Non-Residents: Buying Real Estate in Canada

Non-residents are permitted to stay in Canada 180 days each year.  Non-residents are generally not resticted from buying properties in British Columbia. 

Mortgage financing

As a non-resident, mortgage financing is generally available at 65% so you'll need 35% as a down payment. Some lenders may require 40% or more depending on your circumstances and the property. Qualifying for mortgage financing in Vancouver is similar to other countries and can usually be accomplished via fax and e-mail. The mortgage approval may take a few days and the mortgage broker will advise you what information they need.  The borrower will require the services of a Canadian lawyer or notary public to prepare the mortgage documents and registration at the Land Titles office. Documents can be couriered outside Canada for signing - this can be arranged with the lawyer and lender well in advance of the completion date.

Purchase Costs

Costs to purchase real estate in Vancouver, BC are the more or less the same for residents and non-residents. They are listed on our Buying: Costs for your perusal.

Realtor Commissions

In the Vancouver real estate market realtors commissions are paid by the Seller so as a Buyer you generally do not pay any commissions. The Seller typically pays one commission which is then split betwen the Buyer's and Seller's realtors. See our Selling: Costs section for more on commissions.

Legal Fees

Given the potential complexity of offshore real estate transactions we recommend that as a non-resident purchaser you retain a lawyer to facilitate your transaction. Please visit our Lawyers and Notaries page for recommended local lawyers.

Renting your property to tenants

For details on purchasing real estate for the purposes of renting, visit our Buying: Tenancy Issues section.