PURCHASING AND SELLING REAL ESTATE
Many businessmen when starting a business in Canada purchase real estate. When purchasing real estate in Canada there are different requirements and restrictions in different provinces.
In British Columbia there is no restriction on non-Canadians purchasing property. In Alberta there are certain restrictions on non-Canadian individuals or non-Canadian companies purchasing property.
In British Columbia there is a clear and simple method of checking previous ownership and mortgages and charges registered on title of the property you wish to purchase. In Ontario there are special procedures required to check title to the property you wish to purchase.
In British Columbia there is a property transfer tax that must be paid. There is a first time home buyers exemption from paying the property transfer tax. However there are a number of exceptions that restrict obtaining the exemption For example, this exemption is not available to non-Canadians.
Purchasing and selling real estate can be challenging and different rules and laws apply in different jurisdictions.
Brian Edward Tadayoshi Tsuji
Canadian Immigration Lawyer
2800 Park Place
666 Burrard Street
Vancouver, British Columbia, Canada, V6C 2Z7
Tel:(604) 643-6496 Fax:(604) 605-3596