Exemptions to Foreign Buyer Ban Enabling Work Permit Holder to Purchase Homes in Canada

Dated: March 30 2023

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Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act enabing more work permit holders to purchase a home to live in while working in Canada.

The amendments will allow those who hold a work permit or are authorized to work in Canada under the Immigration and Refugee Protection Regulations to purchase residential property. Work permit holders are eligible if they have 183 days or more of validity remaining on their work permit or work authorization at time of purchase, and they have not purchased more than one residential property. The current provisions on tax filings and previous work experience in Canada are being repealed.

Click here to read the full article at the website of Canada Mortgage and Housing Corporation (CMHC)

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Neeraj Kumar

Neeraj Kumar Real Estate Team is providing their excellent services in Metro Vancouver. Neeraj and his team are here to help families complete smooth & stress free transition. Call at 604-363-2370....

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