The Orlando Agency have recently set up a headquarters for Canadian's looking to purchase real estate in Orlando, fast becoming to go-to destination for many Canadians contemplating investment into the Florida real estate market. "We've seen a large number of Canadians purchasing in Orlando as opposed to the traditional areas of the South-East and South-West of Florida, mainly due to the variance of real estate options, combined with income potential that's available in the World's #1 Vacation Destination", says Senior Global Real Estate Advisor, Garry Walmsley of Global Real Estate Services.
A bipartisan bill currently before Congress, would allow Canadians over the age of 55 to stay south of the border for up to eight months of the year. However, they have to either own a home or have signed a rental agreement.
The legislation is officially called the Promoting Tourism to Enhance our Economy Act. Under it, Canadian residents would still be considered “nonresident aliens” and would be exempt from filing U.S. taxes.