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GUIDES FOR BUYING

Foreign Buyer Process for Each Country

GUIDES FOR BUYING

Buying property as a foreigner comes with its own set of rules and requirements. Our guides outline the step-by-step process for each country, including

Residental

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  • Legal Requirements: What documents do you need? Are there restrictions on foreign ownership?
  • Purchasing Process: From finding a property to closing the deal, we’ll walk you through each stage.
  • Local Expertise: Tips on working with real estate agents, lawyers, and notaries in your chosen country.

Studio

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Office

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Home

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Commercial

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Apartment

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Visa & Residency Rules
for Canadian Buyers

  • Golden Visa Programs: Countries like Portugal and Spain offer residency or citizenship through real estate investment.
  • Retirement Visas: Ideal for Canadians looking to settle in warmer climates like Mexico or Thailand.
  • Work Visas: If you’re relocating for a job, we’ll help you navigate the visa process.

Tax Implications & Foreign Exchange Considerations

Investing in foreign real estate involves more than just buying property. Our guides provide clarity on:

  • Tax Obligations: Learn about property taxes, capital gains taxes, and any double taxation agreements between Canada and your chosen country.
  • Foreign Exchange: Understand how currency fluctuations can impact your investment and strategies to mitigate risks.
  • Financial Planning: Tips on managing cross-border finances, including banking and mortgage options.
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Buying Process & Legal Requirements

Investing in real estate abroad is an exciting opportunity, but it comes with its own set of challenges—especially when it comes to understanding the buying process and legal requirements. Whether you’re a Canadian buyer looking for a vacation home, an investment property, or a place to retire, this guide will walk you through everything you need to know to navigate the process with confidence.

Understanding the Buying Process

Step 1: Research and Planning
  • The buying process can vary significantly from country to country, but here’s a general overview of what to expect:
  • Choose a Location: Consider factors like market trends, lifestyle, and accessibility.
  • Set a Budget: Factor in purchase costs, taxes, and ongoing expenses like maintenance and property management.
  • Work with a Local Agent: A reputable real estate agent can help you find properties that meet your criteria and negotiate the best deal.
  • Property Visits: If possible, visit the property in person or arrange a virtual tour.
  • Negotiate Terms: Your agent can help you negotiate the price and terms of the sale.
  • Sign a Purchase Agreement: This legally binding document outlines the terms of the sale, including the price, deposit, and closing date.
  • Property Inspection: Hire a professional to inspect the property for any issues.
  • Legal Checks: Ensure the property has a clear title and no outstanding debts or legal disputes.
  • Finalize Financing: If you’re taking out a mortgage, ensure all paperwork is in order.
  • Sign the Deed: The property is officially transferred to you once the deed is signed and registered.
  • Pay Closing Costs: These may include legal fees, taxes, and agent commissions.

Legal Requirements for Foreign Buyers

Ownership Restrictions
  • Some countries restrict foreign ownership of certain types of properties (e.g., agricultural land or properties near borders)
  • In others, foreign buyers may need to set up a local company to purchase property.
  • Work with a Local Agent: A reputable real estate agent can help you find properties that meet your criteria and negotiate the best deal.
  • Property Visits: If possible, visit the property in person or arrange a virtual tour.
  • Proof of Funds: You may need to show proof of funds or financing approval.
  • Hire a Local Lawyer: A lawyer specializing in real estate can help you navigate the legal process, review contracts, and ensure compliance with local laws.
  • Notary Public: In many countries, a notary public is required to witness and certify the signing of documents.

Key Considerations for Canadian Buyers

Tax Implications
  • Canadian Taxes: You may need to report foreign property ownership to the Canada Revenue Agency (CRA).
  • Local Taxes: Be aware of property taxes, capital gains taxes, and any other taxes in the country where you’re buying.
  • Currency Fluctuations: Exchange rates can impact the cost of your property and ongoing expenses.
  • Transferring Funds: Use a reputable currency exchange service to transfer funds internationally.
  • Residency Programs: Some countries offer residency or citizenship through real estate investment (e.g., Portugal’s Golden Visa).
  • Visa Requirements: If you plan to live in the property, research visa options and requirements.

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