If you are the owner of a Canadian corporation, non-profit or any other business entity, you can open an Invest for Business account with Wealthsimple.
Invest for Business
An account managed by Wealthsimple for businesses. Managed investing accounts are a part of Wealthsimple's automated investing service. With an Invest for Business account, we will invest your funds on your behalf in a personalized portfolio of low-fee exchange-traded funds.
Invest for Business accounts can be held in any of the following portfolio types:
Save for Business
A savings account with a 3.5% interest rate. A Save for Business account is a good choice when you need to access your funds quickly.
Open a Business account
You can open a Business account with Wealthsimple on the Wealthsimple desktop website. To open a Business account —
- Log in to your Wealthsimple account.
- Under Accounts, scroll down and select + Add an account.
- Choose Corporate from the account options menu.
- Select Next.
- Follow the prompts on-screen to finish setting up your account.
- Be registered in Canada
- Have a 9-digit federal Business Number
Once you open the account, our team will review the information you provided. If everything is correct, we will send you two forms via DocuSign. Once you've signed these forms, your account will be ready to use.
If you are opening a multi-director or multi-owner Business account, we may need more information from you. In this case, our support team will reach out over email with the next steps.
Frequently asked questions
Can I open a Business account for self-directed investing?
No, Business accounts are not available on our self-directed investing platform.
How do I know who to list as a director and who to list as an owner for my business?
A director is a person on the board of directors whose responsibilities include monitoring the firm's activities and shaping the firm's strategy to protect shareholder interests. An owner is either an owner or a shareholder of the business that owns 10% or more.
I have a business in Quebec but I only have an NEQ (provincial number) and not an NE (federal number). Can I still open an account?
We need a federal Business Number to open a Business account. If you do not have a federal business number, we’re unable to open a Business account for you.
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