Non-Canadians can’t buy a lot of real estate
Brandon Donnelly
FEBRUARY 13, 2023
The Prohibition on the Purchase of Residential Property by Non-Canadians Act — which came into effect in January of this year and bans foreigners from buying residential real estate in the country for two years — is weird. As well, an entity is deemed foreign if a non-Canadian owns a minimum of 3 per cent of the entity.
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