World of Opportunities
Foreign Ownership of Property
The rules around foreigners buying real estate in Canada aren’t actually related to citizenship – even citizens of Canada who don’t reside here for more than half the year are considered non-residents (and thus subject to all the same rules). Canada welcomes home buyers from all countries, and there are no restrictions on the amount or kind of real estate you can buy.
Owning a property in Canada does not give you any immigration privileges and if you want to live in Canada, you’ll still need to qualify under Canada’s Immigration Laws.
Financing
While Canadian lenders do finance the home purchases of non-residents, they usually require significantly larger down payments. Most of our non-resident clients are required to have a 35% -50% cash downpayment. Lenders will require you to verify your income and credit worthiness and prove that you can pay the mortgage. Also, mortgage interest rates may be higher than what Canadian residents would pay (though in our experience, they are still very attractive rates).
Destined4Canada Inc. will assist you to purchase real estate of your choice either as a vacation home, residence or as a rental income in Canada.