Working Overseas and Purchases in Canada
If I work overseas and do not file taxes in Canada, can I still purchase in Canada?
Yes we can do it, but there are some general requirements for this.
Minimal down payment 35%.
The down payment have to come from Canada also, so client needs to open a new bank account in Canada for the down payment. If the source or fund comes from overseas, client needs to transfer the funds to a Canadian account and provide the wire transfer to prove that the account is under their name(same account holder). The fund should be seasoned in the Canadian account for 90 days.
Before the closing, the client’s Canadian account must show enough funds for at least 1 year payment accumulative (12 months of reserve).
Please note that each Investor’s requirement for this program might be different.