Frequently Asked Questions
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Why Canada is the best place to invest in overseas properties?
Canada is one of the seven industrialized countries in the world. It has been rated as "the most livable country in the world" by the United Nations. Canada's political integrity, social stability, the rule of law sound, happy life, peace and friendship in the world image, investment security. Alimama expert group that can be considered from the following five perspectives:
1, value-added investment: Canadian sparsely populated, housing prices are generally not high. In Toronto, for example, Toronto is Canada's economic and cultural center, but also North America's important financial district, attracting a large number of immigrants each year, creating a large number of jobs. But the price compared to New York, London and other cities was significantly lower, the future up huge space. In addition, Canada does not exist for the number of purchase restrictions.
2, the living environment: Canada's beautiful scenery, sparsely populated, rich in natural resources, even in the city center can be seen everywhere wild geese and small animals come and go, the United Nations as "the world's most livable country", even if the population density Relatively high in downtown Toronto, the air is fresh and natural, is the real natural oxygen bar.
3, the educational environment: Canada's high level of education, the implementation of universal free education, school education to stimulate students' interest and creativity-oriented, focus on practical ability. At the same time the level of university education is also high, the University of Toronto, McGill University, Queen's University, Columbia University, University of Western Ontario, University of Waterloo are world famous universities. Canadian university degrees are widely recognized by governments around the world. In addition, Alimama can provide different types of district housing from primary school to university, depending on the investor's requirements.
4, the social environment. Canada has a social system for the welfare of the whole people, and the government provides welfare protection from birth to grave. So people's living standards, high quality of population, social stability, crime is very low.
5, the cultural atmosphere. Canada is the immigration of countries, countries, cultural convergence and collision, and ultimately the formation of Canada's own national culture. In Toronto, for example, every year a number of cultural activities, almost all the world's cultural elements. At the same time museums, libraries, theaters and other places, people can feel the charm of different cultures anytime, anywhere.
I am very interested in buying Canadian properties. But I am not a Canadian resident; can I buy a house in Canada?
Under Canadian federal law, non-Canadians are able to acquire, own and sell properties that comply with the same rules and conditions as those of Canadian residents or citizens.
I do not have enough cash to buy a house, and then I can loan to buy a house? Is Canada’s interest rate high?
Non-Canadian residents can also take a loan to buy a house, the minimum down payment ratio of 35% of the principal (Canada, the average local residents of 20%). Canada to implement a low interest rate policy, the implementation of 1% of the benchmark interest rate plus or minus floating interest rate policy, according to investors choose different ways of lending, specific interest rates slightly different. At present the actual loan interest rate of 3%. Alimama will have one-on-one assistance to investors, through Alimama's official partner banks to carry out lending business.
My money is in mainland China. If I decide to buy a house in Canada, how can I pay back the principal?
At present, many banks in Canada are in the country with business institutions, investors can directly in the Canadian banks in the domestic network to open overseas accounts in the territory of the funds directly to Canada. Alimama will also have one-on-one assistance to investors, through Alimama's official partner banks to exchange remittance business.
What do I need to complete when I invest in Canadian property? Will be a lot of trouble?
Foreigners in Canada to buy a house and did not imagine so complex, and the domestic purchase of the program is basically the same: showings contract? Pay taxes and down payment? Banks for loans. Alimama experts pointed out that in practice, due to limited time for short-term visas, foreign buyers can not wait until the delivery must leave, which involves the power of attorney (Power of Attorney, referred to as POA) problem. Buyers can only commission in addition to their own real estate broker or lawyer outside the person as their full authority in Canada to buy a house, the exercise of the right to sign. However, even if the power of attorney is not a problem, the bank may not be accepted. Because there are more than 90% of the deeds of deeds are related to the power of attorney, so banks are very sensitive. For example, TD Bank and the Royal Bank on the provisions of the housing loan official documents must be signed by the buyer himself. In the current situation in Toronto, in the Closing signature, the lawyer can generally accept the POA's signature by the client, while most banks are not accepted. Unless the bank to the buyer I have a certain degree of understanding. So here to remind buyers to leave Canada, be sure to ask the loan bank to ask, whether to accept the POA. Otherwise, it is not a ticket issue. But in some cases, banks may require investors to provide guarantees.
Why is it important for lawyers to assist me in buying Canadian properties?
Lawyers in the purchase of real estate in the role of very large, it can be said to be essential. In the process of buying a home, the lawyer can find problems in the contract provided by the developer, saving the buyer time, money, energy, and more risk aversion. Alimama specialists point out that good lawyers can help investors efficiently complete the following three important steps:
1, review all the purchase of documents to ensure that the wording of the document legal, fair, and better protect the rights of the purchaser;
2, property rights inquiries, to ensure the legitimacy of the purchase of housing; The registration of official documents to complete the settlement of accounts of the parties, the accuracy of the final settlement.
I want to invest in Canadian propertied, do I need pay extra taxes?
When buying a Canadian property, the non-Canadian and Canadian residents have the same tax at the time of purchase, for example, a property tax of about 0.8% of the property per year, but non-residents and residents are taxed differently when selling real estate. Residents in the sale of the need to pay capital gains tax, the equivalent of domestic sellers need to pay personal income tax.