The bottom line is that buying real estate in Canada is very easy!From a residency point of view, if you plan to stay in Canada for 6 months or fewer each year, the Canadian government considers you a non-resident, which means that you can still open a bank account and buy property, and so on. If you plan to live in Canada for more than 6 months per year, you must apply for immigrant status.
It is important to note, however, that while the majority of Provinces (British Columbia, Ontario, Quebec, Nova Scotia, Newfoundland, New Brunswick) have no restrictions on foreign ownership of real estate in Canada, some do limit the amount of property/land that a non-resident can purchase. On Prince Edward Island, non-resident buyers must apply to the Island Regulatory and Appeals Commission for land over 5 acres in size, or land with a shore frontage greater than 165 feet. In Manitoba, non-residents are prevented from owning farmland unless they actually plan to move there within 2 years. Non-residents may not own land over 10 acres in size in Saskatchewan, whilst in Alberta they may only own up to 2 plots of land not exceeding 20 acres in total.
Note: Information on investing in Canadian Real Estate is provided for informational purposes only and does not constitute professional advice. For more information, consult legal, financial and real estate professionals, as appropriate.
