CANADA TO BOOST NEW PERMANENT RESIDENTS AND START-UP VISAS OVER NEXT THREE YEARS
Canada intends for a major increase in new permanent residents and start-up visas in 2022 to 2024 immigration plans
On February 14th, 2022, Immigration, Refugees and Citizenship Canada (IRCC), released the 2022-2024 Immigration Levels Plan.
In 2021, Canada welcomed over 405,000 new permanent residents – more than in any previous year in its history.
WHAT ARE THE CHANGES?
The 2022-2024 Immigration Levels Plan particularly aims for a considerable increase in the number of new permanent resident visas granted under the Federal Business class which is part of the Permanent Residency through Investment in Canada, that includes both the start-up visa program plus the self-employed visa program.
IRCC plans to increase the number of new permanent resident visas granted under this category by 50% during the 2022-2024 period. This planned expansion of the program is consistent with the nonstop growth seen by the program since its inauguration in 2015.
Immigration by investment programs as well as a residency by investment, such as the immigrant investor program, start-up visa program, and other residency-by-investment programs, allow the successful applicant, spouse, and eligible dependent children to obtain a residency visa. This status may lead to citizenship with certain conditions.
Under the new immigration plan, immigrants are to be welcomed at a rate of about one percent per year of Canada's population. In 2022, the government plans to welcome 431,645 permanent residents. In 2023, the target goal for permanent residents will increase to 447,055 and then by an additional 15,410 in 2024.
The government stated that national targets and ranges for 2023 and 2024 will be confirmed or adjusted by November of each year. Continue to check the government of Canada's website and QICMS's website for the most recent updates and information.
QICMS Immigration, Citizenship, and residency by investment has been offering consulting services intended for investors, entrepreneurs as well as international business people of every continent wishing to settle in Asia, Canada, Europe, the Caribbean, the United Kingdom (UK) as well as the United-States of America (USA). Also, QICMS provides Second citizenship by investment, second passport, and dual nationality solutions.
With its head office in MENA and professionals permanently based in Asia, Canada, Europe, the Caribbean, the UK as well as the USA, QICMS offers a wide range of business immigration and consultancy services with a team of specialized lawyers and multilingual business immigration experts.
Interested in learning more about how you can immigrate to Canada through investment? Get started by completing our online assessment form today.