Home and Residence
Sep 10th 2007, 9:59 pm
#1
Forum Regular
Thread Starter
Joined: Apr 2007
Posts: 42
Home and Residence
Hi
I am an American citizen and I want to buy a house in Vancouver and after that I want to apply for residency while I am in Canada. I have few questions about that
1 - Is there any tax implications for foreigners when they buy a home in Canada? if yes then how much could affect the purchasing price
2 - Is the immigration process for skilled workers is faster for the people who have a home in Canada ? I hear Buffalo office is so slow but I do not know what is the case if I apply from Canada
I am an American citizen and I want to buy a house in Vancouver and after that I want to apply for residency while I am in Canada. I have few questions about that
1 - Is there any tax implications for foreigners when they buy a home in Canada? if yes then how much could affect the purchasing price
2 - Is the immigration process for skilled workers is faster for the people who have a home in Canada ? I hear Buffalo office is so slow but I do not know what is the case if I apply from Canada
Last edited by ScottD; Sep 10th 2007 at 10:14 pm.
Sep 10th 2007, 10:34 pm
#2
Now on Vancouver Island
Joined: Feb 2005
Location: Nanaimo, British Columbia, Canada
Posts: 6,935
Re: Home and Residence
You can buy a house in Canada even if you are a non-resident of Canada.
To find out the incidental costs that you would incur if you bought a house in Canada, please see the BE Wiki article entitled Housing.
That article mentions land transfer tax. But, because the percentage varies from province to province, the article does not state the percentage. You can find out what you would have to pay in the way of land transfer tax in BC on this website.
You also might want to read the Wiki article entitled Tax and House Sales to find out the implications of selling a house in Canada if you are a non-resident for tax purposes.
Owning a property in Canada does not give you any entry and exit privileges that any other American citizen does not enjoy. You generally can enter and exit Canada as often as you like, but you can only stay in Canada for six months at a time. Also, remember that the immigration officer who greets you at the border always has the right to refuse admission to Canada. If you are not a Canadian citizen, then regardless of what your citizenship is and regardless of what kind of permission you think you have to enter Canada, the immigration officer always is allowed to use his/her discretion. You probably wouldn't encounter any problems, but I'm just warning you that admission to Canada is not a privilege that can be taken for granted.
And, no, the permanent residence application process is no quicker if you own property in Canada.
To find out the incidental costs that you would incur if you bought a house in Canada, please see the BE Wiki article entitled Housing.
That article mentions land transfer tax. But, because the percentage varies from province to province, the article does not state the percentage. You can find out what you would have to pay in the way of land transfer tax in BC on this website.
You also might want to read the Wiki article entitled Tax and House Sales to find out the implications of selling a house in Canada if you are a non-resident for tax purposes.
Owning a property in Canada does not give you any entry and exit privileges that any other American citizen does not enjoy. You generally can enter and exit Canada as often as you like, but you can only stay in Canada for six months at a time. Also, remember that the immigration officer who greets you at the border always has the right to refuse admission to Canada. If you are not a Canadian citizen, then regardless of what your citizenship is and regardless of what kind of permission you think you have to enter Canada, the immigration officer always is allowed to use his/her discretion. You probably wouldn't encounter any problems, but I'm just warning you that admission to Canada is not a privilege that can be taken for granted.
And, no, the permanent residence application process is no quicker if you own property in Canada.
Sep 10th 2007, 10:38 pm
#3
Now on Vancouver Island
Joined: Feb 2005
Location: Nanaimo, British Columbia, Canada
Posts: 6,935
Re: Home and Residence
Also, remember that, further to your questions about immigration in other posts:
- PR applications are taking 5+ years to process.
- After you receive a permanent residence visa and activate your PR status by “landing” in Canada, you have to spend two years out of every five years in Canada. I don’t know how easy it will be for you to accomplish that if you travel overseas for an American company.
