Canada visa: How can you get permanent residency through investment
- Between 2022-24 the Canadian immigration department IRCC intends to grant a 50% increase in new permanent resident visas under this category
The North American country of America- Canada has re-started issuing express visa from 6 July after a pause of over two years. The country whose economy suffered negatively due to the pandemic, is trying to boost their economic recovery and long-term prosperity. To do so they have emphasised on immigration.
Canada's Immigration minister Sean Fraser announced that the country had resumed Express Entry draw from 6 July. One can apply for permanent residency on the Canadian soil under the Federal Skilled Worker program, Federal Skilled Trades program and Canadian Experience Class.
Further the Canadian government also increased the stay period under the Super Visa to five years per entry to Canada. People who currently have a Super Visa also have the option to request to extend their stay by up to two years while in Canada. This means current Super Visa holders will now be able to stay in Canada for up to seven consecutive years.
PR through investment
Canada remains a lucrative for investment owing to its skilled labour force, high standard of living and ease of doing business. One can get Permanent Residency through Investment in Canada, which started in 2015.
The Canadian government has a programme, which covers both the start-up visa programme and the self-employed visa programme. These furthers your chances of seeking PR in the north American country. This remains one of the goals of the 2022–2024 Immigration Levels Plan of the Canadian government.
Between 2022-24 the Canadian immigration department IRCC intends to grant a 50% increase in new permanent resident visas under this category.
Who can get residency visa in this category?
Under the Permanent Residency through Investment in Canada programme, the successful applicant, spouse, and eligible dependent children may obtain a residency visa.
Govt policy for granting PR through investment
The successful applicant and their family is eligible to get a residency visa which can be furthered to a citizenship under certain 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.
Programmes offered by the Canadian government
The Canadian government provides the most well-established and popular immigrant investor programmes. Investors and their families stand a chance to 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 (OINP) are the most well-known immigrant investor programmes. The Canadian government, along with the governments of the provinces and territories, manages these channels for business people, investors, and independent contractors.
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First Published:13 Jul 2022, 06:22 PM IST
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