Canada

Richard Silver - Canada

by: Richard Silver author of http://www.Torontoism.com

Canada is a huge source of natural resources, however most of the population lives close to the 49th parallel.    There is a great migration to Canada because of its stability and social programs such as Nationalized Health Care.

Taxes in Canada appear to be higher than the United States however, Health Care is included. All large financial transactions are monitored and funds have to be identified as being legal. Foreigners can own properties her however on sale of these properties there is a withholding tax until filings occur.

Canada is known as being politically stable and financially conservative. Financing is available but Banks restrict the amount of Gross Debt Service. Also, Interest charges for financing are not deductible from taxes but Capital gains on primary residences are not charged.

The country’s infrastructure is excellent compared to most countries in the world….Great for business or residential uses.

Richard Silver

Real estate specific factors

Title Insurance is available, as is financing and all option that are presently available in the US model. There is a National Real Estate Organization and each Province is separately monitored by Provincial regulators and regulations as well as a Country wide Code-of-Ethics.    In the service based cities there is lots of resale and new build activity but much less so in the Manufacturing Centres.

Canada is very diverse with a lot of immigration from China, India and the Caribbean Islands.    Canada is the greatest Country in the World. It is peaceful, generally safe and stable, however one must be ready for serious Winter weather.