The minimum down payment for foreign investors buying property in Montreal is between 35% - 40% depending on the financial lender. Depending on your risk profile this can at times also be higher but will once again depend on the financial lender you choose to register a loan application with.
A foreign investor is classed as either of the following
- Anyone who is not a Canadian Citizen or Canadian Permanent Resident (PR).
- A Canadian Citizen who is not considered a tax resident (does not pay taxes in Canada) is also considered as a foreign investor and applicable to paying 35%+ in a down payment on a property.
If you are a Canadian Citizen living abroad and thinking about buying property in Montreal, it is suggested that you either consider this as part of your investment structure before leaving Canada or start paying taxes in Canada to be applicable for a smaller down payment. The latter of this is not always the correct as financial lenders can also look at your past residency and will asses your employment status in Canada.