Registered accounts like TFSAs, RRSPs, RESPs, and RRIFs offer specific benefits – including tax deferrals or grants – based on your needs, goals, contributions and personal circumstances. Registered accounts can be opened in Canadian and US Dollars to reduce currency conversion costs.
Each registered account can hold a variety of financial products, including investments and deposits.
Tax-Free Savings Account - TFSA
Maximize your earnings and pay no Canadian tax2 on the interest, investment income, and capital gains, subject to contribution limits.
- Withdraw money without penalties.
- Choose from several different investment options – including mutual funds, individual stocks, GICs and more.
- Unused TFSA contribution room can be carried forward indefinitely.
Retirement Savings Plan – RSP
Specifically designed to help you save for retirement.
- Tax benefits now and in the future
- Types available: Registered Retirement Savings Plan (RRSP), Spousal Retirement Savings Plan (SRSP), Locked-in Retirement Accounts & Locked-in Retirement Savings Plans (LIRAs/LRSPs)
Registered Education Savings Plan (RESP)
Designed to help you save for a child's post-secondary education.
- Contribute any amount, anytime, up to a lifetime contribution limit of $50,000 per RESP beneficiary
- Tax-deferred growth.
- Build your RESP faster with access to government grants.
- Benefits from compounding and dollar cost averaging.
Retirement Income Fund (RIF)
When it's time to use the money you've accumulated for your retirement, a Registered Retirement Income Fund (RRIF) can help provide you with a regular income stream, while continuing to defer income tax on your savings.
- Grow your investments in a tax sheltered plan.
- Flexibility for when you withdraw or transfer.
- Types available: Registered Retirement Income Fund (RRIF), Life Income Fund (LIF), Locked-in Retirement Fund
USD registered accounts
Now available – USD registered accounts! Buy/sell US stocks, make USD contributions, and settle in USD. Keep USD balances readily available, and transfer cash between the CAD and USD sides of your registered account online.
US dollar registered accounts will be available for the following: TFSA, RRSP, Spousal RRSP, RIF, LRSP and LIRA.
- Buy and sell US stocks in US dollars. No need to convert between CAD and USD.
- Keep track of your US stock performance in US dollars.
- Have the flexibility to contribute to your registered accounts in CAD or USD.
- Maintain US dollars in your registered accounts.
Non-registered investment accounts are taxable but are also a flexible way to invest in stocks, securities, options, mutual funds, ETFs, and more.
Access a wide range of investment products on North American and leading international markets.
- Choose from individual, joint, or in-trust accounts
- Settle your investment trades directly from your HSBC InvestDirect account
- Reduce foreign exchange and conversion costs when you trade and settle in the currency of the market
Lets you borrow funds based on the market value of your eligible securities
- Borrow funds against your investments
- Opportunity to grow your returns faster
- You must ensure sufficient margin levels are maintained
- The use of Margin is not for everyone, as it comes with an increased exposure and risk
Margin with options account
Expand your investment strategy with options trading.
- Access a variety of options strategies
- Hedge income opportunities using options
- As an HSBC client, you may be eligible to receive up to a 20% discount on telephone option rates.
- There is a higher degree of risk associated with option trading. Please read the applicable Risk Disclosure Statement in the Terms and Conditions
Margin with short selling account
More advanced investors can incorporate short-selling strategies for potential gains from falling share prices or bear markets
- Provides additional leverage opportunities
- Short selling can help you profit from a falling share price or a bear market.
- There is a higher degree of risk associated with Short Selling. Please read the applicable Risk Disclosure Statement in the Terms and Conditions
Use a non-personal account to invest for your business – put your funds to work by expanding your portfolio with corporate accounts. You could also open estate and trust accounts through HSBC InvestDirect.
If you're an entrepreneur or small business owner, put the income your business generates to work with an online investment account.
- Cash flow convenience – Transfer funds and settle trades directly from your corporate bank account and your HSBC InvestDirect account, and save on foreign currency exchanges with 10 different currencies
- Maintain your liquid assets – Add investment income to your bottom line
- Invest for the short- or long-term – Choose from many short- and long-term investment options, including Money Market instruments, stocks, bonds, ETFs, securities of major international markets, as well as proprietary and third-party mutual funds and GICs
Estate & trust accounts
Protect your wealth and build an investment for your family’s future.
- Financial security – Set up a trust to build wealth for your beneficiaries
- Wealth distribution – Use Estate and Trust accounts to distribute wealth to your heirs over time
- Reduce income taxes – You may be able to reduce income tax payments when assets are transferred, through a trust account you establish now, or as specified in your Will
- Easier transfers – Facilitate the sale or transfer of a family business, and provide the opportunity for potential tax benefits
Tools & resources
Investment products do not guarantee profits and contain varying levels of risk and complexity. Investors should understand the nature and risks of each product and carefully consider each investment in the context of their individual risk tolerance and return objectives before investing.
1 HSBC InvestDirect is a division of HSBC Securities (Canada) Inc., a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. HSBC Securities (Canada) Inc. is a member of the Canadian Investor Protection Fund.
2 Only Canadian residents, who are over 18 years of age and have a valid Social Insurance Number, can make contributions to a Tax-Free Savings Account (TFSA). The annual contribution limit to TFSAs is set by the CRA and may be subject to changes. Generally, the maximum contribution room for a year is equal to the total of unused TFSA contribution room from previous years, withdrawals from TFSAs made in previous years and TFSA dollar limit for the year in question. The maximum annual contribution applies to all of your TFSAs held with HSBC or any other financial institution. Provided that contribution limits are not exceeded, income earned in a TFSA is not subject to Canadian taxes. Taxes of other countries may apply. Excess contributions to your TFSA are subject to taxes, interest and penalties. Unlike an RRSP, any money you contribute to a TFSA will not itself be tax-deductible.
The content herein is not intended to provide specific tax advice and should not be relied upon in this regard. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these services. For full details about TFSAs and how they relate to your own income tax and financial situation, please consult your personal tax advisor.