An individual or legal entity not residing in the province of Quebec may usually purchase a property without restrictions in the province of Quebec. However, certain specific laws may require from a future Buyer, who does not reside in the province of Quebec, to obtain a special permission before purchasing, such as the authorization required from the Commission de protection du territoire agricole du Quebec for the acquisition of a property referred to in the Loi sur l’acquisition des terres agricoles par des non-résidents (RSQ, chapter A4.1).
Should you be considering purchasing a property situated in the province of Quebec consult the Notaries at DUPRE BEDARD JANELLE. They will inform you of the applicable laws and adequately advise you of the procedure to follow in order to complete your project.
In case you already owned a property and are considering selling it, the Notaries of DUPRE BEDARD JANELLE will assist you throughout the process of achieving your goal. Should you be a non-resident of Canada, and are selling your property, you will need to obtain a certificate for the sale of a Canadian property from the tax authorities of Canada and the province of Quebec. Should a non-resident fails to apply for receiving such certificates, the penalties may be significant.
In addition, if the tax on products and services (GST) and the Quebec sales tax (QST) are payable at closing of a real estate property by a non-resident, the Buyer must be extremely cautious because special rules are applicable in these cases.
Thus, should you be a non-resident of the province of Quebec or Canada, or if you are thinking of purchasing a property from a non-resident, the Notaries of DUPRE BEDARD JANELLE will advise you and by the same token, avoid you costly mistakes.