{"id":11912,"date":"2023-03-27T11:33:00","date_gmt":"2023-03-27T15:33:00","guid":{"rendered":"https:\/\/cainlamarre.ca\/?post_type=publications&#038;p=11912"},"modified":"2023-04-04T10:20:49","modified_gmt":"2023-04-04T14:20:49","slug":"news-in-immigration-the-prohibition-on-the-purchase-of-residential-property-by-non-canadians-came-into-force-on-january-1st-2023","status":"publish","type":"publications","link":"https:\/\/cainlamarre.ca\/en\/publications\/news-in-immigration-the-prohibition-on-the-purchase-of-residential-property-by-non-canadians-came-into-force-on-january-1st-2023\/","title":{"rendered":"News in Immigration: the prohibition on the purchase of residential property by non-Canadians came into force on January 1st, 2023"},"content":{"rendered":"<div class=\"page-module page-module-wysiwyg\">\n<p>The provisions of the Prohibition on the Purchase of Residential Property by Non-Canadians Act are effective since January 1st, 2023, for a 2-year period, and limit access to real estate ownership for certain temporary residents already in Canada, and for all who plan to stay in Canada by January 2025. This is an important element to consider during the overall integration process of your temporary foreign workers. You will find hereunder the key points of this prohibition, and the situations in which the prohibition may not apply.<\/p>\n<\/div>\n\n<div class=\"page-module page-module-wysiwyg\">\n<h2 class=\"wp-block-heading\">Here are some important elements to keep in mind:<\/h2>\n<\/div>\n\n<div class=\"page-module page-module-wysiwyg\">\n<ul><li>The new Act prohibits the purchase of residential property by non-Canadians from January 1st, 2023 to January 1st, 2025.<\/li><li>The ban does not apply to non-Canadians who already have permanent resident status, or who are considering purchasing in co-ownership with their spouse or common-law partner, already a Canadian citizen or permanent resident.<\/li><li>The ban also exempts certain foreign nationals who have temporary residential status (students and workers), provided however that they meet all the requirements prescribed under the Regulation respecting the application of the Act.<\/li><li>With regards to temporary foreign workers, the requirements to access ownership of property despite the provisions of the Act are as follows:<ul><li>The worker must have 183 days or more of validity remaining on his or her work permit or work authorization on the date of purchase; AND<\/li><li>This must be the only residential property purchased by the worker.<\/li><\/ul><\/li><li>Finally, the prescribed real property or immovables that are not located in a census agglomeration or census metropolitan area are excluded from the ban.<\/li><\/ul>\n<\/div>\n\n<div class=\"page-module page-module-wysiwyg\">\n<p>It is important to be cautious on the matter as the Act provides sanctions for every person or entity that counsels, induces, aids or abets or attempts to counsel, induce, aid or abet a non-Canadian to purchase property in contravention of these provisions. Such a person, for example, is liable to a maximum fine of $10,000.<\/p>\n<\/div>\n\n<div class=\"page-module page-module-wysiwyg\">\n<p>Our teams of professionals in immigration law and real estate law can guide and assist you in understanding these new provisions and their tangible impact on your strategies when recruiting and retaining foreign workers. Do not hesitate to contact us.<\/p>\n<\/div>\n\n<div class=\"page-module page-module-wysiwyg\">\n<h2 class=\"wp-block-heading\">About us<\/h2>\n<\/div>\n\n<div class=\"page-module page-module-wysiwyg\">\n<p>With our team of professionals, lawyers, notaries and tax specialists covering the entire Quebec territory, Cain Lamarre is the most well-established law firm in Quebec and one of the largest in the province.<\/p>\n<\/div>\n\n<div class=\"page-module page-module-wysiwyg\">\n<p><strong>Contact us for more information:<\/strong> <a href=\"mailto:immigration@cainlamarre.ca\">immigration@cainlamarre.ca<\/a><\/p>\n<\/div>","protected":false},"featured_media":11909,"template":"","publications-type":[380],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>News in Immigration: the prohibition on the purchase of residential property by non-Canadians came into force on January 1st, 2023 - Cain Lamarre<\/title>\n<meta name=\"description\" content=\"D\u00e9couvrez nos derni\u00e8res publications juridiques pour rester \u00e0 jour sur les nouveaut\u00e9s et les changements dans le domaine du droit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cainlamarre.ca\/en\/publications\/news-in-immigration-the-prohibition-on-the-purchase-of-residential-property-by-non-canadians-came-into-force-on-january-1st-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News in Immigration: the prohibition on the purchase of residential property by non-Canadians came into force on January 1st, 2023 - 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