Here are some interesting facts about land ownership that many people are not aware of. Saskatchewan is seeing an unprecedented increase in demand for land from local farmers and investors from across Canada and beyond. The Farm Land Security Board is responsible for administering parts of the Act. There are provisions restricting ownership of Saskatchewan land. To own Saskatchewan land you must be a:
- Canadian citizen; or
- permanent resident of Canada; or
- 100 percent Canadian-owned entity (corporation, partnership, syndicate, joint venture, co-operative, association) whose shares are not traded on the stock exchange.
This has not always been the case. In the seventies the government of the day restricted non-Saskatchewan residents from owing land. Even Canadians living in other provinces were considered foreigners and restricted from owning more than 320 acres. In 2002 the government finally changed the ownership restrictions. Now we are seeing investment pouring in and this huge demand for land has brought prices more on par with other provinces.
For more information visit www.farmland.gov.sk.ca