I am moving to Vancouver from India and joining Amazon Vancouver. I am wondering if i can buy stocks of companies like MS, Netflix, Adobe? I am from Indian nationality. Has anybody from india moved to Vancouver or Seattle and is investing in tech stocks? Can you tell me how you do it and how the tax process happens ?
Yes you can. But first things first and get an idea how much you need to make to afford living in Vancouver or Seattle.
How much? Can you give me an idea?
Obvious answer is depends on what kind of lifestyle you choose. I'm quite frugal and live quite far from downtown. I can limit my monthly cost to $1200 with rent and everything. Live a few months while keeping track of spendings to find out.
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Yes, you can open a brokerage account and buy stocks. Taxes are usually applicable only when you sell stocks. If you acquired and sold them while living in the same country, then it's income sourced in that country (even if the stock is traded on a foreign exchange). Then depending on your tax residency status income in one country may or may not be taxable in other countries. If you emigrate from Canada, you are deemed to have sold all stocks at the time of departure and have to pay taxes on the gains. Consequently, you can generally update the cost basis for the stocks for tax purposes (depends on the tax treaty though).
Can I keep the brokerage account and continue trading after leaving Canada?