There is no restriction in Alberta respecting people from other countries buying property in Alberta EXCEPT FOR the local areas of Deadman’s Flats, Harvie Heights and Exshaw. In these areas, you must be a resident of Canada.
There is no issue when buying in Canmore or Banff. If you are a Non Resident Buyer AND you are deriving revenues from the property, then you will have annual reporting requirements to the Canada Revenue Agency.
If you are planning on buying property in Deadman’s Flats, Exshaw or Harvie Heights, you must be a resident of Canada. There are ways to obtain an exemption to this.
Click Here to read more about these issues.
When purchasing in these areas, we must comply with the Land Title Office requirements, which usually means completing a Form 1 Statutory Declaration. Click Here to review the Land Title Office requirements respecting complying with these issues.
We recommend you contact a Canadian Accountant to provide you with advice on your obligations. If you require further information, please contact Stewart Law Group. .