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re: setting up Canadian corporations with foreign money > The release defines foreign corporations as companies "not incorporated in Canada or, incorporated in
by goatforce5 10y ago
re: setting up Canadian corporations with foreign money
> The release defines foreign corporations as companies "not incorporated in Canada or, incorporated in Canada, but controlled in whole or in part by a foreign national or other foreign corporation, unless the shares of the corporation are listed on a Canadian stock exchange."
It remains to be seen how much effort will go in to enforcement re: determining the ultimate ownership of companies investing in Vancouver real estate.
> According to a release, the government defines a foreign national as someone who is not a Canadian citizen or permanent resident, "including stateless persons."
Presumably your sister has permanent resident status and is exempt from the new tax because of that.
http://www.cbc.ca/news/canada/british-columbia/metro-vancouver-home-sales-foreign-buyers-tax-1.3694167 http://www.cbc.ca/news/canada/british-columbia/metro-vancouv...