Sukh Bhaura,
Real Estate Broker Mobile: 4165432005
Email: sbhaura@gmail.com

 

Investing in Canada

Non-residents can legally buy, own and sell real estate in Canada. Ontario (like most other provinces in Canada) has no restrictions on foreign ownership of real estate.

 

If you stay in Canada for 6 months or less per year, you are considered a non-resident. You must apply for immigrant status, if you stay in Canada for more than 6 months.

 

A non-resident can open a bank account and buy property. Usually, with a 35% down payment, mortgage financing can be arranged through local banks and mortgage brokers.  

 

Canadian income taxes are complex and the taxation of Canadian real estate depends on whether the use of the property is for a principal residence, an active business or as a rental property. We suggest to seek advice from a qualified tax expert and/or accountant to discuss individual tax concerns.

 

Real Estate in Ontario is organized and governed by the Real Estate Council of Ontario (RECO), the Ontario Real Estate Association (OREA) and the Canadian Real Estate Association (CREA). A licensed Realtor registered with the Toronto Real Estate Board (TREB) can show any property listed for sale on the Multiple Listing Service (MLS). It is not necessary to have more than one Realtor working for you.

 

 

 

 

Sukh Bhaura,
Real Estate Broker
Mobile: 4165432005
Email: sbhaura@gmail.com

 

Canamera Realty

27 ARMTHORPE RD
BRAMPTON, ON, L6T 5M4
About Me