The new Prohibition on the Purchase of Residential Property by Non-Canadians Act (“Act”) will be in force for 2 years starting January 1, 2023. With some exceptions, this means that non-Canadians cannot directly or indirectly purchase any residential property. A non-Canadian is defined under the Act as: a. an individual…
Moratorium on Purchases of Residential Property by Non-Canadians Coming into Force on Jan 1, 2023
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