In 2016, the B.C. Government just introduced legislation to apply a 15% foreign home buyer tax for residential properties in many areas of Greater Vancouver.

But in 2018, the B.C. Government increased the Foreign Buyer Tax 5% to 20% and expanded the areas it applies:

Capital Regional District, Fraser Valley Regional District, Greater Vancouver Regional District, Regional District of Central Okanagan, and Regional District of Nanaimo.

The tax will apply to foreign nationals, foreign corporations, or taxable trustees typically purchasing residential properties, but we recommend obtaining a legal and tax opinion from professionals to determine if this may apply to you. This tax will be in addition to the existing Property Transfer Tax.

View Foreign Buyer Tax details on the BC Government's Site