THE KEY FACTS ABOUT CANADA

At Life Style we strongly encourage you to know the full facts about the country that you are interested in, therefore please read this useful factsheet and the dynamics of Canada. 10 provinces and 3 territories*; Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories*, Nova Scotia, Nunavut*, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon Territory. After the break-up of the former Soviet Union, Canada is now officially the world’s largest country and getting from one end of the country to the other take days using any other means of transport than by air. In addition, the harsh Canadian winters in the north and the interior of the country make driving and other types of public transport difficult and uncomfortable. There are dozens of airports dotted throughout Canada’s 13 provinces, many of which have international access, and facilities are exceptional at the more established airports.

Expert Investment Rating.
	Rentability	Beautiful scenery & frendily people makes the rental market very good but seasonal.
	Capital Appreciation	5-10 year plan to maximise appreciation
	Long term rating	Excellent, airport links and accessible from most international airports

Canadian Map, National Flag and Typical Properties.

Useful Information:
Time Difference: -5 GMT	Currency: Canadian dollar
Flying Time: 8 1/2 Hours	Visa Required: Brits can stay 90 days
Major Airports: Toronto, Montréal, Vancouver	Work Visa Required: Yes
Dialing Code: 001	Electricity: 110V/60Hz

Canadian History

Canada is a country occupying the northern portion of North America, and is the world's second largest country in total area. Inhabited for at least ten millennia by aboriginal peoples, Canada was founded as a union of British colonies, some of which had earlier been French colonies. A federal dominion of ten provinces with three territories, Canada peacefully obtained its sovereignty in a process beginning in 1867 from its last colonial possessor, the United Kingdom. Today, Canada is governed as a parliamentary democracy and constitutional monarchy. Canada's head of state is its monarch, Her Majesty Queen Elizabeth II, who is represented in Canada by the Governor General. The head of government is the Prime Minister. The most recent federal general election was held on 23 January 2006. Canada defines itself as a bilingual and multicultural nation. Both English and French are official languages of the country. In the early 1970s, Canada began to adopt policies based on the concepts of cultural diversity and multiculturalism. Many Canadians now view this as one of the country's key attributes. A technologically advanced and industrialized nation, Canada is a net exporter of energy because of its large fossil fuel deposits, nuclear energy generation, and hydroelectric power capacity. Its diversified economy relies heavily on an abundance of natural resources and trade, particularly with the United States, with which Canada has had a long and complex relationship. A land of vast distances and rich natural resources, Canada became a self-governing dominion in 1867 while retaining ties to the British crown. Economically and technologically the nation has developed in parallel with the US, its neighbor to the south across an unfortified border. Canada faces the political challenges of meeting public demands for quality improvements in health care and education services, as well as responding to separatist concerns in predominantly francophone Quebec. Canada also aims to develop its diverse energy resources while maintaining its commitment to the environment.

Northern North America, bordering the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north, north of the conterminous US

Canadian Facts

Location: Northern North America, bordering the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north, north of the conterminous US
Land Area: total: 8,893 km border countries: US 8,893 km (includes 2,477 km with Alaska)
Coastline: 202,080 km
Capital City: Ottawa Largest City: Toronto
Climate: varies from temperate in south to subarctic and arctic in north
Terrain: mostly plains with mountains in west and lowlands in southeast
Environmental Issues to consider: air pollution and resulting acid rain severely affecting lakes and damaging forests; metal smelting, coal-burning utilities, and vehicle emissions impacting on agricultural and forest productivity; ocean waters becoming contaminated due to agricultural, industrial, mining, and forestry activities
Population: 33,390,141 (July 2007 est.)
Government Type: constitutional monarchy that is also a parliamentary democracy and a federation
Legal System: based on English common law, except in Quebec, where civil law system based on French law prevails; accepts compulsory ICJ jurisdiction, with reservations
GDP: $1.178 trillion (2006 est.) GDP Growth Rate 2.7% (2006 est.) GDP - per capita :$35,600 (2006 est.) Inflation Rate: 2% (2006 est.)

Economy - Overview

As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US. Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, although public debate continues over how to manage the rising cost of the publicly funded healthcare system. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs about 85% of Canadian exports. Canada is the US' largest foreign supplier of energy, including oil, gas, uranium, and electric power. Total tourism spending increased 5.5% for a total of $54.4 billion in the fourth quarter of 2006 compared to the same period in 2005. This growth was mainly led by a 7.6% increase in domestic spending, as non-resident visitor spending was down 1.0%. Fourth quarter growth was widespread across all tourism commodities with accommodation leading the way with a 7.4% increase, followed by transportation with a 6.1% gain. Total tourism spending registered a 29.7% increase in the fourth quarter of 2006 when compared to the same quarter of 2001

For the State of Florida the following facts apply:-

• International Trade - transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas
• Tourism - with 76.8 million visitors in 2004 (a record number),
• Export - motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum
• Agriculture – wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; forest products; fish
• Services - growth in high tech, financial & back office operations
• Software - many small, entrepreneurial companies.
• Health Technology (medical, biotech, laboratories)

Why Buy In Canada?

As winter approaches and thoughts turn to snow, Canada is a country that features high on the connoisseur’s list of favourite destinations. Largely rural, but also home to the big cities of Toronto and Montreal, the eastern (Maritime) provinces have an outdoors way of life and property prices that are considerably lower than Britain’s. A rural house with a lake or sea view can be picked up for as little as CAD$100,000 (£46,500) while around £135,000 will buy you a lakeside apartment at Le Grand Lodge, Mont Tremblant. Buying a property in Canada is a relatively straightforward process, but always ensure you appoint a lawyer to look after your interests. The amount of purchase tax and annual property taxes payable vary from state to state. Mike Coyle, sales director for Premier Resorts, explains what the legal process and purchase costs are associated with buying a property at Le Grand Lodge, Quebec.

• The reservation fee / deposit of £2,000 is payable upon execution of the reservation agreement; it becomes non-refundable upon an on-site visit or at signing (in which case it is applied to the purchase price). A 25% deposit is payable within 14 days of the return to the UK and is applied against the Purchase Price at closing. Thereafter there will be stage payments. The disbursement by the purchaser of the purchase price at closing generally will include any amount not covered by earlier deposit(s) or by the mortgage financing obtained. The balance of the purchase price is payable upon granting of the mortgage with a final time limit determined by how quickly the lender can act.
• “Non-residents may apply for a mortgage (subject to status) with Caisse Populaire Desjardins of Mont-Tremblant. “The Caisse Populaire policy for non-residents is that financing is available to the extent of 75% on the lesser of the purchase price or the certified evaluation (for Units up to $400,000); for Units having a purchase price exceeding $400,000, financing is available to the extent of 75% on the first $250,000 and 60% on the excess; for any financing above the 75% threshold, the Caisse Populaire requires first ranking security on assets in the Province of Quebec.”
• A ‘welcome tax’ is applied as follows. The land transfer duties are 0.5% on the first CAD$50,000 plus 1% on the additional amounts between CAD$50,001 and $250,000 plus 1.5% on the excess over CAD$250,000. Notarial fees generally vary between CAD$1,700 (purchase without mortgage and without proxy/power of attorney) to CAD$2,700 (purchase with a mortgage and power of attorney) and disbursements and miscellaneous fees are approximately CAD$1,200 to $1,300. “Additionally, a 7% Federal sales tax and 7.5% Quebec Provincial sales tax (applied to the subject amount together with the Federal Sales Tax) upon purchase of a unit are applied. However, the filing of prescribed election forms could eliminate requirement to pay sales tax. “Sales tax will be payable on the purchase of the furniture and fixtures. However, as mentioned above, an individual will be able to obtain a tax refund upon filing of prescribed sales tax returns. “It is recommended that you retain the services of a tax consultant as soon as a preliminary agreement is signed in order that the tax registrations are completed before the closing. The notary usually confirms the registration numbers with the specialist at the time of closing (thus avoiding payment of the taxes on the real estate portion of the purchase).”
• If you already own property in Florida equity release is available on a case by case basis.
• There are no life assurance requirements although it is highly recommended
• Maximum loan to value is 80%
• UK Pound, US Dollar & Multi Currency Mortgages available
• Borrowers with any missed credit or mortgage payment in the last 12 months will be declined, although with expert advice this can be overcome.
• Maximum term available is 40 years.
• Mortgage products are available on a repayment and interest only basis.
• Condo hotel finance and other similar types of project are considered on a case by case basis.
• Fixed rates are available for a maximum of 40 years (starting from 8% - 9%).
• Variable rates are often fixed initially (3 or 5 year periods) and then revised annually after that. Introductory rates start from 1.45% (with deferred interest) up to 8.125% for a more constant rate.
• Options are available to make early repayments without penalties.
• It is not a requirement for borrows to be UK home owners or UK residents.

Although all efforts have been made to ensure the accuracy of the information contained on this web site, the contents are believed to be correct, the accuracy cannot be guaranteed and none of the information contained herein will form any part of any contract. Prices are correct at the time of entry but are subject to change, every effort is made to update these as quickly as possible. Web site Designed and owned by Park lane Technologies Ltd © Copyright Park lane Technologies 1996-2007

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