Foreign Buyers Tax NRST


What is Non-resident speculation tax?

The full name of Overseas Buyer Tax is Non-Resident Speculation Tax, or NRST for short. The NRST applies to foreign buyers who purchase residential property in the Greater Golden Horseshoe Region (GGH) on or after 21 April 2017, a foreign buyers tax of 15%.

Eligible for the NRST refund are:

  • Obtain Canadian citizenship or permanent resident status within 4 years from the purchase of the house
  • International students continue to stay in Ontario after buying a houseTake full-time classes for two years
  • After buying a house, foreigners working in Ontario must hold a valid work permit and work full-time in Ontario for at least one year. Full-time means working no less than 30 hours per week, or a total of no less than 1,560 hours over a 12-month period
During the period from buying a house to applying for a refund, the buyer must absolutely hold the house or jointly hold it with the spouse. This property must be lived in by itself, and cannot be resold or rented out! After meeting the application conditions, it will be returned together with the principal and interest.


What is the Greater Golden Horseshoe Region (GGH)?


An urban area in southern Ontario. The GGH is made up of the following cities, counties and regional municipalities (some areas are listed below):
  • City of Toronto
  • City of Brantford
  • City of Guelph
  • City of Hamilton
  • Regional Municipality of Niagara
  • Regional Municipality of Waterloo


What kind of people need to pay the 15% Ontario Foreign Buyers Tax NRST?

  • Not a Canadian citizen;
  • Aliens without Canadian permanent residence;
  • Foreign companies;
  • Companies controlled by foreigners;
  • Canadian companies controlled by foreign companies;
  • The trustee of the trust is a foreigner;
  • The trustee of the trust is a Canadian citizen or permanent resident of Canada, but the beneficiary of the company is a foreign person.
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