In order to be eligible to open a Wealthsimple account, you must meet the following eligibility criteria:
- Reside in Canada and either be a Canadian citizen or have a valid Canadian Visa
- Meet your province or territory’s minimum age requirement to open an investment account
- Have a valid Social Insurance Number
- Satisfy identity verification requirements for non-registered accounts
Reside in Canada and either be a Canadian citizen or have a valid Canadian Visa
To open a Wealthsimple account, you must be a resident of Canada. Wealthsimple is not licensed to hold accounts for individuals residing outside of Canada, including Canadian citizens living abroad.
Meet your province or territory's minimum age requirement to open an investment account
Each Canadian province and territory has a minimum age requirement for individuals to open an investment account. Wealthsimple is not licensed to hold accounts for individuals who do not meet the age requirements below —
|Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, Saskatchewan||18|
|British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Yukon||19|
Have a valid Social Insurance Number
We require a Social Insurance Number in order to provide appropriate tax reporting information to the CRA.
Satisfy identity verification requirements for non-registered accounts
A non-registered account is an account that is not registered with the Canadian government. We ask you to verify your identity to help secure your account and comply with anti-money laundering rules.
Usually, we automatically verify the information you enter during sign up with a credit reporting agency. If your details match, then you’re all set. If there are any discrepancies, our team will reach out to:
- Double-check the information to make sure it wasn’t entered incorrectly. If that’s not the case;
- We’ll ask you to provide extra documentation (e.g. a utility bill, T4, or Notice of Assessment).
For more details on this identity verification process, check out this article by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).
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