Non-Canadian Buyer and Exemptions

If are you unsure of your status in regards to purchasing residential properties, whether presale or resell, here is some info for you: 

The Prohibition on the Purchase of Residential Property by Non-Canadians Act applies to individuals who aren’t:

  • Canadian citizens, or
  • permanent residents of Canada, or
  • persons registered under the Indian Act

The prohibition also applies to corporations and entities that are:

  • formed under the laws of Canada or a province, and
  • not listed on a stock exchange in Canada, and
  • controlled by someone who is a non-Canadian

EXEMPTIONS:

Temporary residents studying in Canada, if they:

  • are enrolled in a program of authorized study at a designated learning institution as defined in the Immigration and Refugee Protection Regulations, and
  • have filed income tax returns for each of the 5 taxation years preceding the year in which the purchase was made, and
  • have been physically present in Canada for a minimum of 244 days in each of the 5 calendar years preceding the year in which the purchase was made, and
  • have not previously purchased a residential property in Canada while the prohibition is in effect, and
  • purchase a property for a price not exceeding $500,000

Temporary residents working in Canada, if they:

  • hold a valid work permit or are authorized to work in Canada, and
  • have 183 days or more of validity remaining on their work permit or work authorization at the time of purchase, and
  • have not previously purchased a residential property in Canada while the prohibition is in effect

Refugees, if they:

  • have been given refugee protection or are a protected person under the Immigration and Refugee Protection Act

Refugee claimants and individuals fleeing international crises, if they:

  • have made a claim for refugee protection in accordance with the Immigration and Refugee Protection Act, if that claim has been found eligible and referred to the Refugee Protection Division; or
  • have received temporary resident status in accordance with the Immigration and Refugee Protection Act based on humanitarian public policy considerations to provide a safe haven to those fleeing conflict

Accredited members of foreign missions in Canada, if they:

  • hold a passport that has a valid diplomatic, consular, official, or special representative acceptance issued by the Chief of Protocol of Canada

Non-Canadians spouses and common-law partners, if they:

  • purchase residential property in Canada with their spouse or common-law partner who is a Canadian citizen, a person registered under the Indian Act, a permanent resident or a non-Canadian for whom the prohibition does not apply.

Source: CMHC

THIS IS NOT LEGAL ADVICE. You will need to seek consultation from a legal professional and/or verification from the Canadian Government. 

Latest Guide
Trending Topic

Compare listings

Compare
Property

Register as Our VIP User & Receive Early info and incentives

Please enter accurately in order for us to serve you better

By submitting, you have read and agreed to our Privacy Policy & Terms of Use.

OUR LISTING PROCESS

Clear and stress-free steps to guide you through the complexity of listing your property on the market, public or private.

STEP 1

Fill out the Seller inquiry form

This is your initial contact point. Submit the listing inquiry form, and we will reach out to you via email or phone to schedule a discovery call. You can also specify a preferred time for us to call you back in the message field.

STEP 2

Two way discovery

We will ask you a series of questions to determine the best approach for selling your property. We will also provide details on our listing strategies and packages for you to choose from. Additionally, this step allows you to ask any questions you may have about our process.

STEP 3

You pick how you'd like to proceed

Once you have a day or two to digest everything we discussed, we’d love to hear your decision. Let us know: 1. Which strategy you’d like us to implement for selling your property. 2. Which Tiered Service Level best suits your needs, so we can tailor our approach accordingly.

STEP 4

Reporting and pricing your property

After receiving a clear intention from you, we will proceed with conducting a Comparative Market Analysis and providing you with a detailed report. This report will help us determine the most effective pricing strategy for your property. This step can be completed either in person or remotely.

STEP 5

Decision and contract

At this stage, you will have gathered all the necessary information about our process, costs, strategies, and your property's value. The decision on pricing, listing duration, and other details is entirely up to you. To comply with the Real Estate Act and regulations, we will need to meet in person for the listing contract signing.

STEP 6

Listing preparation

Depending on the chosen service level, we will conduct a property photo shoot, 3D tour scan, floor plan measurements, brochure printing, and/or staging before the listing goes live to the public

STEP 7

Listed!

Your listing is live! The listing process is now complete, and we are moving full steam ahead with advertising, digital promotions, and social media marketing. At this stage, we are fully engaged in the 'Sales Process,' which includes open houses, private showings, offer negotiations, and more.