Comments on: Are Smurfs and Canadian Banks Ruining The Canadian Real Estate Market? https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/ Canada’s Fastest Growing Real Estate News Source Sun, 03 Jun 2018 22:06:16 +0000 hourly 1 By: Divyesh Mahajan https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-29008 Sun, 03 Jun 2018 22:06:16 +0000 https://betterdwelling.com/?p=3757#comment-29008 Assalam-o-Aleikum

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]]> By: There’s A S**t Ton of Canadian Real Estate Owned By “Corrupt African Leaders” | Better Dwelling https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-10672 Thu, 08 Mar 2018 13:20:21 +0000 https://betterdwelling.com/?p=3757#comment-10672 […] corrupt Chinese officials.” Canada is easy to immigrate to, and up until recently banks would even knowingly help you circumvent your country’s capital controls. The only catch is you need a good reason, like buying a home. It shouldn’t be a big surprise to […]

]]> By: Vancouver’s Real Estate Market could Crash Thanks to China | Daily Adviser https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-10412 Thu, 01 Mar 2018 22:33:28 +0000 https://betterdwelling.com/?p=3757#comment-10412 […] Smurfing is a controversial process where a large amount of money is wired in small sums. These sums are designed to be small enough to avoid the scrutiny of financial regulators. People get family, friends, strangers for a fee, underground banks, etc. to transfer the money to separate bank accounts abroad. Those separate bank accounts are then assembled into a downpayment. The process repeats until you run out of money or the house is yours. It’s a soft-form of money laundering, but the money isn’t necessarily ill-gotten. Since there’s nothing to demonstrate the money is from the proceeds of crime, the Canadian government is more than happy to have the money flow in to Canada. […]

]]> By: CIBC出细则：外国买家贷款容易的日子一去不返 https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-10039 Wed, 21 Feb 2018 21:33:12 +0000 https://betterdwelling.com/?p=3757#comment-10039 […] CIBC是一家以积极吸引外国买家而闻名的银行，现在也是第一家推出国外收入审核制度的银行。与他银行极有可能跟进效仿，外国资金面临在银行贷款购房的新障碍。OSFI B-20规定外加中国资本管制，两者加起来可能比非居民炒房税更有效。 […]

]]> By: CIBC Kills Foreign Income Program, Makes Buying Canadian Real Estate Harder | Better Dwelling https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-9764 Thu, 15 Feb 2018 12:38:27 +0000 https://betterdwelling.com/?p=3757#comment-9764 […] a bank known for aggressively pursuing foreign buyers, is the first bank to roll out new foreign income checks. With other banks likely to follow, […]

]]> By: More Young Foreign Buyers Are Taking Out Mortgages For Canadian Real Estate… Kind Of | Better Dwelling https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-9398 Wed, 07 Feb 2018 13:55:49 +0000 https://betterdwelling.com/?p=3757#comment-9398 […] done a whole write up on how smurfing works, but the gist is you borrow other people’s capital allowance. This increases your US$50,000 […]

]]> By: China’s Capital Outflows Just Reversed, Bad News For Global Real Estate | Better Dwelling https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-4457 Fri, 30 Jun 2017 14:41:19 +0000 https://betterdwelling.com/?p=3757#comment-4457 […] We’ve talked about China’s capital controls quite a few times, but in case you missed it here’s a brief intro. Chinese citizens are limited to exporting US$50,000 per person, per year. Not even enough to make a down payment on a house in Vancouver. So friends, family, strangers for money would lend their quotas to other people, so they could do a form of “soft” money laundering called smurfing. […]

]]> By: 12 | legalhoneyette https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-3714 Tue, 16 May 2017 16:45:26 +0000 https://betterdwelling.com/?p=3757#comment-3714 […] Are Smurfs and Canadian Banks Ruining The Canadian Real Estate Market? => https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/ […]

]]> By: Vancouver's actual property market may crash due to China – Social Marketing Game https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-2243 Thu, 02 Feb 2017 04:31:46 +0000 https://betterdwelling.com/?p=3757#comment-2243 […] Smurfing is a controversial process where a large amount of money is wired in small sums. These sums are designed to be sufficiently small to keep away from the scrutiny of economic regulators. Folks get household, associates, strangers for a price, underground banks, and many others. to switch the cash to separate financial institution accounts overseas. These separate financial institution accounts are then assembled right into a downpayment. The method repeats till you run out of cash or the home is yours. It’s a soft-form of cash laundering, however the cash isn’t essentially ill-gotten. Since there’s nothing to reveal the cash is from the proceeds of crime, the Canadian authorities is more than pleased to have the cash movement in to Canada. […]

]]> By: Vancouver's real estate market could crash thanks to China https://betterdwelling.com/are-smurfs-and-canadian-banks-ruining-the-canadian-real-estate-market/#comment-2237 Thu, 02 Feb 2017 02:40:28 +0000 https://betterdwelling.com/?p=3757#comment-2237 […] Smurfing is a controversial process where a large amount of money is wired in small sums. These sums are designed to be small enough to avoid the scrutiny of financial regulators. People get family, friends, strangers for a fee, underground banks, etc. to transfer the money to separate bank accounts abroad. Those separate bank accounts are then assembled into a downpayment. The process repeats until you run out of money or the house is yours. It’s a soft-form of money laundering, but the money isn’t necessarily ill-gotten. Since there’s nothing to demonstrate the money is from the proceeds of crime, the Canadian government is more than happy to have the money flow in to Canada. […]

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