>Many came to the answer "no", because foreign home ownership was in the 5-10% range depending on the neighbourhood.
How many foreigners are able to obfuscate "true" ownership is also a huge question.
How many foreigners are able to obfuscate "true" ownership is also a huge question.
For CA$200 you can set up your own Canada-resident corporation with obfuscated directorships:
The biggest residential purchase was splashed across the front page of the biggest newspaper as some great event yet it took them years to determine it was illegal and that was from a falling out between the owner and government.
If a $30 million luxury house in Sydney with national news coverage can't be exposed as being illegally bought, what fucking hope does any average property have? They basically catch no one for this stuff and if they do it's always due to some other crime instead.
UK/Canada/Australia/NZ are some of the biggest real estate money laundering destinations on Earth and all of their governments know it.
This was linked further down... a student owns 99% of a $31mm property. A Chinese business person owns the other 1%. That sounds like trying to get around KYC / AML requirements and obfuscating things to me...