The Federal government’s new legislation banning foreign buyers from directly or indirectly purchasing property in Canada for a period of 2 years came into effect on January 1, 2023.
Who is a Foreign Buyer or Non-Canadian for the the purpose of this legislation?
The act defines a non-Canadian as:
- An individual who is neither a Canadian citizen nor a person registered as an Indian under the Indian Act nor a permanent resident;
- The Act restricts non-Canadians from avoiding the ban by...