New exemptions to foreign buyer ban – learn more at our upcoming event
The federal government announced new changes to the foreign buyer ban they implemented January 1.
These changes include:
- Non-Canadians can now purchase residential properties for the purposes of development.
- Non-Canadians can now purchase vacant land that’s zoned for residential and mixed-use. The ban previously applied to all properties zoned for residential and mixed-use.
- An exemption for work permit holders. Now, work permit holders with 183 days or more of validity remaining on their work permit or work authorization can purchase one residential property.
- An increase in the corporation foreign control threshold from three per cent to 10 per cent for privately held corporations and/or entities created in Canada and controlled by a non-Canadian.
Get the latest details at our event!
To help you understand how this may affect you and your clients, we’ve invited Real estate lawyer Bijan Ahmadian to host our Foreign Buyer Ban: What REALTORS® Need to Know event.
Foreign Buyer Ban: What REALTORS® Need to Know
- Tuesday, April 4, 9 a.m. - 12 p.m. PDT
- Arras Banquet & Event Space, 1464 W. 7th Avenue, Vancouver.
- Tickets are $65 plus taxes.
- Worth 2 PDP hours
Before the presentation, enjoy a delicious buffet breakfast with eggs, bacon, hashbrowns, pastries, French toast, fruit salad, and coffee and assorted juices.
Bijan’s presentation will focus on these new changes and how the law can impact residential and commercial Realtors. He’ll also share best practices for complying with those new obligations and answer as many of your questions as time allows.