Sanjay Yadav - 01 Apr, 2023
Surya Rathee - 25 Mar, 2023
Canada has emerged as the number one nation for Immigration and Investment globally as per the 2021 NBI - Nation Brands Index by Anholt-Ipsos. The nation’s record ranking in 2021 is attributed to diverse factors that include the number one position for immigration, investment, people, and governance. It has also been ranked steadily for Culture, Tourism, and Exports.
The Consumer Retail Sales in Canada has strongly recovered and also is the reason for the current optimism. It accounts for nearly 55% of the nation’s GDP so far in 2021.
Launched in 2005, Nation Brands Index was developed by Professor Simon Anholt. He is a globally renowned authority on National Image and has authored 6 books regarding cultures, nations, and globalization.
Immigration is the crucial strategy in Canada’s endeavor to economically recover in the post-pandemic times. This has been emphasized by the Immigration Minister of Canada Sean Fraser right from the time he assumed office this year.
Canada is highly ambitious to accept 1.2 Million plus fresh immigrants in the three years period from 2021 to 2023. The nation aims to welcome 401,000 fresh Permanent Residents in 2021, around 411,000 fresh Permanent Residents in 2022, and roughly 421,000 fresh Permanent Residents in 2023.
The economy of Canada has surpassed the fourth wave of the pandemic and has begun to revert to a condition quite similar to normalcy. The high rates of vaccination and vaccine passports have diminished the requirement for strict public health curbs. Businesses in the nation are thus highly positive regarding the future and economy.
The Press Secretary of the Immigration Minister Alexander Cohen has revealed in a media release that as the nation progresses into the fourth quarter of the year, IRCC is well placed to achieve its target of accepting 401,000 fresh Permanent Residents in 2021. While ensuring strict enforcement of health protocols, we have been successful in keeping a functional immigration system against all odds due to the once in a hundred years pandemic, added Cohen.
Kiefer Van Mulligen the economist at the Conference Board of Canada has stated in his report that Retail Sales in Canada have rebounded and performed extremely well. A few of the provinces in the nation eased restrictions in the third quarter prompted by accelerated vaccination programs. This permitted several residents in Canada to travel, explore vacations and become socially active. All of this resulted in increased spending, explained the economist.
Statistics Canada has revealed that 75% of the business owners in the nation are now confident about having a highly positive perception of the next fiscal year. Roughly 25% of the businesses that participated in the survey of Statistics Canada at the end of the 3rd quarter this year anticipate an increase in demand for services and products. 1 out of 5 businesses are also anticipating an increase in prices of their services and goods.
What this means for overseas investors is that they can take advantage of the positive development through Canada Investment Visa. They can obtain Permanent Residence and Canada Citizenship by investment even as the economy of Canada resurges.
The Start-Up ambiance in Canada is amongst the best globally, specifically in the times of the pandemic. The Start-up Ecosystem Global Index Report: 2021 ranks Canada at the 4th position. It has the highest number of cities in the top 50 list than any other nation except China and the US which are much larger than Canada.
Canada, fortunately, has 3 cities in the top global 50 destinations. The business ecosystem of Montreal moved 3 positions higher to obtain the global 46th rank. The only two nations that have more cities than Canada in the top 50 list are China and the US. This demonstrates the strong regional and global hub status of the nation observes the report.
Canada launched the Immigrant Investor Programs for attracting affluent overseas investors and investment to Canada. Investor Visa Canada is a program that enables immigrants to obtain a Permanent Residency or Citizenship of Canada. The investors have to make eligible investments in Canada. They can then obtain either a Golden Visa/Permanent Residency or Golden Passport/Citizenship.
Canada Investment Visa is aimed at immigrants who have the business experience for making an investment in the economy of Canada. This is for increasing employment and fostering economic development in specific territories or provinces in Canada.
The Canada Investment Visa offers the following benefits to its holders:
Canada offers innumerable immigration programs through which overseas nationals can immigrate to the nation and attain Canadian citizenship. The majority of them specify stringent criteria with respect to the profession, age, and education of the applicants. It is easier and faster to obtain a Permanent Residency or Citizenship if the applicants make an investment or start a business in Canada.
Canada citizenship by investment can be extended instantly to all members of the family inclusive of spouses, common-law partners, and children aged below 8 years. Adult children are required to make a separate application and independent investment. Once acquired, citizenship is passed on to the successive generation. But the parents of the applicant and spouse are not eligible for inclusion in the original application. They can immigrate to Canada only after the family of the investor has moved to Canada.
The Citizenship of Canada through investment cannot be acquired till the lapse of 3 to 5 years upon making the investment. The investors are required to first file an application for Permanent Residency. Later, the applicant has to reside for 3 years in Canada and spend a minimum of 183 days in one year during the period of these 3 years. They can apply for Citizenship in Canada only after this. The investor and their family receive the same rights and duties as citizens in Canada through Permanent Residence. The only privilege excluded is the right to vote and assume public office.
Canada citizenship by investment Program was functional throughout the nation during 1986-2014. However, it is now available only in the Quebec Province from 2014 as QIIP - Quebec Immigrant Investor Program. The overseas investor inclusive of the family members can reside and work in any location in Canada after obtaining the Permanent Residency in Quebec.
Investment alone is not adequate for obtaining Canada citizenship by investment. The applicants are required to fulfill other eligibility criteria as well for obtaining citizenship in Canada through investment. The 5 criteria that you must fulfill for obtaining the passport of Canada are as follows:
The application for Canada Investor Immigration Program must be filed with the appropriate office of the Government of Canada. Upon submission, a reference number for the application is provided that allows applicants to track the status of their applications.
After approval, you have to submit your passport to the local Consulate or Embassy of Canada if you are from a non-visa-exempt nation. You will then be offered the Canada Permanent Resident Visa first. After arrival in Canada with the PR Visa, you will be offered the status of Permanent Resident. You can obtain citizenship after fulfilling the required criteria on the Canada PR Visa.
Nationwide Visas is the premier Immigration and Visa Consultancy that offers you assistance and support through ICCRC accredited Immigration Consultants. If you wish to obtain Canada citizenship by investment for you and your family, contact us today to start the application process for the Canada Investor Immigration Program.
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Sanjay Yadav - 01 Apr, 2023
Surya Rathee - 25 Mar, 2023
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