They can decalre those on their first tax return. (foreign property)For the virtually landed parents, how can we declare the properties/bank balance back home?
Also, we dont want to sell it in the nearest future but later in the future for sure,
How can we declare it now and later don’t get taxed on it?
They will still have to report and get taxed (since once they move to Canada, that's not their primary residence any more in the future.) for any capital gain from the sale. Most will get the current evaulated fair market value when they immigrate and the capital gain is calculate from that date/time. (not from the original purchase price). You should consult an accountant (in Canada).
https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/newcomers-canada-immigrants.html#PBC