In the news
Citizenship and Immigration announced that Canada will unveil a pilot program in January 2015 to attract experienced business immigrants who can actively invest in the Canadian economy, stimulating innovation, economic growth and job creation. In addition to making an investment of $2 million for a period of 15 years and having a net worth of $10 million, immigrant investors will be required to meet certain program eligibility criteria related to language and education, and have proven business or investment experience.
In January 2015, Canada is set to launch a revamped immigrant selection system known as “Express Entry,” after extensive preparations throughout 2014. After several years of upheaval in Canadian immigration policy, this moment marks the end of a quiet revolution: the demise of the traditional points system worldwide.
In a new report released today, the Canadian Federation of Independent Business (CFIB) calls for the Temporary Foreign Worker Program (TFWP) to be replaced with a stronger solution to address permanent labour shortages. Geared towards entry-level workers, CFIB’s proposed Introduction to Canada Visa would simultaneously address critical shortages for small businesses while providing a clear path to permanent residence for foreign workers.
In one month, Express Entry launches a new phase of active immigration recruitment to meet Canada’s economic and labour market needs. Express Entry will result in faster processing and will allow the Government of Canada to be more flexible and respond better to Canada’s changing labour market needs.