Non-Resident Real Estate Investment
From single properties to large-scale investments, Miller Bernstein provides focused Canadian real estate advice for non-residents who wish to purchase or sell Canadian real estate.
Our team works with and advises on cross-border real estate structures. We can assist with navigating through the legal and tax implications of owning real estate, whether through joint ventures/co-ownerships, partnerships, corporations, personally or via trusts. We understand that certain legal entities may be characterized differently by Canada Revenue Agency than in the country of origin which may impact the cross-border aggregate income tax result.
We provide non-residents with Canadian income tax expertise and assist with Canadian income and sales tax compliance obligations if applicable, including obtaining a business number with Canada Revenue Agency, preparing elective rental income tax returns, filing of elections to reduce withholding tax, reporting obligations and preparation of appropriate income tax or sales tax returns.
We also regularly assist non-residents with respect to fulfilling Canadian compliance obligations for sales of Canadian real property and section 116 clearance certificate applications with Canada Revenue Agency.