NON-RESIDENT SELLERS
Non-Resident Sellers
A sale involving a seller outside Canada may require additional legal and tax coordination. Early preparation helps identify the relevant requirements.
Share your circumstances
Tell us about residency, ownership, signing location, and the proposed closing date. Provide the agreement and the contact details of your tax adviser where applicable.
Coordinate professional advice
The treatment of a transaction depends on the facts. We coordinate the legal closing requirements within our scope and identify where tax or accounting advice is needed.
Tax residency and Canadian property
Living abroad and being non-resident for Canadian tax purposes are not necessarily the same. Provide the relevant facts and involve your tax advisor when planning a sale.
Compliance and withholding
A disposition by a non-resident can engage Canadian tax notification, certificate, and withholding requirements. The applicable treatment depends on the property and circumstances; it should be addressed before the expected proceeds are committed elsewhere.
Coordinate legal and tax work
We review the sale documents and discuss closing arrangements alongside the information required from your tax professional. A pending certificate or unresolved compliance issue can affect the treatment of funds.
Send the supporting records
Provide the agreement, ownership and acquisition information, tax advisor’s details, and relevant correspondence. Identify the expected closing date and whether any application is already underway.
Signing abroad and receiving proceeds
Identification, document execution, time zones, and banking arrangements should be planned well in advance. Requirements depend on the documents and parties involved.
Verify funds instructions
Discuss the permitted distribution and any required holdback with our office. Confirm account instructions through a trusted communication channel and arrange currency conversion with the relevant financial provider.
Coordinate the overseas seller’s records
The legal closing and tax-compliance process should be planned together. Let us know what work your tax professional has already undertaken and which documents remain outstanding. We discuss closing instructions and any funds arrangements without assuming that a tax certificate or exemption will be available.
Documents to prepare
- Agreement and relevant acquisition information
- Tax-advisor details and certificate correspondence
- Identification and proposed signing arrangements
- Banking and proceeds-distribution requirements
Let’s discuss your next step
Contact Maki Law for practical guidance on your property transaction or construction matter.
416-991-4775 · contact@maki.law
136A Avenue Rd, Toronto, Ontario M5R 2H6
MAKI LAW
Address
136A Avenue Rd
Toronto, Ontario M5R 2H6
Contact
416-991-4775
Fax: 416-981-3420
contact@maki.law
Service Areas
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General information only. Contact our office for advice about your circumstances.