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> The tax will apply to buyers who are not Canadian citizens or permanent residents, as well as corporations that are either not registered in Canada or control
by serge2k 10y ago
> The tax will apply to buyers who are not Canadian citizens or permanent residents, as well as corporations that are either not registered in Canada or controlled by foreigners.
Aren't we still letting people just buy permanent residence?
- potatolicious 10y agoYeah but they actually have to live in Canada - the loopholes around buying permanent residence as an insurance policy and then just never living in Canada were closed a long time ago. So if someone wants to full-hog move to Canada and buy a home in Vancouver, I feel like that's not the kind of activity we necessarily want to discourage.
- eigenvector 10y agoCanada does not have exit immigration controls, so PR residence fraud is still an issue. An agreement with the US to share data on people leaving Canada via the US has been announced and re-announced, but hasn't been implemented yet. Which is all to say that if you land in Canada, drive over the border and then fly abroad, the immigration bureaucracy still has no idea you've ever left.
- mahyarm 10y agoYou would need a new passport for that to work, and it increases barriers to doing so. In any large scale endeavor it's often about decreasing the number, changing the balanace vs. reducing it to zero. And it's often a ratchet, adding a law here and there to get to a result.
- sergers 10y agogenerally canada has disallowed this, but the quebec government still offers this. http://www.immigration.ca/en/quebec-immigrant-investor-program.html http://www.immigration.ca/en/quebec-immigrant-investor-progr... they dont strictly enforce the must live in quebec rule, most people end up mainly Vancouver and some % toronto