[goatforce5]

re: setting up Canadian corporations with foreign money

> The release defines foreign corporations as companies "not incorporated in Canada or, incorporated in Canada, but controlled in whole or in part by a foreign national or other foreign corporation, unless the shares of the corporation are listed on a Canadian stock exchange."

It remains to be seen how much effort will go in to enforcement re: determining the ultimate ownership of companies investing in Vancouver real estate.

> According to a release, the government defines a foreign national as someone who is not a Canadian citizen or permanent resident, "including stateless persons."

Presumably your sister has permanent resident status and is exempt from the new tax because of that.

http://www.cbc.ca/news/canada/british-columbia/metro-vancouv...