Chat with us, powered by LiveChat

The Government of Canada announced a series of amendments to the Foreign Buyer Ban. These amendments increase some exemptions to the regulations, and are effective immediately. Of the four main changes to the ban, three were directly targeted toward development and allowing non-residents to develop property for the purpose of increasing housing supply for Canadians.

The Foreign Buyer Ban allows non-Canadians to purchase residential property for the purpose of development and no longer applies to vacant land. Non-Canadians can now purchase vacant land zoned for residential use and use it for any purpose

The Foreign Buyer Ban now no longer applies to work permit holders. Those who hold a work permit or are authorized to work in Canada are allowed to purchase residential property. This exception will apply so long as the permit holders have 183 days of validity, or more, remaining on their permit, and have not purchased more than one residential property.