What lies ahead for the Quebec Immigrant Investor? What are the key immigration policy changes expected from the Canadian Budget 2021? What is the Express Entry Route and will it be evolving?How can Canadian residents apply for Permanent Residence after 6th May?
The Quebec Investor Program
The Ministry of Immigration, Francisation and Integration (MIFI) had recently informed that the QIIP – Quebec Investor Program was not to reopen until April 1 2023 – a death knell for industry players in Canada who had been attracting high net worth individuals (worth CAD$ 2Million+) from China, Hong Kong and Macau prior to 2019. Previously investors had to part with CAD$ 1.2 Million in a government guaranteed investment for five years and relocate to Quebec.
A few weeks after the Quebec Investor Program moratorium was extended the Budget was announced. After two years the Canadian government issued their Budget as last year this had not been possible due to the focus on covid-19 containment.
Read more: Leading Women in Investment Migration Featuring Vicky Katsarova
What immigration related policies were announced?
Half a billion CAD $ will be set aside to modernize the tech behind the Canadian immigration function. The Global Case Management System is set to have a facelift (or entire replacement rather) to facilitate the better management and processing of applications for foreign immigrants and investors. Reportedly this may be ready by 2023 but it is a clear example of the increased digitization that the pandemic has brought about for governments globally.
Moreover, more than CAD $ 100 million will be invested over the next three years in the Temporary Foreign Worker Program to ensure that foreign workers rights are protected by employers. Similarly, funds will be assigned to female migrants who arrive, to support them in their integration to Canadian life, protect them against systematic racism and discrimination and provide their families with more affordable childcare options.
The Express Entry Program which draws in about 25% of all foreign immigrants is also set to be reformed according to the latest Budget. Express Entry is an electronic system used to handle skilled workers applications who wish to set up a permanent based in Canada. If the applicant’s submission is accepted, they are ranked according to a points-based system called the Comprehensive Ranking System that measures their professional experience, attributes, language skills, education etc… Those selected are provided an Invitation to Apply for permanent residence. Designating funds to improve the Express Entry Program will hopefully mean a more streamlined process for foreign skilled workers looking to call Canada home.
What are the expedited routes to Permanent Residency?
In addition, the latest Budget 2021 also indicated that as of May 6th 2021 almost 100,000 Canadian residents including graduates and workers will be eligible to accelerate their permanent residency. The immigration authorities expect that in 2021 they will be able to process about 40% of applications with the remainder being processed in 2022.
The quotas for each of the designated streams is set out below
- Health Care Workers in Canada (20,000)
- Non-Essential Health Care Workers in Canada (30,000)
- International Graduates (40,000)
French speaking healthcare workers and non-health care that are French speaking and essential have no quota caps. Similarly French speaking graduates have no cap or quota.
