Hello forum members,

I have a quick question. I am in Canada for last three and half years and I will be a Canadian citizen soon. I am basically from India. I own several properties I mean house, agriculture land on my name in India. My question, can I own the land and house after being a Canadian citizenship or I have to sell everything before I become a Canadian citizen?

Thanks in advance for all your help.

Regards
VP

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Ame amdavadi

hmmm. you should sell everything to steve harper

You can own properties anywhere even if you become Canadian Citizen.

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Originally posted by Desi # 1

You can own properties anywhere even if you become Canadian Citizen.

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India Canada Bhai-Bhai

If you own land or will be owning land (including agricultural) as part of inheritance or owned it before becoming a citizen, you can continue to own it.

You can not "buy" agricultural land after becoming Canadian citizen.

Just to add some information from TAX point of view as you mentioned that you own various properties in India and the cost of real estate and agriculture land is on the rise you should check this.

If you own property anywhere out side Canada valued over $100,000 you should be completing form T1135 (Foreign Income Verification Statement) along with your tax return. Here is the http://www.cra-arc.gc.ca/E/pbg/tf/t1135/t1135-99e.pdf

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

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Originally posted by Pramod Chopra




Just to add some information from TAX point of view as you mentioned that you own various properties in India and the cost of real estate and agriculture land is on the rise you should check this.

If you own property anywhere out side Canada valued over $100,000 you should be completing form T1135 (Foreign Income Verification Statement) along with your tax return. Here is the http://www.cra-arc.gc.ca/E/pbg/tf/t1135/t1135-99e.pdf

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