Canadian real estate has long attracted international attention because of its stable communities, established legal system, and globally connected cities. Regulations, however, can materially affect who may purchase and the total cost of ownership.
Understand the current rules
Federal restrictions and provincial non-resident taxes may apply depending on the buyer, property, and location. Rules can change, making current legal and tax advice essential before an offer is prepared.
Look beyond purchase price
Currency movement, financing, property management, insurance, taxation, and future disposition should be considered together. A property that appears attractive at acquisition may carry obligations that materially alter its performance.
Local representation matters
International purchasers benefit from coordinated advice involving a real estate representative, lawyer, tax professional, and lender familiar with non-resident transactions.
Adapted from the Seven Estates archive. View the original article.