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Wouldn't the following still work?

Step 1: Create a Canadian company. Own 100% of its shares.

Step 2: Buy property in all-cash transactions.

Step 3: Enjoy ownership as a foreign buyer.

I don't know about this ban specifically, but most regulations these days are sophisticated enough not to be bypassed with a simple foreign-owned subsidiary. No doubt there will be ways to structure around the ban, but I would be surprised if such a simple structure were to work.

No, it won't. Foreign entity cannot have interest in Canadian homes. Owning the company that owns the home is having interest, thus is covered by the ban. This is explained in the link.

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