Residential real estate is a good investment and can produce long-term, stable revenue. It has to be bought wisely, and cared for, but provided it’s in a area in demand it will always be occupied.
Canada is a fantastic location for rental real estate. Canadian citizenship is not a requirement to own investment property in Canada. All you need to do to invest in income property in Canada is possess a passport or other proper ID, and be able to afford it.
But, if you’re not resident for income tax purposes, you will have to pay non-resident tax.
To begin with. “Canadian resident for income tax purposes” is a tax status, not your citizenship status. Someone who files a tax return on their income in Canada is likely a Canadian resident for income tax purposes. It’s possible for a person to live in another country and still be a resident of Canada for tax purposes. However, most off shore landlords in Canadian real estate remit personal income tax in their home country. That means that they are also non-residents according to the Canadian Revenue Agency (CRA), if they receive rental revenue from Canadian investment property.