Foreigners buying real estate in Canada but not immigrants (sales, oceanfront)

[nuala]

I think foreigners can buy real estate (land, houses, condos) in Canada pretty easy. How does it have to correlate with their immigration status? How long a person who bought property in Canada is allowed to stay in Canada?

[ajau]

Originally Posted by nuala

I think foreigners can buy real estate (land, houses, condos) in Canada pretty easy. How does it have to correlate with their immigration status? How long a person who bought property in Canada is allowed to stay in Canada?

Each province has different rules regarding this. I know until very recently Saskatchewan wouldn't allow land sales beyond a certain size to non-Canadians. I have heard as well that in PEI land sales along the shoreline are restricted to Canadian citizens.

[nuala]

No restrictions in Nova Scotia:

"Prices for waterfront property in Nova Scotia have been inflated in some small areas, but in most cases oceanfront and lakeside lots remain affordable for local buyers and a bargain for foreign investors. Germans and Americans quantify the majority of foreigners buying up real estate in Nova Scotia."

Real Estate in Nova Scotia

And apparently no restrictions on the amount of property you buy in Canada:

"There are a few things to keep in mind when investing in property in Canada by foreigners. Firstly, there are no restrictions or limitations of the amount of property you may buy. "

http://baddeck.homezilla.ca/blog/foreign-land-ownership-in-nova-scotia/

[Cornerguy1]

Owning property in Canada does not change your immigration status or allow you to stay longer than a person of the same immigration status who is not a property owner.

In other words, merely buying a condo isn't going to allow you to suddenly stay as long as you wish.

[Acajack]

Originally Posted by ajau

Each province has different rules regarding this. I know until very recently Saskatchewan wouldn't allow land sales beyond a certain size to non-Canadians. I have heard as well that in PEI land sales along the shoreline are restricted to Canadian citizens.

Used to be off-limits to non-Islanders as well I believe, but that was changed a few years ago.

[ajau]

Originally Posted by nuala

No restrictions in Nova Scotia:

"Prices for waterfront property in Nova Scotia have been inflated in some small areas, but in most cases oceanfront and lakeside lots remain affordable for local buyers and a bargain for foreign investors. Germans and Americans quantify the majority of foreigners buying up real estate in Nova Scotia."

Real Estate in Nova Scotia

And apparently no restrictions on the amount of property you buy in Canada:

"There are a few things to keep in mind when investing in property in Canada by foreigners. Firstly, there are no restrictions or limitations of the amount of property you may buy. "

http://baddeck.homezilla.ca/blog/foreign-land-ownership-in-nova-scotia/

This link only explains the situation in Nova Scotia, not for all of Canada... Real Estate and Land Controls in Canada are controlled by the provinces, not the feds.

[nuala]

Originally Posted by Cornerguy1

Owning property in Canada does not change your immigration status or allow you to stay longer than a person of the same immigration status who is not a property owner.

In other words, merely buying a condo isn't going to allow you to suddenly stay as long as you wish.

Well, if I wanted to advertise real estate to foreigners, this won't be a nice and fuzzy thing for them to hear. Someone drops a couple of millions on a house and is gently taken by the elbows out of the country.

Not saying someone should be jumping the lines, just saying it doesn't seem to work together somehow.

[mikeyyc]

Property ownership does not convey citizenship. Seems pretty straight forward.

[George rosenberg]

Buying a property is different from immigration!! For example certain foreclosure deals would lead to profit but that is only business and does not mean that you are immigrating.