Cost of Buying | Ongoing
Foreign Buyer Rules
Two separate rules operate here, one federal and one provincial, and the consequences of getting either wrong are serious enough that this page names sources rather than giving you an answer.
The short answer
A federal restriction limits purchases of residential property by non-Canadians, with exceptions. Separately, BC charges an additional property transfer tax on foreign purchasers in designated areas. Both have detailed definitions and exceptions, and they need advice specific to your status.
Two separate rules
The federal measure restricts who may purchase residential property. The provincial additional property transfer tax charges an extra amount on foreign purchasers in designated areas of BC. They are independent: one is about whether you may buy, the other about what you pay.
It is possible to be affected by one and not the other, which is part of why summaries of this area are so often wrong.
Why this page will not give you an answer
Whether either applies turns on definitions of residency, immigration status, and the property's location, and there are exceptions in both. The cost of being wrong is a purchase that cannot complete or a tax bill measured in six figures.
That is beyond what a real estate website should be answering. Take your specific status to a lawyer before you write an offer, not after.
What to do if this might affect you
Get legal advice specific to your immigration status and the property you are considering, and get it early enough to shape your search.
- → Confirm your status against the current federal rules with a lawyer
- → Confirm whether the property sits in a designated area for the additional tax
- → Do this before making an offer, since it can affect whether a purchase can complete
- → Do not rely on a summary, including this one, or on an agent's general reassurance
Read next
Common questions
Can a non-Canadian buy a home in BC?
A federal restriction limits purchases of residential property by non-Canadians and there are exceptions. Whether it applies to you turns on definitions of status and residency, so this needs legal advice specific to your circumstances before you make an offer.
What is the additional property transfer tax?
A provincial tax charged on foreign purchasers of residential property in designated areas of BC, separate from and in addition to the standard property transfer tax. Whether it applies depends on your status and where the property is.
Why does this page not give me the rates?
Because whether either rule applies depends on definitions that a summary cannot resolve for your situation, and being wrong can mean a purchase that cannot complete or a very large unexpected bill. The right answer here is a lawyer, not a website.
Where these figures come from
- Government of BC, property transfer tax rates
1% to $200,000, 2% to $2M, 3% above $2M, plus a further 2% on residential value above $3M.
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- Government of BC, speculation and vacancy tax
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Work the numbers on a real home
Every figure here comes from government sources and from listings you can open. Search the market and check the costs against a specific price rather than a hypothetical one.