Buying a home on the North Shore when you are new to Canada
Checked 6 October 2026 · next review December 2026Whether you can buy, and what it costs, depends on your status on the day the transfer is registered. A permanent resident is not covered by the federal ban on purchases by non-Canadians and does not pay BC’s 20% additional transfer tax. A work-permit holder can buy only if a federal exception applies, and then pays the 20% additional tax as a foreign national unless a BC Provincial Nominee exemption applies. On a $1,000,000 home that is $218,000 in transfer tax instead of $18,000. The federal ban on most purchases by non-Canadians is set to end on 1 January 2027, so check the government page before you plan around it.
These rules change, and some are changing within months. Everything below is subject to change. Confirm your own status and the tax with the Province and with your lawyer or notary before you write an offer.
| Province of BC, property transfer tax | 1-888-841-0090 · 236-478-1593 · PTTENQ@gov.bc.ca |
| Province of BC, additional property transfer tax | 1-888-841-0090 · 236-478-1593 · ATTENQ@gov.bc.ca |
- Permanent residents are not covered by the federal ban and are not foreign nationals for BC’s additional transfer tax.
- Work-permit holders and students are covered by the federal ban unless they meet a specific exception, and the government page sets out the conditions. Visitors have no exception of their own.
- The federal ban was extended to 1 January 2027. It is set to end on 1 January 2027. The government’s own pages show that date; confirm it has not changed before you rely on it.
- BC’s additional property transfer tax is 20% of the fair market value for a foreign national buying in Metro Vancouver, which includes the City and District of North Vancouver and West Vancouver. It is paid on top of the regular transfer tax.
- The first-time buyer exemption needs Canadian citizenship or permanent residence and a year living in BC, or two BC tax returns in the last six years.
If you are moving from Iran, there is a separate page on that move: Moving from Tehran to North Vancouver. This page covers the rules that apply to every newcomer.
Which situation are you in
The answer turns on your status on the day the transfer is registered, not the day you write the offer. This table puts the government rules side by side. The exceptions have conditions, which are set out further down.
| Permanent resident | Work permit holder | Student | Visitor | |
|---|---|---|---|---|
| Federal ban on buying | Does not apply | Applies unless your work permit has 183 days or more left and you have not bought during the ban | Applies unless you meet all five student conditions, including a price of $500,000 or less | Applies, unless another exception fits you, such as buying with a spouse who is a citizen or permanent resident |
| BC 20% additional transfer tax | Does not apply | Applies, unless you are a confirmed BC Provincial Nominee buying your principal residence | Applies, with the same nominee exemption | Applies |
| BC first-time buyer exemption | Can apply, if the other conditions are met | Not available at registration; a refund is possible if you become a permanent resident within a year | Same as a work permit holder | Same as a work permit holder |
| Speculation and vacancy tax rate for 2026, if you owe it | 1% | 3% as a foreign owner | 3% as a foreign owner | 3% as a foreign owner |
| CMHC-insured mortgage | Available, with no minimum time in Canada | Only if you are legally authorized to work in Canada and the purchase does not break the federal ban | Only if you are legally authorized to work in Canada and the purchase does not break the federal ban | Not covered by CMHC’s newcomer rules |
Built from the CMHC, Province of BC and CMHC newcomer pages listed under Sources. Refugees, protected persons and some others have their own exceptions to the federal ban. Whether any of this fits you is a question for your lawyer.
The federal ban on purchases by non-Canadians
The Prohibition on the Purchase of Residential Property by Non-Canadians Act has been in force since 1 January 2023. It applies to people who are not Canadian citizens or permanent residents, and to privately held corporations controlled by non-Canadians. On 4 February 2024 the Department of Finance announced it would be extended from 1 January 2025 to 1 January 2027. As of 6 October 2026, we found no newer federal announcement changing that date, so it is set to end on 1 January 2027. Confirm it on the CMHC or Department of Finance page before you rely on it.
CMHC says the Act covers buildings with up to three dwelling units in census metropolitan areas and census agglomerations, and does not apply to vacant land or to property outside those areas. A breach can bring a fine of up to $10,000, and a court can order the property sold.
| Your status | What the government page says |
|---|---|
| Canadian citizen | Not covered by the ban |
| Permanent resident | Not covered by the ban |
| Temporary resident working in Canada | Excepted if you hold a valid work permit with 183 days or more of validity remaining, and you have not already bought a residential property during the prohibition |
| Temporary resident studying in Canada | Excepted only if you are enrolled at a designated learning institution, have filed income tax returns for each of the five preceding years, were physically present in Canada for at least 244 days in each of those five years, have not already bought a residential property, and the price is $500,000 or less |
| Refugee or protected person | Excepted, as are refugee claimants with eligible claims |
| Spouse or common-law partner of a citizen or permanent resident | Excepted when buying together with an eligible partner |
| Visitor with no other exception | Not excepted |
This is a summary of CMHC’s description of the Act and its regulations, not legal advice. Whether an exception fits you is a question for your lawyer, before you write an offer.
BC’s additional property transfer tax
On top of the regular transfer tax, a foreign national, foreign corporation or taxable trustee pays an additional 20% of the fair market value of their share of a residential property in specified areas of BC. Metro Vancouver is one of them, and the Province lists the City of North Vancouver, the District of North Vancouver and West Vancouver in it.
The Province defines a foreign national as a person who is not a Canadian citizen or permanent resident of Canada, including a stateless person. A work-permit holder who can buy under a federal exception is still a foreign national for this tax.
What the transfer tax adds up to
Here is the transfer tax on three prices for one buyer taking the whole home, with no exemption. The regular tax is 1% on the first $200,000, 2% up to $2,000,000 and 3% above that. The additional tax is 20% of the fair market value.
| Price | Regular tax: how it is worked out | Permanent resident pays | Additional 20% tax | Foreign national pays |
|---|---|---|---|---|
| $1,000,000 | $2,000 + 2% of $800,000 ($16,000) | $18,000 | $200,000 | $218,000 |
| $1,500,000 | $2,000 + 2% of $1,300,000 ($26,000) | $28,000 | $300,000 | $328,000 |
| $2,500,000 | $2,000 + $36,000 + 3% of $500,000 ($15,000) | $53,000 | $500,000 | $553,000 |
Assumes the whole property is residential and the price is the fair market value. None of these prices qualifies for the first-time buyer exemption. A foreign national who buys a share pays the 20% on the fair market value of that share. Your lawyer or notary confirms the exact figure.
If you become a permanent resident within a year
The Province offers a refund if you become a permanent resident or citizen within one year of registration, moved in within 92 days, lived in the home as your principal residence for at least a full year, and did not receive the Provincial Nominee exemption. You apply after the first anniversary of moving in and before 18 months from registration.
The Province’s warning
The Province says foreign nationals who buy expecting a refund take on a significant risk, because there is no guarantee permanent residence will be completed within 12 months.
BC Provincial Nominees
A foreign national who is a confirmed BC Provincial Nominee when the transfer is registered can be exempt, if the home is their principal residence and the transfer is to an individual. Family members, including a spouse or common-law partner, are not exempt, and pay the additional tax on their share if they are foreign nationals.
When it is paid
With the regular transfer tax, when the transfer is registered at the Land Title Office. You or your lawyer or notary file the property transfer tax return.
The regular property transfer tax
Every buyer pays it unless an exemption applies, on the fair market value on the day the transfer is registered: 1% on the first $200,000, 2% up to $2,000,000, 3% above that, and a further 2% on residential value above $3,000,000. See what it costs to buy in North Vancouver for worked examples.
The first-time buyer exemption
On the date the home is registered you must be a Canadian citizen or permanent resident, and either have lived in BC for at least a year immediately before that date or have filed at least two income tax returns as a BC resident in the last six taxation years. You must never have owned a principal residence anywhere in the world, and never have received this exemption before. The home must be your principal residence, 0.5 hectares or smaller, and worth $835,000 or less for the full exemption on the first $500,000, with a partial exemption below $860,000.
The Province says that if you were not eligible at registration but become a permanent resident on or before the first anniversary of the registration date, you may apply for a refund.
Speculation and vacancy tax
The City of North Vancouver, the District of North Vancouver and the District of West Vancouver are all taxable areas. In most cases every owner of residential property there must complete a declaration each year, due on 31 March. The tax is a percentage of the assessed value, and it depends on who you are:
| Tax year | Foreign owners and untaxed worldwide earners | Canadian citizens and permanent residents who are not untaxed worldwide earners |
|---|---|---|
| 2026 | 3% | 1% |
| 2027 onward | 4% | 1% |
The Province defines a foreign owner as a person who is not a Canadian citizen or permanent resident. An untaxed worldwide earner is someone whose unreported income in Canada is greater than their reported total income in Canada. Principal residences can be exempt, and the declaration is how the Province checks whether you qualify.
Proving who you are
FINTRAC requires a realtor to verify a client’s identity when acting in the purchase or sale of real estate, and to keep a record of your name, address, date of birth and occupation. FINTRAC asks for occupations to be described in detail, such as retail clothing store manager rather than manager. Have your passport and your immigration document ready.
Your mortgage and down payment
The Government of Canada’s minimum down payment is 5% on a home of $500,000 or less; 5% of the first $500,000 and 10% of the rest up to $1.5 million; and 20% at $1.5 million or more. It says the minimum down payment normally has to come from your own funds, and below 20% you will typically need mortgage loan insurance. CMHC insures homeowner loans only where the price is below $1,500,000.
CMHC also describes mortgage insurance for newcomers. It says no minimum period of residency is required for permanent residents, that non-permanent residents must be legally authorized to work in Canada and the purchase must not break the federal ban, and that a borrower without Canadian credit history may provide an international credit report or a reference letter from their bank in their home country. CMHC notes this is subject to change; ask your mortgage professional what applies to you.
Before you start looking
- Write down your exact status and the expiry date on your permit, and check it against the federal exceptions above.
- Check whether you are a confirmed BC Provincial Nominee, and keep the document.
- Ask a lawyer or notary whether you can buy, and whether the 20% additional tax applies, before you write an offer.
- If you expect permanent residence soon, ask your lawyer how the date of registration affects the ban, the 20% tax and the first-time buyer exemption.
- Budget the transfer tax at your price as a permanent resident and as a foreign national, using the table above.
- Get a mortgage pre-approval that takes your status and credit history into account; bring an international credit report or a reference letter from your bank at home if you have little Canadian credit.
- Have your passport, immigration document and proof of your down payment funds ready.
- Put the speculation and vacancy tax declaration, due 31 March each year, in your calendar.
This page says what the government pages say, not legal or tax advice for your purchase. These rules change, and the federal ban is due to end or change on 1 January 2027. Confirm your status and the tax with your lawyer or notary, and check the government pages listed below, before you write an offer. The Province answers transfer tax questions on 1-888-841-0090.
- CMHC, Prohibition on the Purchase of Residential Property by Non-Canadians Act. Checked 6 October 2026.
- Department of Finance Canada, Government announces two-year extension to ban on foreign ownership of Canadian housing. Checked 6 October 2026.
- Justice Laws, Prohibition on the Purchase of Residential Property by Non-Canadians Act. Checked 6 October 2026.
- Province of British Columbia, Additional property transfer tax. Checked 6 October 2026.
- Province of British Columbia, Additional property transfer tax areas. Checked 6 October 2026.
- Province of British Columbia, Refunds for the additional property transfer tax. Checked 6 October 2026.
- Province of British Columbia, Glossary for property taxes. Checked 6 October 2026.
- Province of British Columbia, Property transfer tax. Checked 6 October 2026.
- Province of British Columbia, First time home buyers’ exemption. Checked 6 October 2026.
- Province of British Columbia, Speculation and vacancy tax taxable areas. Checked 6 October 2026.
- Province of British Columbia, Speculation and vacancy tax rates. Checked 6 October 2026.
- Province of British Columbia, Speculation and vacancy tax terms and definitions. Checked 6 October 2026.
- Province of British Columbia, How the speculation and vacancy tax works. Checked 6 October 2026.
- FINTRAC, When to verify the identity of persons and entities: real estate. Checked 6 October 2026.
- FINTRAC, Record keeping requirements for real estate brokers or sales representatives. Checked 6 October 2026.
- Financial Consumer Agency of Canada, Down payment. Checked 6 October 2026.
- CMHC, General requirements for homeowner mortgage loan insurance. Checked 6 October 2026.
- CMHC, Mortgage financing options for new residents. Checked 6 October 2026.