Living and buying in Banff

The answer is “yes”- however the property must then be occupied by a renter, who meets the “eligible resident” requirements. In other words, the restrictions apply not to the ownership of property in the National Park, but the occupancy of it.

Parks Canada’s main rule for Banff actually relates to living here.  To actually live in Banff, your primary income must come from a business within the town of Banff. The idea is that with so few properties in Banff, purchasing needs to be restricted to people that actually NEED to live here. So, although having a vacation home in Banff isn’t possible, you can certainly own an investment property here and rent to people that work in Banff National Park, or live here.

According to the National Parks Lease and License of Occupation Regulations an eligible resident is defined as: 

(a) an individual whose primary employment is in the park, 

(b) an individual who operates a business in the park and whose presence at the place of business is necessary for the day-to-day operation of the business, 

(c) a retired individual who resides in the park and who, for five consecutive years immediately prior to retirement, 

(i) was employed primarily in that park, or

(ii) operated a business in that park and whose presence at the place of business was necessary for the day-to-day operation of the business, 

(d) a retired individual who resided in the park at the time of the individual’s retirement and who resided in that park on July 30, 1981, 

(e) an individual who is a student in full-time attendance at an educational institution that is located within the park and registered under the Income Tax Act or applicable provincial legislation relating to education, 

(f) an individual who is a lessee of public lands in the park and who

(i) was the lessee of those public lands prior to May 19, 1911, or

(ii) is a descendant, by blood or adoption, of an individual who was the lessee of those public lands prior to May 19, 1911, or

(g) the spouse or common-law partner or a dependent of an individual referred to in any of paragraphs (a) to (f).