Buying Real Estate in British Columbia as a Work Permit Holder

British Columbia continues to attract international professionals, and many individuals living in Canada on a work permit ask whether they can buy real estate while working here. In certain situations, work permit holders may be eligible to purchase property in BC, subject to federal regulations, provincial taxes, and lender requirements. Factors such as permit type, duration of residency, property use, financing eligibility, and applicable non-resident rules all play a role in determining available options. Anna Litvak Joseph provides experienced guidance to work permit holders navigating the BC real estate market, helping buyers understand their eligibility, explore ownership structures, and make informed decisions aligned with Canadian real estate laws and long-term planning goals.


Is It Possible for Work Permit Holders to Buy Property in BC?

In many cases, work permit holders may be eligible to purchase real estate in British Columbia, depending on factors such as the type and validity of their work permit, length of time residing in Canada, and compliance with current federal legislation governing non-resident property ownership. Additional considerations may include whether the property will be used as a principal residence, financing approval from Canadian lenders, and applicable taxes or exemptions. Because these rules can change and vary by individual circumstances, obtaining accurate, up-to-date guidance is essential before moving forward with a purchase.


BC Foreign Buyer Tax — What Is It?

The BC Foreign Buyer Tax is a provincial tax applied to certain residential property purchases made by foreign nationals, foreign corporations, or taxable trustees in designated areas of British Columbia. The tax is 20% of the property’s fair market value and is payable at the time of completion.

Designated areas where the tax applies include:

  • Metro Vancouver
  • Fraser Valley Regional District
  • Capital Regional District (Greater Victoria)
  • Nanaimo Regional District
  • Central Okanagan Regional District

Whether the Foreign Buyer Tax applies to work permit holders depends on individual circumstances, including residency status, length of time in Canada, and eligibility for specific exemptions or refunds. Because the financial impact can be significant, it is essential for work permit holders to understand how this tax may affect their purchase before proceeding.

Exemptions and Important Exceptions

In certain situations, buyers may be exempt from the BC Foreign Buyer Tax or eligible for a refund. Exemptions and relief may apply depending on immigration status, residency, and property location.

Key exemptions and considerations include:

  • Eligible work permit holders may qualify for an exemption or refund if they meet specific federal and provincial criteria (including length of residency and intent to remain in Canada)

  • Nominees under certain Provincial Nominee Programs (PNP) may be eligible for exemptions or refunds once conditions are met

  • Tsawwassen First Nation Lands (Tsawwassen) are exempt from the BC Foreign Buyer Tax, as these lands are governed under a different legal framework and are not subject to this provincial tax.

Because eligibility for exemptions can be highly specific and subject to change, work permit holders should obtain professional advice to fully understand how the Foreign Buyer Tax may apply to their situation before purchasing property in British Columbia.


FINANCING AND MORTGAGE OPTIONS FOR WORK PERMIT HOLDERS

Financing is a key consideration for work permit holders purchasing property in British Columbia. While some Canadian lenders offer mortgage options to eligible work permit holders, others may require higher down payments, established credit history, or additional documentation. Factors such as work permit type and duration, employment stability, credit profile, and mortgage terms can all impact eligibility. Because lending requirements vary by institution, obtaining mortgage pre-approval early in the process is strongly recommended.

TAXES AND ADDITIONAL COSTS TO CONSIDER

Work permit holders purchasing property in British Columbia may be subject to additional taxes and fees beyond standard closing costs. These may include:

  • Property Transfer Tax (PTT)
  • Potential exemptions or rebates (depending on eligibility)
  • Speculation and Vacancy Tax
  • Other non-resident or provincial tax considerations

Tax obligations depend on residency status, intended use of the property, and length of stay in Canada. Proper tax planning can help buyers understand their full financial commitment and avoid unexpected costs.

Buying Process in British Columbia

The home-buying process in BC generally follows a structured sequence:

  • Determining eligibility and financing options
  • Mortgage pre-approval
  • Property search and offer preparation
  • Subject removal (due diligence period)
  • Legal completion and possession

For work permit holders, additional steps may be required to confirm compliance with ownership rules and lender requirements. Clear timelines and proactive planning are especially important.

Contact Today

READY TO EXPLORE YOUR OPTIONS?

If you are living and working in Canada on a work permit and considering buying property in British Columbia, professional advice can make all the difference. Reach out to discuss your situation, review eligibility, and plan your next steps with clarity.

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