Posts tagged with: foreign investor

FOREIGN BUYERS BAN

Prohibiting The Purchase of Residential Property By Non-Canadians December 30, 2022 Starting in January 2023, the new Federally Legislated Act will prohibit individuals who are not Canadian citizens or permanent residents of Canada (collectively, “non-Canadians”) from purchasing residential property in Canada for a period of two years. The prohibition also applies to corporations that are [&hellip

New Property Transfer Tax – B.C.’s Real Estate Market

As of August 2, 2016, any home purchased in Metro Vancouver by a foreign buyer will be subject to the Property Transfer Tax (PTT), a new 15% tax by the B.C. government. The tax legislation is part of the B.C. government’s efforts to relieve pressure on Metro Vancouver’s overheated residential real estate market, and address low vacancy [&hellip