What are the Major Exemptions for Canada’s Foreign Buying Ban

The following is a list of exemptions within the Foreign Buyer Ban regarding the purchase of residential properties in Canada.

Who is exempt?

1. International students who have filed tax returns for the past five years and have spent the majority of the past five years in Canada are excluded. In addition, the purchase price of the residential property must not exceed $500,000.; and they have not purchased more than one residential property.
2. Those that hold a work permit may also be excluded. They must have worked in Canada for a minimum of three years within the four years preceding the purchase and filed tax returns for at least three of the four years. They have not purchased more than one residential property.
3. A non-Canadian who purchases residential property in Canada with their spouse or common-law partner if the spouse or common law-partner is a Canadian citizen.
4. A person registered as an Indian under the Indian Act,
5. A permanent resident
6. A temporary resident that meets the requirements of the Immigration and Refugee Protection Actand Regulations, satisfying prescribed conditions to enter or remain in Canada. Only foreign nationals physically in Canada hold temporary resident status. This can include visitors, students, workers and temporary resident permit holders.
7. A person of a prescribed class, such as a refugee as defined under the Geneva Convention (referred to as a convention refugee).
8. A foreign state purchasing residential property for diplomatic or consular purposes.
9. A protected refugee whose claim or application has not been rejected.

A foreign buyer would likely have to provide evidence of exemption.