Foreign Homebuyer Ban

Anyone who is neither a Canadian citizen nor a permanent resident will not be able to purchase a residential property in Canada as of Jan 1, 2023.

This ban is expected to last 2 years. The ban also includes non-Canadian company owners, which the regulations say will prevent them from avoiding the prohibition.

Some exceptions will be made. Temporary residents studying or working in Canada could be excluded if they meet certain guidelines. As well as refugees, accredited members of foreign ministers, and a spouse or common-law partner of a Canadian resident.

To learn more click here.