Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

Prohibition on the Purchase of Residential Property by Non-Canadians Regulations

Version of section 5 from 2023-03-27 to 2024-05-28:


Marginal note:Temporary residents — prescribed conditions

 For the purposes of paragraph 4(2)(a) of the Act, the temporary resident must satisfy one of the following conditions:

  • (a) if they are enrolled in a program of authorized study at a designated learning institution, as defined in section 211.1 of the Immigration and Refugee Protection Regulations,

    • (i) they filed all required income tax returns under the Income Tax Act for each of the five taxation years preceding the year in which the purchase was made,

    • (ii) they were physically present in Canada for a minimum of 244 days in each of the five calendar years preceding the year in which the purchase was made,

    • (iii) the purchase price of the residential property does not exceed $500,000, and

    • (iv) they have not purchased more than one residential property; or

  • (b) if they hold a work permit, as defined in section 2 of the Immigration and Refugee Protection Regulations, or are authorized to work in Canada under section 186 of those Regulations,

    • (i) they have 183 days or more of validity remaining on their work permit or work authorization on the date of purchase, and

    • (ii) they have not purchased more than one residential property.

    • (iii) [Repealed, SOR/2023-66, s. 5]

  • SOR/2023-66, s. 5

Date modified: