If you are a foreign national, foreign corporation or taxable trustee, you must pay additional property transfer tax on top of the usual property transfer tax on your proportionate share of a residential property transfer if the property is within specified areas of B.C. , which now includes the Nanaimo Regional District. The additional property transfer tax is 20% of your proportionate share in the land.
Your proportionate share is the percentage of interest that you are registering on title with the Land Title Office. For example, if you are a foreign entity (foreign national or foreign corporation) acquiring a 70% interest in a property, you pay the additional property transfer tax on 70% acquired interest.