How We Are Working to Insulate RMCs from the Canadian Ban on Home Purchases

Learn more during our Public Policy Forums at GWS2022.

In case you missed it, we recently alerted our members about a two-year moratorium Canada has enacted on home purchases by foreign buyers. The Purchase of Residential Property by Non-Canadians Act prohibits non-Canadians from purchasing, directly or indirectly, any residential property in Canada for two years, starting 1 January 2023.

Although there is an exception for persons on work visas, there is no such exemption for foreign-owned relocation management companies (RMCs) even if they have an office in Canada. Because this legislation would impact their ability to offer some traditional services when relocating employees across the border and even within Canada, we are supporting efforts led by the Canadian Employee Relocation Council (CERC) to obtain exemptions for RMCs not headquartered in Canada, as well as to ensure all temporary foreign workers are included in the implementing regulations.

Teaming up with our Canadian counterparts to insulate RMCs from unintended consequences of a public policy meant to address the rising cost of living in Canada is just the latest example of how we work with partners around the world to advocate for public policies that support the global mobility industry.

I encourage you to get involved with our advocacy efforts by joining a Public Policy Forum, which provide a place where workforce mobility professionals come together to identify and find solutions to the legal and regulatory hurdles confronting our industry. Our policy forums work directly with policymakers and in partnership with other industry associations to shape public policies. Membership in the forums is open to all Worldwide ERC^® members. Worldwide ERC Government Affairs Advisor Tristan North can sign you up and tell you more.

You can also attend a Public Policy Forum meeting during GWS2022. Our Real Estate Public Policy Forum will specifically address this new Canada law as well as the SECURE Notarization Act, which would establish standards for e-notarization and recognize its interstate usage; wire fraud prevention; and state and local ordinances, among other issues.

We need to team up to advocate for effective public policies. GWS2022 in Las Vegas from 25-28 October is the place to get our Game On and do just that. I hope to see you there!