Lesson Corporate accounts

Corporate accounts

Learn how to open a corporate account and their benefits.

If you’re a business owner who wishes to make the most out of your excess cash on hand, or you’re looking to set up an investment club, then you may be interested in having a corporate trading account. This type of account allows you to keep your money in the business while giving you the option to invest in a wide variety of investment products. But that’s not all, by having this type of account you may also be able to reduce your income tax rate. Keep reading to learn more.

Investing:

As mentioned in the introduction, if your business has excess cash on hand, you can keep it in the business while investing with a corporate account. But more than just growing your portfolio and combating inflation, corporate accounts could help business owners reduce their personal income tax rate.

Lowering your taxes:

Here is how it works: many businesses are prone to good and bad years. If you withdraw funds from the business during your good earning years, your tax bracket will be higher, and you’ll pay more income tax. Conversely, if you withdraw funds during lower-earning years, your tax bracket will be lower, and you’ll pay less income tax. We give you the option to withdraw money when you need it and let the rest of your money keep working for you.

You can build a diversified portfolio by investing in a wide variety of investment products such as:

  • Stocks
  • Exchange-traded funds (ETFs)
  • Options
  • Mutual funds
  • Bonds
  • Gold and silver bars
  • GICs
  • Cash
  • And more

Please note: The information shown in this article may vary slightly from your experience as we work to improve the overall account opening process.

To get started with a corporate account, you will need to submit your application online:

  • Log in to your Questrade account
  • Click Open an account and choose Corporate account
  • Fill out the required account opening information online
  • Download generated account documents
  • Fill out the application where necessary and hand sign
  • Upload or mail your documents in

The following role(s) are standard for Corporation margin accounts. To add a role, click the plus button. Depending on the corporation, one or more individuals can act as all of the roles listed below:

Role Description
Authorized trader

 An individual who has written permission to make trades on the primary person’s or company’s behalf.
Spouse

 A person married to or in a common-law relationship with another account participant.
Guarantor

 A person married to or in a common-law relationship with another account participant.
Officer

 An executive of the corporation
Director

 A member of a company’s board of directors
Beneficial owner

 A person who enjoys the benefits of ownership even though the assets are in another’s name.

Important to know:

  • Application documents have to be signed by hand and uploaded to your account. (With an exception for residents of Alberta).
  • The Articles of Incorporation are also required for the application process.
  • The personal information of all roles must match across all sources and documents.

Interested to learn more or need guidance opening an account? Well, that’s what we’re here for. Feel free to reach out to our customer support by phone, chat or email.

Note: The information in this blog is for information purposes only and should not be used or construed as financial, investment, or tax advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied is made by Questrade, Inc., its affiliates or any other person to its accuracy.

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