CANADA FOREIGN BUYERS BAN - Permanent & Temporary Residents Exempt
Posted by Stephen Foster on
Prohibition on the Purchase of Residential Property by Non-Canadians (Foreign Buyers Ban)
Last week, the federal government released the supporting regulations for the 'Prohibition on the Purchase of Residential Property by Non-Canadians Act' (Foreign Buyers Ban) which includes definitions, exceptions, and enforcement elements to help individuals understand and comply with the law.
The measures were part of Bill C-19 – the Budget Implementation Act – which received royal assent on June 23, 2022 as the federal government looked to cool the hot housing market.
Read more from Finance Minister Chrystia Freeland : Bill C-19 - The Budget Implementation Act (Immigration.ca)
Parliament passed the 'Prohibition on the Purchase of Residential…
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