Off to market to buy a fat piece of prime Alberta Land? If you’re a non-Canadian resident or citizen you may have to slow down before handing over money and acquaint yourself with Alberta’s Foreign Ownership of Land Regulations.
Foreign Ownership Restrictions of Alberta Farmland
Southern Alberta Land Broker – Mr. Shawn Hansen – of Hansen Land Brokers in High River successfully facilitates all manner of land transactions to ensure that all parties, both domestic and foreign, have a clear understanding of Alberta’s land restrictions. Presently Alberta legislation caps foreign ownership of agricultural land to no more than two parcels or a total of twenty acres. Though Alberta’s Foreign Ownership of Land Regulations does afford some exceptions surrounding the purchase of land by foreign non-residents and non-Canadian owned corporations for the purposes of pipelines, mines, processing plants, refineries and power plants – the purchase of controlled land is subject to strict regulations that are enforced by legislation.
Alberta Farmland – Still Valuable
Even with regulations and restrictions placed on the quantity of Alberta Farmland that can be purchased by foreign interest; this soil rich in minerals, moisture and history still continues to remain under the spotlight of investors from all corners of the globe. And it doesn’t take vast research and analytics to establish why farmland in Southern Alberta has managed to hold on to its reputation of being a hot commodity – the world’s population continues to expand while the availability of prime irrigated land diminishes.
Do Land Regulations Create a Win Win?
Does Alberta’s Foreign Ownership of Land Regulations stifle or enhance the procurement of Alberta Farmland? Based on the current value of Alberta land, crop prices and the ability for existing farmers to still compete with foreign dollars, the existing regulations appear to not be hampering the attraction or value of Southern Alberta Farmland. With stiff penalties for foreign investors who do not adhere to land regulations but try to circumvent restrictions, the stage is set for conscientious buyers to step up and enlist the expertise of experienced Alberta Land Brokers who can guide and provide accurate information of purchase limitations. Whether a buyer is a Canadian citizen, permanent resident or from foreign soil – having expert guidance to facilitate land sales and purchases ensures transactions are successful.