Buying Property in GTA on Work Permit

Can People on Work Permit Buy Property in Mississauga (Canada)?

Yes you can certainly buy a property on work permit after paying Foreign Buyers Tax or NRST. The Non-Resident Speculation Tax is currently a 15 per cent tax applied to the price of homes purchased in the Greater Golden Horseshoe Region by foreign nationals (individuals who are not citizens or permanent residents of Canada), foreign corporations or taxable trustees. Effective for binding agreements of purchase and sale entered on or after March 30, 2022, the tax will increase to 20 per cent and apply to homes purchased by foreign nationals, foreign corporations or taxable trustees anywhere in Ontario.

Buying Property in GTA on Work Permit – New to Canada Program

Buying Property in GTA on work permit is possible as part of New To Canada program for First Time Home Buyers at many Canadian banks and Lenders.  Given below are some current general guidelines for your reference. However, please note that guidelines are subject to change and revisions. It is prudent to discuss your situation and get advice directly from a mortgage specialist. We work with a few highly experienced and seasoned mortgage specialists and we will put you in touch with them at the time you are looking to buy a home or a condo.

As a work permit holder you will be required to pay Foreign Buyer Tax or Non-Resident Speculation Tax (NRST).

The Non‑Resident Speculation Tax (NRST) is a tax on the purchase or acquisition of an interest in residential property located in Ontario by individuals who are not citizens or permanent residents of Canada or by foreign corporations (foreign entities) and taxable trustees.

As of March 30, 2022, the NRST rate will be increased from 15% to 20% and will be expanded to all regions of the province.

The NRST applies in addition to the general Land Transfer Tax (LTT) in Ontario.


A rebate of the NRST may be available in the following situations:

  1. Foreign national who becomes a permanent resident of Canada – The foreign national becomes a permanent resident of Canada within four years of the date of the purchase or acquisition.
  2. Ontario Immigrant Nominee Program: Rebates remain available for foreign nationals who become permanent residents of Canada within four years after the tax became payable. Exemptions also remain available for nominees under the Ontario Immigrant Nominee Program, protected persons (refugees), and spouses of individuals not subject to the Non-Resident Speculation Tax, if eligibility criteria are met.

All binding agreements of purchase and sale entered into on or after March 30, 2022, rebates will no longer be available to international students and foreign nationals working in Ontario.

For Additional information about the Non-Resident Speculation Tax (NRST), contact:

Ministry of Finance
Land Tax Section
33 King Street West
Oshawa ON L1H 8H9

Toll free:1‑866‑668‑8297

Ontario Immigrant Nominee Program (OINP)

This is an opportunity where foreign workers, international students, business owners or entrepreneurs from outside of Canada can apply for permanent residence in Ontario, or where Ontario businesses can recruit international talent.

The Ontario Immigrant Nominee Program (OINP) is the province’s economic immigration program.

Foreign workers, international students and others with the right skills, experience and education apply to the OINP for a nomination. The OINP recognizes and nominates people for permanent residence who have the skills and experience the Ontario economy needs, and the Government of Canada makes the final decision to approve applications for permanent residence.

Why Rent When You Can buy?

We work with a lot of people who come to Mississauga and area on a work permit. We have helped many of them buy their first home in Mississauga and elsewhere in the GTA. There are many first time home buyer options available to you. Our clients agree that in majority of cases, it makes prudent sense to buy vs. rent.

Your Home Buying Steps

The process begins by calling us to book your complimentary First Time Home Buyer Session. This is to discuss your individual requirements on type of home or condo, proximity with schools, transit or your workplace, budget. We will introduce you to one of our mortgage specialists, who will apply for your conventional or insured mortgage approval, based on how much down payment you are putting in. Once you are approved by the lender, Team Amit Kalia will commence the home or condo viewing and the selection process will begin.

Here are answers to some questions that might be on your mind as a Newcomer or a First Time Buyer in Mississauga

What is Better – to Rent or Buy a Property after becoming a Permanent Resident?

With the price growth in our lower segment properties like condos, it may make sense to buy if you think your PR is going to take more than one year or so. The amount you will save by buying and not paying rent might justify buying over renting. We highly recommend buying vs. renting, as renting is simply throwing away money (or paying off someone else’s mortgage), which you will agree, mostly does not make prudent sense. We conduct First Time Buyer sessions for Permanent Residents of Canada looking to buy in 1-2 years of landing. This informative session will clear any questions or concerns that you may have about buying a home or a condo in Mississauga & area as a First Time Buyer.

By far the most important factor is building your own real estate wealth as soon as possible.

Remember – the amount that you pay as rent on a monthly basis can cover the cost of your own mortgage on your own home or condo, depending on the down payment that you are able to put in at the time of buying.

Second important consideration is that Real estate market is doing very well in Canada & some property types are still affordable.

However, we do understand that circumstances might compel you to rent initially, before you can buy. This is fine and we can help even in this scenario.

Team Kalia can help you with our unique Rent Now – Buy Later Program.

As part of this program we can assist you with finding a suitable property to rent for 1-2 years (max). Closer to the end of your lease term (or earlier depending on your readiness to purchase), we will start sending you for sale listings that closely match your needs. We will arrange for showings so that you can cherry pick the home or condo you would like to buy.

As a Buyer, when you Buy your home or condo with Team Kalia, you DO NOT pay us any fee or commission, as the Buyer Broker fee or commission is typically covered by the Seller in Canada.

  • Rent Now-Buy Later Program Benefits
  • Ideal for Newcomers, People on Work Permit, Millennial Home Buyers, First Time Home Buyers in Mississauga
  • Gives you peace of mind – helps you secure a unit for rent in a typically tight rental market
  • Gives you confidence – knowing that you will soon become a homeowner & contribute towards your own mortgage payment
  • Allows you time to save for a down payment towards your home purchase
  • Gives you time to figure out the best neighbourhood to buy in, based on your work, school & other criteria
  • Makes you an informed buyer as we will educate you about mortgage, resale vs. builder new options, first time buyer incentives & much more

Contact Team Amit Kalia to Buy a Home or a Condo on a Work Permit

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