Canada bans most foreigners from buying homes

Re:Canada bans most foreigners from buying homes by givemeethekeys on Tuesday January 03, 2023 @03:29AM (#34229184)

Wouldn't the following still work?

Step 1: Create a Canadian company. Own 100% of its shares.

Step 2: Buy property in all-cash transactions.

Step 3: Enjoy ownership as a foreign buyer.

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Re:Canada bans most foreigners from buying homes by NoboruWataya on Tuesday January 03, 2023 @06:07AM (#34230095)

I don't know about this ban specifically, but most regulations these days are sophisticated enough not to be bypassed with a simple foreign-owned subsidiary. No doubt there will be ways to structure around the ban, but I would be surprised if such a simple structure were to work.

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Re:Canada bans most foreigners from buying homes by smnrchrds on Wednesday January 04, 2023 @12:43PM (#34248793)

No, it won't. Foreign entity cannot have interest in Canadian homes. Owning the company that owns the home is having interest, thus is covered by the ban. This is explained in the link.

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