Refugees with special status

What do you need to know?

A refugee is someone who has fled their country because they are at risk of human rights violations and persecution there, unable to return, and are in need of protection. An exemption from the Non-Resident Speculation Tax (NRST) may be available to foreign nationals with protected person status if the following criteria are met:

• The foreign national is a protected person on whom refugee protection is granted to under section 95 of the Immigration and Refugee Protection Act (Canada),

• If the foreign national holds the property with any other transferees, those transferees must be individuals who are Canadian citizens, permanent residents of Canada, nominees or protected persons, and

• All transferees must certify that they will occupy the property as their principal residence.

Why does it matter to Ownright?

We need to determine purchasers’ eligibility to purchase a property in Canada and the applicability of the NRST to their particular situation. Exemptions to foreign purchaser restrictions and NRST may be available for refugees with special status. Additionally, as of January 2023, only foreign purchasers that fit within special exemptions can purchase a Canadian property.