Your guide to selling RSUs on Carta in Canada

Holding equity on Carta can be a great benefit, but turning those shares into cash requires careful steps. For Canadians, this often means navigating cross-border transactions and currency exchange on top of the sale itself.

This guide explains the complete process of selling your private company shares through Carta, with a focus on Canadian financial considerations. We've also explained how Wise can help you efficiently manage your proceeds and save on currency conversion fees.

How do I sell my shares on Carta?

Selling shares in a private company is different from selling public stocks. Your ability to sell depends on your company's policies and whether there is an opportunity for a transaction.¹

Opportunities to sell are called liquidity events. Carta facilitates these events but does not guarantee them.¹ Common scenarios include company-led tender offers or secondary market transactions where you sell to another investor.²

Before you can sell, your shares must be vested, and your company must approve the sale. Carta's platform helps manage this process, but receiving your funds efficiently is a separate step to plan for.

What are the common ways to sell private company stock on Carta?

There are a few primary ways to sell shares managed on the Carta platform. The method available to you depends on your company's rules and market conditions.

• Tender Offers: Your company organizes a structured event, allowing shareholders to sell a portion of their shares back to the company or to a specific group of approved investors.¹ Carta's platform is often used to manage these offers.

• Secondary Transactions: You find a buyer for your shares on your own or through a secondary marketplace.1 The company must approve the transaction, and Carta helps facilitate the transfer of ownership once a deal is made.

The type of sale affects how and when you receive your money, which is important when planning for currency conversion.

What are the typical steps involved in a Carta share sale?

While each sale is unique, the process generally follows a structured path. Understanding these stages can help you prepare for a smooth transaction.³

1. Confirm Eligibility: Review your equity grant documents and company policies to understand when your shares are vested and eligible for sale.
2. Initiate Sale Request: Depending on the opportunity, you may express interest in a tender offer or list your shares for sale through a secondary market.¹
3. Find a Buyer: In a tender offer, the buyer is predetermined. In a secondary sale, you or a broker must find an interested and approved buyer.
4. Review and Accept Terms: Carefully review the share price, number of shares, and other conditions before agreeing to the sale.
5. Complete Documentation: You will need to sign legal documents, such as a stock transfer agreement, to formalize the sale.
6. Finalize the Sale: Once all parties have signed and the company provides final approval, Carta updates the cap table. You will then receive the proceeds, a step where currency conversion becomes critical.

What are the costs and fees when selling shares on Carta?

Selling private company shares involves several potential costs. These can include platform fees for facilitating a liquidity event or fees associated with the transaction itself.

Your company might also have its own fees for managing a buyback program¹. However, for Canadians, one of the most significant costs can be currency conversion.

If your shares are sold in US dollars (USD), converting those funds to Canadian dollars (CAD) through a traditional bank can involve high fees and poor exchange rates. Planning for this can help you keep more of your earnings.

How do currency exchange rates affect my sale proceeds?

The exchange rate determines how many Canadian dollars you get for your US dollars. Banks and certain payment providers often use a rate with a markup over the mid-market exchange rate.

What is the mid-market rate? The mid-market exchange rate is the rate you often see on Google. A markup is an extra charge hidden in the rate they offer you. This means you receive fewer Canadian dollars for every US dollar you convert.

When selling shares worth a significant amount, even a small difference in the exchange rate can result in losing thousands of dollars.

What are common mistakes when handling foreign exchange for share sales?

Avoiding common pitfalls during currency exchange can significantly increase your final payout. Being aware of these mistakes is the first step toward a smarter conversion.

• Accepting the first rate offered: Many people accept their bank's default exchange rate without comparing it. This is often the most expensive option.
• Ignoring transfer fees: Some services charge high fixed fees for international wire transfers on top of the poor exchange rate, further reducing your proceeds.
• Holding foreign currency too long: Waiting for a better exchange rate can be risky. If the market moves against you, you could lose money.

A wise approach involves finding a service that offers transparent fees and the mid-market exchange rate.

What tax implications should Canadians consider when selling on Carta?

When you sell shares for a profit in Canada, you likely have a capital gain4. A portion of this gain is taxable and must be reported on your income tax return.

The sale of shares on Carta will typically trigger a taxable event that you need to account for. You should keep detailed records of the sale, including the sale price and any associated fees.

Currency fluctuations between the time you acquire and sell the shares can also result in a foreign exchange gain or loss, which may have tax implications. It is always recommended to consult with a Canadian tax professional for advice tailored to your situation.

Wise for selling shares on Carta

After successfully selling your shares on Carta, getting your money into your Canadian bank account efficiently is the final step. If your proceeds are in USD, for example, Wise can help you manage the conversion and transfer.

With a Wise multi-currency account, you can get your own US account details. This allows you to receive USD from the sale directly, just like a local.

Once the money is in your Wise account, you can convert it to CAD using the mid-market exchange rate with a small, transparent fee. This avoids the high markups and hidden fees often charged by banks, ensuring you keep more of your hard-earned money.

Frequently Asked Questions

Can I transfer my Carta shares to a brokerage account before selling?

Transferring private shares from Carta to a brokerage account can be complex and is not always possible. It depends on your company’s policies and whether your brokerage accepts private, unlisted shares. Selling through a company-approved event on Carta is often more direct.¹

How long does it take to receive funds after selling shares on Carta?

The timeline for receiving funds varies. For tender offers, there is usually a set closing date and payment schedule. For secondary sales, it depends on how long it takes to find a buyer, get company approval, and complete the paperwork. Bank transfer times can add several more days to the process.

What if my shares are in USD and I need CAD?

This is a common scenario for Canadians. To maximize your return, it is important to use a currency conversion service that is transparent and cost-effective. You can avoid poor exchange rates and hidden bank fees by using a specialized provider for your conversion from USD to CAD.

Conclusion

A successful share sale on Carta is a great achievement, but your work is not done until the funds are in your account. By using a service like Wise for your currency conversion, you can avoid hidden bank fees and receive your funds using the mid-market exchange rate. With features designed for international transfers, you can manage your money across borders, convert currencies when you're ready, and send your funds to your Canadian bank account with ease.

Join Wise

Sources verified on 15 June 2026