What are FINTRAC forms and why do you have to fill them out?

FINTRAC forms have become a standard part of the Real Estate paperwork. FINTRAC stands for Financial Transactions and Reports Analysis Centre of Canada. The completion of these documents by realtors and the brokerages they work for is a federal requirement.

According to the government's FINTRAC website: FINTRAC is part of Canada's national initiative to combat money laundering and terrorist activity financing. It is a specialized agency created to collect, analyze and disclose financial information and intelligence on suspected money laundering and terrorist activities financing.

Not only is filling out the documents required for every transaction, the documents need to be witnessed by a professional, in our case either a realtor or a notary/lawyer. A realtor in a cooperating office generally will not charge for this service (so if you are a Royal LePage client you can go to any RLP office to fill out the paperwork) but a notary/lawyer generally will.

The information collected is kept locked away and confidential, by the brokerage office. It does not stay in our files.

For more information on this, please visit the website: http://www.fintrac.gc.ca/intro-eng.asp

It's a Coastal Lifestyle ... Live It!

Personal Real Estate Corporation

You may notice that Shelley's name has gotten a little longer in advertising after this week. Like Ed, Shelley has become a personal real estate corporation, and as such now has a real estate license in the name of the corporation. Real Estate Council of BC regulations require advertising to have her full corporation name.

So the ad text will get a little longer as the BC Oceanfront Team is now Ed Handja Personal Real Estate Corporation and Shelley McKay Personal Real Estate Corporation. Same great BCO service and experience; more paperwork for Shelley!

It's a Coastal Lifestyle ... Live It!

Vancouver Island Amenities

When people think of the islands and the coast of BC, they think of rugged wilderness, large trees and vast spaces. While these are all accurate and definitely part of the charm of the coast, what people don't realize are just how many amenities Vancouver Island offers as well.

The four main urban areas on Vancouver Island are (in order of population) Victoria, Nanaimo, the Comox Valley (including Courtenay and Comox) and Campbell River. All of these centres have major hospitals (Victoria has two) and vibrant downtown districts.

Vancouver Island has two universities. The University of Victoria has been around for 50 years and attracts students from across Canada as well as many international students. It is also a popular choice for students on Vancouver Island. The second university is Vancouver Island University, which is based in Nanaimo. It was originally Malaspina College, and in 2008 was granted full university status under its new name.

The Save On Foods Memorial Center regularly features high profile music acts. MacPherson and Royal Theatres in Victoria and Port Theatre in Nanaimo attract major stage and dance productions, while the Sid Williams Theatre in Courtenay and the Tidemark Theatre in Campbell River provide a nice variety of live entertainment for those communities. Victoria also boasts the world-class Royal BC Museum as well as an art gallery.

Both Victoria and Nanaimo have a number of indoor shopping malls, including The Bay Centre and Mayfair Mall in Victoria, and Woodgrove Centre in Nanaimo - all very popular with island residents. All the urban centres have a wide variety of shopping available.

One of the appeals of living on Vancouver Island is that you can truly have it all. Anywhere you live on the island offers amazing coastal beauty, while all the amenities needed or wanted are also available.

It's a Coastal Lifestyle ... Live It!

Signs on the Water

Looking at the land from the water offers a different perspective. One of the things people who are out sight seeing or fishing for the first time may have questions about are some of the markings you can see on apparently unoccupied land. These can appear to be art work or secret messages, but actually they are for the benefit of everyone.

When fishing in amongst the islands and just off the coast, it is the responsibility of the person fishing to know and follow the regulations set out by the Department of Fisheries. These regulations include closures, places in the water where fishing is not allowed, or is only allowed to certain sectors of the fishing community (commercial, sport, etc). The boundary markers are generally visible from the water, some newer than others, some faded with time (many boundaries have been in place for years). Sometimes good old-fashioned signs work.

The markers are generally a triangle and a square, although there is no clear definition on the DFO website as to which is used when and generally the regulations will simply say "between the boundary markers at ..." Whenever you see one of these markers, search the shore opposite (often in a bay) for its mate. Line the two markers up, and the "invisible line" between the two markers is your boundary. You don't want to get caught on the wrong side of the line, as there can be hefty fines!

It's a Coastal Lifestyle ... Live It!

BCO Coastal Gems: Port Alice

The west coast of Vancouver Island is marked by large inlets and remote villages and towns separated by wild coast and mountains. Only a few of the towns are accessible by paved road.

Port Alice is on the north-west of Vancouver Island, on the banks of Neroutsos Inlet. Often referred to as "The Gateway to the Wild West Coast", Port Alice draws fishermen looking to access the waters off Northern Vancouver Island as well as Neroutsos and Quatsino Inlets.

The town itself has approximately 800 residents. The main industry has historically been the local pulp mill. The town offers basic amenities and shopping as well as a marina and a golf course.

Beach in front of Port Alice

Port Alice is surrounded by amazing natural beauty, with great access to Alice and Victoria Lakes recreational areas. This is an area popular with outdoor enthusiasts. The climate is mild and wet, like most of the north island.

Alice Lake

To get to Port Alice is approximately a 3 - 3.5 hour drive from Campbell River, along highway that cuts through some very remote and beautiful coastal forest.

It's a Coastal Lifestyle ... Live It!

Non-Residents and Buying Property in Canada

The coast of British Columbia is known as one of the most beautiful places on earth, offering a natural wilderness and sense of adventure not to be found in many other places. With quick access from urban centres to the more remote areas of the coast, BC is a unique offering. It is no surprise then that it appeals to people from all over the world. Whether it is a visitor who wants to have a place to retreat to once a year or someone who is seriously thinking about relocating for a different lifestyle, the coast draws people from all over the world.

Every country has its own way of dealing with non-resident buyers, and so it is important that someone coming from outside Canada and wanting to buy property educated themselves on the requirements and rules.The BC Real Estate Association has a good overview here.

 

For people looking to make a more permanent move to Canada, then the place to start is the Government of Canada and their requirements for immigration.

It's a Coastal Lifestyle ... Live It!

BCO Coastal Gems: The Southern Gulf Islands

When people think of the Gulf Islands of BC the first islands that come to mind are the big ones: Saltspring, Mayne, Pender and Galiano. While these are the anchors of this island system, the Gulf Islands are also home to a myriad of smaller islands.

 Galiano Island

Islands such as Ruxton and Gossip are smaller, boat access islands but still are home to many - either as a recreational get-away or as a permanent residence.

Gossip Island in the foreground

There are also private islands dotted among the bigger islands.

Leech Island with Thetis Island behind

The Gulf Islands are renowned for natural beauty, great climate, relaxed atmosphere and diverse culture. They are becoming known as a food destination as well as a vacation destination.

Decourcy Island

The Gulf Islands offer residents and visitors alike a quick escape. They are close to both Vancouver and Vancouver Island yet are very different in culture. Each island offers something unique. The islands are very popular with boaters who like to explore the many beaches and protected hidden coves.

Visiting the main Gulf Islands is as simple as a ride with BC Ferries, while the smaller islands require either a personal boat, a water taxi or a charter flight.

It's a Coastal Lifestyle ... Live It!