There seems to be a way that Canadians can now use some of their RRSP money to invest in Mexican property. This is excellent news for many in Canada who want to escape the cold winters to stay in Mexico for longer than a few weeks or even months.
This new program allows easy access to many to purchase when looking for a vacation home financing in Mexico or the Latin Americas. For those of you who wish to do more foreign travel and vacation property ownership, a Canadian company based in Mississauga, Canada, has developed an innovative approach to the financing of vacation property ownership that could take the Canadian market by storm — the Vacation Home Buyers Plan (VHBP).
Conceptualized and developed, a Canadian tax and securities lawyers, and veterans of the travel industry, Canadians can now use their Registered Retirement Savings Plan (RRSP) to acquire their dream vacation property.
By acquiring their dream vacation property today when it is more affordable, Canadian families can enjoy the vacation lifestyle now while gaining a significant appreciation in the value of their vacation property in the future. In fact, by waiting until later in life, it may only be too expensive for many Canadian families to afford these highly desirable vacation properties.
How can this program help you purchase your foreign vacation home?
Traditionally, the two most significant hurdles for vacation property owners are:
The down payment requirements of the property that can range between 20 and 30 percent of the property value,
The securing of a mortgage in a foreign jurisdiction.
This new program addresses both these challenges. With its structure, it allows Canadians to access their RRSP for the down payment with no tax implications. Also, this new program has many strategic relationships with many major banks in the Caribbean and Mexico that are willing to finance qualified Canadians that meet the down deposit requirements.
Who can benefit using Canada’s Vacation Property Financing Program?
With 67% of Canadians owning an RRSP with over a trillion dollars in RRSP assets, the path to vacation property ownership for Canadians has never been easier. You simply have to have an RRSP to qualify. If you have an RRSP contribution room still available, you can make a new contribution, get a full deduction, and subsequently use the proceeds to finance your vacation dream home purchase. It has never been easier!
Original article posted on Medium here
WestJet is launching once-a-week flights from Calgary to Los Cabos this upcoming winter season, the Los Cabos Tourism Board announced on Friday (Sept. 11).
"We are very excited to have our Canadian friends coming back to Los Cabos for the winter. In the past few years, we have seen a steady increase in the number of Canadians visiting our destination. We want to continue this trend as much as possible. Los Cabos welcomes you with open arms," stated Rodrigo Esponda, managing director of the Los Cabos Tourism Board.
The direct flight connecting Calgary with Los Cabos will start October 10th.
Los Cabos reopened to tourism on June 15th, 2020 and has assembled its health and safety efforts under its new initiative: A Safer Way to Get Away #LosCabosWithCare.
These efforts comprise destination-wide guidelines and certifications to ensure the well-being of visitors and the local community at all touchpoints.
This includes strict and consistent health and safety protocols that have been implemented across the destination from the airport to hotels, restaurants, transportation companies, and other service providers; making Los Cabos one of the safest destinations in the world.
Original article published here
Great news for Cerritos and Baja California Sur as the State health ministry has authorized the opening of additional business after seeing a two week pattern of dropping Covid-19 cases and deaths.
Business allowed to reopen include: Gyms, car washes, movie theaters, churches, and additional retail outlets. It will also allow restaurants to up there capacity to 40% occupancy.
Please visit our home page to learn more about this unique oceanfront community in Cerritos Beach, BCS