Korean Job Discussion Forums

[4 months left]

Has anyone bought Canadian stocks thru a Korean Securities Co.? I know Leading Korea does not offer it.

Thanks in advance.

[SeoulnPepe]

Why would you want to do that? The tax issues are a nightmare. You would have to pay two governments because both of them would know about your investments.

Yes, you can reclaim whatever Capital Gains Tax Korea slaps you with, but it will be a long time before you see that money. That's assuming your Canadian accountant knows how to reclaim that money.

The best thing is to start a non-registered account back in Canada, and invest your money through there. You won't be able to use an RRSP account, because of residency regulations, so you'll have to find an account that does the same (ie. one that doesn't charge you an arm and a leg for you to invest your money).

There used to be discount brokers in the US that catered to Canadian customers, but the Canadian government changed regulations so that US brokerage firms could no longer have Canadian clients. They were, and still are, much cheaper than Canadian brokerage firms--you also have to be careful, because you can only open up an account in your home province (again, due to government regulations). This can be a pain, because some provinces have laxer rules than others.

I've heard that TD PriceWaterhouseCoopers (I think they changed their name) is probably the best of the firms. They charge an annual $100.00 fee for your account--period--no other fees. Other firms will charge you a % on the interest you make, on management fees, and a bunch of other little fees that can eat up your profits.

The other way to invest is to find DRIPs from companies with a future. I won't go into them, because you can look them up on the Net. If you meet all of the requirements, you could open up an off-shore account, which would shelter your money to some extent. For that you'll need a very good accountant who knows the loopholes so you don't have to pay the Canadian government too much.

Happy investing.

[4 months left]

It's for a Korean friend not me.

If you open an account in Canada you have to pay Canadian taxes on your Korean salary, so that's not a good idea. I do it thru a family member's account.

I don't think it would be a problem about the taxes if I bought a Canadian stock thru a Korean broker, would just have to pay the withholding tax.