Client Question: Can a foreign corporation purchase a condo in Victoria without any hassles?
Answer: A foreign corporation can purchase real estate without registration provided it is not “carrying on business” in B.C. If it is a pure holding company without business activity, that meets the criteria. When the company commences “carrying on business”, it must register. Owning two properties can be considered carrying on business.
When acquiring the property, confirmation of legal identity is required through certified copies of charter documents.
--Pat Trelawny, managing partner of Jones, Emery, Hargreaves, Swan
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