Buying Property in GTA on Work Permit

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

Starting from January 1, 2023 Non-Canadians are  restricted from purchasing a residential property in Canada for a period of two years. The Act and Regulations provide some exceptions, including for Work Permit holders as under:

  • Temporary residents working in Canada, if they:
    • hold a valid work permit or are authorized to work in Canada
    • have worked full-time in Canada for at least 3 years within the 4 years preceding the year in which the purchase was made
    • have filed income tax returns for 3 of the 4 taxation years preceding the year in which the purchase was made
    • have not previously purchased a residential property in Canada while the prohibition is in effect

More details can be found here: The Prohibition on the Purchase of Residential Property by Non-Canadians Act

Buying Property in GTA on Work Permit

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 October 25, 2022, the NRST rate has been increased from 20% to 25% 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.

Almost every work permit holders who applies for a PR wants to know: 

Should we rent now & buy a property only after becoming a Permanent Resident?

This depends on your circumstances, personal needs and cash availability (as you will need not only the down payment but also 25% NRST amount up front).

You may also consider Rent to Own or Rent Now and Buy Later programs.

Book one of our free First Time Buyer online sessions to learn more.

First time buyer session

Simply call 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 Kalia will commence the home or condo viewing and the selection process will begin.

By far the most important factor is building your own real estate wealth. Our clients agree that in majority of cases, it makes prudent sense to buy vs. rent. However, we do understand that circumstances might compel you to rent initially, before you can 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.

Contact Team Kalia to Buy a Property if eligible on a Work Permit

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