Just about anyone can buy into real estate in Canada. There are different rules and regulations that are as unique as the provinces themselves, but for the most part, foreigners can buy property there just like native-born Canadians. If you want to invest in real estate in Canada, here are a few things you should know first.
You Can Buy and Own Property Under Special Conditions
There are some quid pro quo's about buying property in Canada when you do not live there and/or were not born there. First off, you can only buy property if you do not live there for more than six months of the year. This is great for anyone that just wants a cabin in the Canadian woods, but not so great if you have to relocate for work. If you are going to live in Canada for longer than six months but you still want to buy property there, you may have to apply for dual citizenship or take an extended leave of the country and then come back.
If you apply for dual citizenship, and you are granted dual citizenship, you may live in your Canadian home on your Canadian property for as long as you like or need to. As a citizen of Canada, you can buy more property and sell it too, although you will probably have to engage the assistance of a Canadian real estate agent first. Buying and selling more than one piece of property in Canada requires a real estate license, which you could not obtain without being a citizen first.
Throwing Your Money in with a Developer
The other way you could invest in Canadian property is by throwing your money in with a Canadian land developer. This would not require any particularly special licenses, permits or citizenship either. Your money is used to develop Canadian properties and then your invested portion grows and is returned to you whenever these properties sell. With the growing popularity of owning a vacation house in Canada, your monetary investment could yield a great profit in a very short time.
Seed Money for a Budding Real Estate Agency
More and more real estate agencies are cropping up in Canada. The property boom has begun, and licensed agents are seeing career paths growing and expanding with their own businesses. However, these new agencies need seed money, and are looking for foreign investors. You could stay home in your native country and still make money funding a real estate agency, all while collecting a percentage off the top of the property sales the agents make.