Frequently asked questions: non-Canadian funds selling in Canada

Securities and Corporate Finance Alert

Canadian investment in closed-ended foreign funds

This FAQ provides a high-level overview of certain regulations applicable to non-Canadian closed-ended investment funds marketing to Canadian investors.

Find answers to five key questions on the regulation of foreign closed-ended funds: 

  • Can a foreign investment fund sell its securities to Canadian investors without being registered in Canada?
  • Are there restrictions on who the foreign investment fund can market and sell to?
  • Can venture capital funds sell securities to Canadian residents without being registered as a dealer, adviser or investment fund manager?
  • Can the fund use offering documents?
  • What reporting, registration or filing requirements will be imposed?

This paper is not a legal opinion and should not be considered to be a legal opinion. It is therefore important that you consult the information contained herein for general guidance purposes only.