Will Canada’s immigration proposal give impetus for migration by investment?

JULY 12, 2022 02:42:11 PM

The lockdowns and travel-related restrictions during the past two years have had a significant negative impact on migration and the global economy. In 2021, immigration was not a priority for the countries that benefited from immigration policies. But even among the countries with large immigration rates, Canada managed to stand out. Canada’s economic recovery and long-term prosperity depend heavily on immigration.

The Permanent Residency through Investment in Canada programme, which covers both the start-up visa programme and the self-employed visa programme, is one of the goals of the 2022–2024 Immigration Levels Plan. This program’s Federal Business class is one of its components. During the years 2022-2024, the Canadian immigration department IRCC intends to grant a 50 percent increase in new permanent resident visas under this category. This program has been growing since its inception in 2015. Through immigration by investment programmes like the immigrant investor programme, start-up visa programme, and other residency-by-investment programmes, the successful applicant, spouse, and eligible dependent children may obtain a residency visa. This status may lead to citizenship under specific conditions. According to the new immigration plan, immigrants will be accepted at a rate of roughly 1% of Canada’s population each year. The government intends to receive 431,645 permanent residents in 2022. The target number of new permanent residents will rise to 447,055 in 2023 and then by another 15,410 in 2024.

Canada is becoming an increasingly more appealing location for investment thanks to its high standard of living, highly skilled labour force, and ease of doing business. Canada ranked #1 in immigration and investment, according to the Anholt-Ipsos Nation Brands Index 2021, which gauges opinions of a country’s capacity to draw immigrants and foreign employees. To attract wealthy investors and their capital to Canada, they provide the most well-established and popular immigrant investor programmes. Investors and their families can become Permanent Residents of Canada by participating in these programmes. The Saskatchewan Entrepreneur Application Program, which is a part of the Saskatchewan Immigrant Nominee Program (SINP), the Quebec Immigrant Investor Program, and the Ontario Immigration Program are the most well-known immigrant investor programmes (OINP). The Canadian government, along with the governments of the provinces and territories, manages these channels for business people, investors, and independent contractors. With the help of these immigration investment programmes, Canada is ensuring the creation of new business prospects and enhancing its access to expanding diversity and development.

Raising the bar for investment-based migration

The financial markets are becoming more liquid as a result of economies that are based on technological breakthroughs, inclusive societies, and the currently popular environmental resilience, social, and corporate governance requirements. According to Investment Migration Insider, the worldwide residence and citizenship-by-investment sector will produce $100 billion in revenue as a result of these causes. Furthermore, Canada is becoming a more resilient alternative for investment migrants thanks to its competitive, flexible approach to modifying immigration laws to draw private wealth, money, and talent.

These aspects make Canada a desirable location for business and investment; the country received a score of 87.2 on the Venture Capital & Private Equity Country Attractiveness Index. With its extensive potential, businesses and investors from around the world can expand in Canada, create jobs, and unleash investment opportunities, all of which will help the country’s economy grow. Investing in Canada has many advantages, including access to international markets due to the country’s strategic location and favourable trade agreements, the world’s best-educated workforce, which is constantly searching for new international talent at all levels, and a low marginal effective tax rate (METR), which lowers risks for your company.

Such offerings facilitate migration through investment while ensuring migrants are safe in markets with resilient currencies, backup plans, and other benefits such as reducing the potential for other troubles and economic crises. In addition, it guarantees a high standard of living and protects citizens from financial shocks.

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