stripe. Find the stock by name or ticker symbol. Research its history to confirm it's a solid investment against your financial goals.
- Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Stripe reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of Stripe, depending on your broker.
- Check in on your investment. Congratulations, you own a part of Stripe. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
Tax implications of buying US stocks in Canada
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.
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 online stock trading platforms
Note: The dollar amounts in the table below are in Canadian dollars.
More on investing
Companies are going public via direct listings and IPOs. Which should you invest in?Read more…
Biden’s plan to replace the federal fleet with American-made electric vehicles gives another boost to a red-hot sector led by Tesla.Read more…
Cruise ship stocks are sailing through murky waters, but can they rise?Read more…
More guides on Finder
How to buy Sanofi stock in Canada | $45.8
Steps to owning and managing SNY, with 24-hour and historical pricing before you buy.
How to buy NorthWestern Corporation stock in Canada
Steps to owning and managing NorthWestern Corporation stocks, with 24-hour and historical pricing before you buy.
How to buy Noble Corporation stock in Canada
Steps to owning and managing Noble Corporation stocks, with 24-hour and historical pricing before you buy.
How to buy NMI stock in Canada
Steps to owning and managing NMI stocks, with 24-hour and historical pricing before you buy.
How to buy nLIGHT stock in Canada
Steps to owning and managing nLIGHT stocks, with 24-hour and historical pricing before you buy.
How to buy NIO stock in Canada | $46.81
Steps to owning and managing NIO stocks, with 24-hour and historical pricing before you buy.
How to buy Nielsen stock in Canada
Steps to owning and managing Nielsen stocks, with 24-hour and historical pricing before you buy.
How to buy Newtek Business Services stock in Canada
Steps to owning and managing Newtek Business Services stocks, with 24-hour and historical pricing before you buy.
How to buy New Fortress Energy stock in Canada
Steps to owning and managing New Fortress Energy stocks, with 24-hour and historical pricing before you buy.
How to buy NeoGenomics stock in Canada
Steps to owning and managing NeoGenomics stocks, with 24-hour and historical pricing before you buy.
Ask an Expert
You must be logged in to post a comment.