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stock trading with employer specific work permit

amex

Star Member
Mar 17, 2018
59
38
I am in Canada with employer specific work permit, I have a temporary SIN number and I opened a direct investing and TFSA account from a bank. I did some long term and short term investing and gain some profit out of it. I just want to make sure that this won't hurt my work permit conditions since it is specific to an employer with a specific occupation. of course I am doing this with my own personal savings which is something around 50,000.
 

zardoz

VIP Member
Feb 2, 2013
13,304
2,166
Canada
Category........
FAM
Visa Office......
London
App. Filed.......
16-02-2013
VISA ISSUED...
31-07-2013
LANDED..........
09-11-2013
I am in Canada with employer specific work permit, I have a temporary SIN number and I opened a direct investing and TFSA account from a bank. I did some long term and short term investing and gain some profit out of it. I just want to make sure that this won't hurt my work permit conditions since it is specific to an employer with a specific occupation. of course I am doing this with my own personal savings which is something around 50,000.
As long as you are only stock trading for yourself you have nothing to worry about.
 
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shakir ahmed

Full Member
Aug 21, 2017
25
21
I am in Canada with employer specific work permit, I have a temporary SIN number and I opened a direct investing and TFSA account from a bank. I did some long term and short term investing and gain some profit out of it. I just want to make sure that this won't hurt my work permit conditions since it is specific to an employer with a specific occupation. of course I am doing this with my own personal savings which is something around 50,000.
Did you have any problem trading with closed work permit? I am in the same situation now. Wondering you could help.
 
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deep Singh 11

Newbie
Mar 2, 2023
2
0
Please reply I want to know about that is this possible I can do day trading in Canada on specific work permit and there is any limit
 

Minhas15

Member
Dec 9, 2018
10
0
Hi did you guys find out anything about this topic I am in same situation looking please let me that would be great
 

moscatojuices

Champion Member
Feb 21, 2022
1,562
775
TFSAs are designed to be a long-term investing structure. If you day trade in your TFSA then the CRA may interpret this as operating a business and tax you on your capital gains - https://www.thestar.com/business/2023/04/12/business-or-tax-free-savings-account-day-trader-who-ran-up-15k-to-617k-in-his-tfsa-ordered-to-pay-taxes.html

By virtue of operating a business, you may enter unchartered waters and be deemed to have breached your visa conditions if those conditions strictly entitled you to work which is what a closed-work permit entails.

If you're wanting to do day trading then stick to an unregistered account.

You're welcome to message me and donate a coffee to me because not even an investment adviser or immigration lawyer would know any of the above.
 

Minhas15

Member
Dec 9, 2018
10
0
Thanks for the reply I am not doing day trade from tfsa or RRSP I am doing trade from non-registered account in US Markert still fear that will make trouble with my work permit
 

moscatojuices

Champion Member
Feb 21, 2022
1,562
775
Thanks for the reply I am not doing day trade from tfsa or RRSP I am doing trade from non-registered account in US Markert still fear that will make trouble with my work permit
Not sure why - you're creating your fear in your head. You're a tax resident of Canada and are entitled to trade stocks in an unregistered account, earn interest, buy certain types of housing etc.
 

Jay150102

Newbie
Dec 27, 2023
1
0
Hello I just completed my studies in canada and now I am on my work permit . Can anyone please tell me that can I do stock trading on work permit ??