Ownership in Canada

OWNERSHIP IN CANADA ~

I have spent many hours on the internet researching foreign ownership of real estate in British Columbia.
I have contacted The Real Estate Council of BC, UBC Real Estate Division and the BC Real Estate Association. 
At the time of this writing I have been unable to find any restrictions related to foreign ownership of real estate in BC.
http://canadaonline.about.com/
I do know that there are, as in the United States, certain tax implications on the sale and rent of properties owned by individuals. Whether or not there are any taxes imposed by Canada Customs and Revenue agency specifically directed towards foreign ownership is beyond my realm of knowledge and should be discussed with a professional.
There is no visa requirement for entry into Canada or BC by US citizens. It would be wise however, to carry a passport or sufficient documentation to prove citizenship (driver’s license and birth certificate). More info is available at:
http://www.cic.gc.ca/
Canada has an impeccable banking system that is recognized as one of the most stable in the world. Unlike the US there was not a single bank failure during the great depression.
http://www.reuters.com/article/2008/10/09/us-financial-soundest-banks-idUSTRE4981X220081009
British Columbia’s land registry system is one the most sophisticated in North America. The modified Torrens system of land registration assures the principle of “indefeasibility” (guarantee of title). 
Canada is the second largest country in the world, resource rich with one fifth of the world’s fresh water resources. Canada has a gun registry system and handgun use is permitted only in a certified range environment. The violent crime rate is statistically one tenth that of the US.
It is a safe, clean and wonderful place to regain you physical and spiritual health.

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Leon Barnett

Mobile: 778-686-0184

Phone: 250-982-2704

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Interior Properties Real Estate

2-25 Fourth Avenue South  Williams Lake,  British Columbia  V2G 1J6 

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