Government eases some restrictions on non-Canadians including Work Permit Holders purchasing property

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With these new amendments restrictions on work permit holders have been relaxed. Non-Canadians in the country on a work permit or who are authorized to work in Canada can now purchase residential property. They must have at least 183 days or more remaining on their work permit or work authorization and must purchase only one property to be eligible. Read the full article published by Canada Mortgage and Housing Corporation here.

Local Realtor Neeraj Kumar said we still need some clarity over foreign buyers tax. He suggested to check with your real estate lawyer if you will be liable to pay 20% foreign buyers tax when you purchase the property in Canada while on a work permit.


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