Non-registered
No contribution room required.
Units held directly, outside any registered plan — personally, through a corporation, or in a trust. No annual limit, no wrapper, no plan trustee in the middle.
You have filled the plansRRSP, TFSA and FHSA room used for the year, and money still to place.
You are incorporatedPhysicians, dentists, engineers, consultants and business owners investing corporate retained earnings.
A family trust or an estateHolding for beneficiaries, with no plan wrapper available.
An organisationA masjid, a school or a charity investing its own reserves. See also the Non-Profit Program.
How it differs from a registered plan
Simpler
- No contribution limit, and no room to track
- No plan trustee, so no transfer paperwork and no weeks of waiting
- Funded directly — most subscriptions settle in days rather than weeks
- Corporations, partnerships and trusts can subscribe, which registered plans cannot
Less sheltered
- Distributions are taxable in the year received, reported on a T3
- A return-of-capital component reduces your adjusted cost base rather than being taxed now — which defers tax, and increases the eventual gain
- No tax-free growth and no deduction on the way in
- An entity subscriber completes the dealer's entity application, not the individual one
An entity subscription is finished with a person, not on this screen. The dealer's entity application form is not something we can build around until they supply it, so a corporation, trust or foundation completes its subscription with a named dealing representative. You can still start here — everything you enter is kept and passed on, which shortens the call. Tawakkul Private Wealth is the door for a company or family trust; the institutional page is for a foundation, endowment or waqf with its own diligence process.
A corporation may not use the same exemption you do. The limits that apply to an individual under the offering memorandum exemption are not the limits that apply to a corporation, and a company formed solely to invest is treated differently again. The dealer determines which exemption applies to your entity, and it is worth asking your accountant before you begin.
Can my holding company invest?
Generally yes, and it is one of the most common cases. Which prospectus exemption the corporation relies on depends on its assets and on how it was formed — a company created only to make this investment is looked at differently. The dealer makes that determination.
How is it taxed?
Distributions are reported to you on a T3 each year. Part may be a return of capital, which is not taxed when received but reduces your adjusted cost base, so a larger capital gain arises when you eventually dispose of the units. Your accountant should see the T3.
How do I calculate zakat on units held this way?
The same way as any other holding of the fund — it does not change with the wrapper. There is a calculator on this site to work through it, and the honest answer is that scholars differ on the treatment of income-producing real property, so take the working to your own scholar.
Is the minimum different?
No. $500, the same as everywhere else.
How long does it take?
Without a plan trustee in the middle, usually days rather than the several weeks a registered transfer takes.
Begin a non-registered subscription.
Four questions to see what applies to you.
Or book fifteen minutes, or call 905 949 9119 and we will walk you through it.
No commitment
Talk to someone about your structure.
One form, and we will send you the document and follow up once. Nothing is submitted and nobody is added to a list you did not ask for.
- The Offering Memorandum, sent to you
- A person who answers questions, not a call centre
- No obligation, and no chasing
Thank you — that is all we needed.
Someone will be in touch within one business day. If you would rather not wait, call 905 949 9119 or message us on WhatsApp.
Read the Academy while you wait