{"id":10222,"date":"2023-03-28T11:08:22","date_gmt":"2023-03-28T16:08:22","guid":{"rendered":"https:\/\/www.djclegal.com\/?p=10222"},"modified":"2023-03-28T11:14:36","modified_gmt":"2023-03-28T16:14:36","slug":"amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation","status":"publish","type":"post","link":"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/","title":{"rendered":"Amendment to the Prohibition of Purchase of Residential Property by Non-Canadians Regulation"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"10222\" class=\"elementor elementor-10222 elementor-10209\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bc3df3e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bc3df3e\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-40c349a\" data-id=\"40c349a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b5f80c0 elementor-widget elementor-widget-heading\" data-id=\"b5f80c0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\u2013 BREAKING NEWS - <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ff8eaf elementor-widget elementor-widget-heading\" data-id=\"8ff8eaf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">THE FEDERAL GOVERNMENT HEARS PUBLIC CRITICISM AND AMENDS REGULATIONS IN FULL FORCE<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e89da8 elementor-widget elementor-widget-spacer\" data-id=\"5e89da8\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e70d571 elementor-widget elementor-widget-text-editor\" data-id=\"e70d571\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\"><strong>Nothing can surprise us anymore in the saga of the ban on the purchase of residential buildings by non-Canadians. This controversial Act, adopted in June 2022 and followed by a Regulation published in extremis 10 days before its coming into force on January 1, 2023, for a maximum period of 2 years, has not ceased to captivate our attention.<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43c41f6 elementor-widget elementor-widget-text-editor\" data-id=\"43c41f6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\">In fact, against all odds yet following sharp criticism from the general public since early January, the federal government published yesterday, on March 27<sup>th<\/sup>, 2023, an amendment to its Regulations that replaces, adds, and repeals several sections. There will be substantial changes that will be in effect from its adoption, i.e. March 27, 2023, until December 31, 2024.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3bc22f3 elementor-widget elementor-widget-text-editor\" data-id=\"3bc22f3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\">Presented as wanting to &#8220;<em>increase the flexibility of newcomers and businesses seeking to increase the supply of housing in Canada<\/em>,&#8221;\u00b9 the amendment is one page long:<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f11969b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f11969b\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-47175bf\" data-id=\"47175bf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2ed1290 elementor-widget elementor-widget-heading\" data-id=\"2ed1290\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Temporary residents with a work permit: don\u2019t leave! <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9bd408f elementor-widget elementor-widget-text-editor\" data-id=\"9bd408f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\">The message is clear for temporary residents with work permits. Gone is the condition of having worked full time for three years prior to the purchase. The condition of having filed income tax returns for the four years preceding the purchase is also gone. The buyer only has to prove that at the time of purchase, his permit is still valid for at least 183 days, while maintaining the condition of having purchased a single residential building.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-77a84fd elementor-widget elementor-widget-heading\" data-id=\"77a84fd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Vacant land reopened for purchase by all<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63ef89d elementor-widget elementor-widget-text-editor\" data-id=\"63ef89d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\">The prohibition that had been created for vacant land has been repealed. It is therefore once again possible for a non-Canadian to buy a vacant lot and develop what they wish, in compliance with the municipal zoning.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2339b9b elementor-widget elementor-widget-heading\" data-id=\"2339b9b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">If it is to develop, no more ban!<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cd38546 elementor-widget elementor-widget-text-editor\" data-id=\"cd38546\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\">One of the exceptions in the Act is new: &#8220;<em>acquisition by a non-Canadian of residential property for the purposes of development<\/em>&#8220;. This means that a non-Canadian will be able to purchase a prohibited property (e.g., a house or duplex in a census agglomeration) if the acquisition is &#8220;<em>for the purposes of development<\/em>&#8220;. This is a generic formula that will also cause a lot of discussion\u2026 Especially since in its press release of March 27, 2023, the government, by error or clumsiness, does not use the same term &#8220;<em>development<\/em>&#8220;, referring instead to &#8220;<em>planning<\/em>&#8221; purposes. The debate is therefore launched on the exact nature of this exception.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-16ada4f elementor-widget elementor-widget-heading\" data-id=\"16ada4f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Control of companies by a non-Canadian<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4109df3 elementor-widget elementor-widget-text-editor\" data-id=\"4109df3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\">The decision to set at 3% of the value of the capital conferring 3% of the voting rights to establish the &#8220;<em>control<\/em>&#8221; of a non-Canadian in a company had been received as a shock. The amendment increases this participation from 3% to 10%. We are still not at 50%, but this increase must be noted, although in reality we are not convinced of the real impact of this change.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-62b611f elementor-widget elementor-widget-text-editor\" data-id=\"62b611f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"font-weight: 400;\">Finally, the exception currently applicable to publicly traded companies controlled by a non-Canadian is extended to publicly traded entities incorporated under federal or provincial law and controlled by a non-Canadian.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4949b07 elementor-widget elementor-widget-spacer\" data-id=\"4949b07\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb796d3 elementor-widget elementor-widget-text-editor\" data-id=\"cb796d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p data-ogsb=\"white\"><span data-ogsc=\"rgb(55, 55, 55)\">Written by Me <a href=\"https:\/\/www.djclegal.com\/notre-equipe\/ludovic-le-draoullec\/\" target=\"_blank\" rel=\"noopener\">Ludovic Le Draoullec<\/a><\/span><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49d097a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"49d097a\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-613f92d elementor-widget elementor-widget-text-editor\" data-id=\"613f92d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/www.newswire.ca\/news-releases\/amendments-to-the-prohibition-on-the-purchase-of-residential-property-by-non-canadians-regulations-895918485.html\" target=\"_blank\" rel=\"noopener\">https:\/\/www.newswire.ca\/news-releases\/amendments-to-the-prohibition-on-the-purchase-of-residential-property-by-non-canadians-regulations-895918485.htmlhttps:\/\/www.newswire.ca\/fr\/news-releases\/modifications-au-reglement-sur-l-interdiction-d-achat-d-immeubles-residentiels-par-des-non-canadiens-800449905.html<\/a><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e168c5e elementor-widget elementor-widget-spacer\" data-id=\"e168c5e\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>the federal government published yesterday, on March 27th, 2023, an amendment to its Regulations that replaces, adds, and repeals several sections. There will be substantial changes that will be in effect from its adoption, i.e. March 27, 2023, until December 31, 2024.<\/p>\n","protected":false},"author":2,"featured_media":10212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[39],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amendment to the Prohibition of Purchase of Residential Property by Non-Canadians Regulation - DJC Legal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amendment to the Prohibition of Purchase of Residential Property by Non-Canadians Regulation - DJC Legal\" \/>\n<meta property=\"og:description\" content=\"the federal government published yesterday, on March 27th, 2023, an amendment to its Regulations that replaces, adds, and repeals several sections. There will be substantial changes that will be in effect from its adoption, i.e. March 27, 2023, until December 31, 2024.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/\" \/>\n<meta property=\"og:site_name\" content=\"DJC Legal\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-28T16:08:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-28T16:14:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.djclegal.com\/wp-content\/uploads\/2023\/03\/achat-non-Canadiens.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"672\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"djc-admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"djc-admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/\"},\"author\":{\"name\":\"djc-admin\",\"@id\":\"https:\/\/www.djclegal.com\/#\/schema\/person\/d0635f92e8caf26463f85e0945498fa6\"},\"headline\":\"Amendment to the Prohibition of Purchase of Residential Property by Non-Canadians Regulation\",\"datePublished\":\"2023-03-28T16:08:22+00:00\",\"dateModified\":\"2023-03-28T16:14:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/\"},\"wordCount\":522,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.djclegal.com\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/\",\"url\":\"https:\/\/www.djclegal.com\/en\/amendment-to-the-prohibition-of-purchase-of-residential-property-by-non-canadians-regulation\/\",\"name\":\"Amendment to the Prohibition of Purchase of Residential Property by Non-Canadians Regulation - 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