non-residents: For decades, the province has had limits on property that can be purchased by non-residents, who require the approval of the provincial cabinet to buy more than five acres of property, or a property containing more than 165 feet of shoreline, according to CBC. Now the province has changed its definition of who qualifies as a resident. But the province real estate association says the changes are moving in the wrong direction. Instead of residing in the province for 183 days over the course of a year, residents must now live in the province for 365 days over 24 months. The changes, introduced in the spring sitting of the P.E.I. legislature, came into effect May 13, 2016. For the first time, the province has also stipulated that to be considered a resident under the Lands Protection Act a person must be either a Canadian citizen or a landed immigrant, regardless of how long they've lived in the province.
(www.immigrantscanada.com). As
reported in the news.
Tagged under non-residents, residents topics.
24.5.16