Some of Canada’s largest banks and mortgage lenders are helping wealthy Chinese investors bend China’s rules on moving funds, to enable them to invest in Canadian property. An investigation by the Globe and Mail found that there were more than 8,200 suspicious transactions reported to FinTRAC by financial institutions since 2012 and many of these were facilitated by the banks themselves; they are required to report suspicious activity but not to stop it. The Globe found that, although China’s laws make it illegal to transfer more than U$50,000 overseas, investors use multiple transfers from the accounts of friends and family to get round the restriction.
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About Me
- Jackie Goodlet, Broker
- GTA, Ontario, Canada
- A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!
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