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Old 18.12.2015, 13:52
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Online securities broker: L permit and Canadian stocks

Hi all,

I've searched the forum but couldn't find a specific response. My apologies if this has been discussed before.

I'm in Switzerland on an L permit and intend to stay. I have a certain number of stocks traded on the Toronto stock exchange and would like them to be available for sale.

Meanwhile I attempted to open an e-Trading account at PostFinance. Unfortunately they will not open such an account with an L permit.

Does anyone know an online stock broker that will? This online broker must also be able to negotiate on the Toronto stock exchange.

Thanks!
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Old 18.12.2015, 14:33
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Re: Online securities broker: L permit and Canadian stocks

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Hi all,

I've searched the forum but couldn't find a specific response. My apologies if this has been discussed before.

I'm in Switzerland on an L permit and intend to stay. I have a certain number of stocks traded on the Toronto stock exchange and would like them to be available for sale.

Meanwhile I attempted to open an e-Trading account at PostFinance. Unfortunately they will not open such an account with an L permit.

Does anyone know an online stock broker that will? This online broker must also be able to negotiate on the Toronto stock exchange.

Thanks!
Charles Schwab, TD Ammeritrade both US brokers can do what you want, Perhaps an online Canadian broker would make sense, who bought the stocks for you in the first place?
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Old 18.12.2015, 14:35
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Re: Online securities broker: L permit and Canadian stocks

Not an option. Can't (and don't want to) open something in the US. In Canada one must be a fiscal resident in order to have a brokerage account.
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Old 18.12.2015, 21:05
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Re: Online securities broker: L permit and Canadian stocks

Also: unless I've misunderstood the tax code completely, Switzerland is an excellent place to sell securities that one has acquired before a move or for which one can not easily establish the mean aquisition price. There are no capital gains taxes here. It would be foolish to sell them in another country.
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Old 18.12.2015, 21:45
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Re: Online securities broker: L permit and Canadian stocks

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Also: unless I've misunderstood the tax code completely, Switzerland is an excellent place to sell securities that one has acquired before a move or for which one can not easily establish the mean aquisition price. There are no capital gains taxes here. It would be foolish to sell them in another country.
Very expensive to trade n CH, why don't you want a US Broker?

Why do you think your liable to US CGT, unless your a US person your not. Fill in a W8 form & get 15% withholding tax (30 % with a Swiss broker). I get the feeling something is wrong & your trying to evade Canadian CGT.
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Old 18.12.2015, 22:03
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Re: Online securities broker: L permit and Canadian stocks

1. I don't do business with US companies for reasons that are off topic. The prices of Swiss brokers are fine for the types of transactions that I plan to do

2. Please don't try to evaluate my sincerity, honesty, or fiscal situation with respect to the US or Canada. My question was straightforward and specified all necessary parameters and as far as I know, had not been posed before on this forum.

Sooooo... If there is someone with an L permit that also has a securities brokerage account in Switzerland, I'd love to know before I spend a lot more time researching this. :-)
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Old 18.12.2015, 23:29
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Re: Online securities broker: L permit and Canadian stocks

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1. I don't do business with US companies for reasons that are off topic. The prices of Swiss brokers are fine for the types of transactions that I plan to do

2. Please don't try to evaluate my sincerity, honesty, or fiscal situation with respect to the US or Canada. My question was straightforward and specified all necessary parameters and as far as I know, had not been posed before on this forum.

Sooooo... If there is someone with an L permit that also has a securities brokerage account in Switzerland, I'd love to know before I spend a lot more time researching this. :-)
UBS & Credit Suisse trade for non residents, so there is no requirement for a permit of any description, however don't expect cheap to come into the equation.
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