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The Regulations accomplish this intent by restricting the ownership of private land located outside of a city, town, village, or summer village (which the Act defines as controlled land) by foreign-controlled corporation and non-Canadian individuals, subject to certain exceptions and exemptions.9 P. M2 c* g. r9 O) U( m
) @# q0 R" h6 X8 `" H( BWhat Kinds of Interests in Land Are Restricted?
1 J9 t; y! [. Z+ x+ z1 i! AThe Regulations prohibit a foreign-controlled corporation or ineligible person from acquiring, directly or indirectly, an interest in controlled land which consists of more than two parcels, containing more than 20 acres in total. |
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