HOW THE CANADA INVESTMENT IMMIGRATION PROGRAM WORKS?
December 14, 2022 11:28:01 PM
Since the inception of Canada investment immigration program, a number of Indians have invested in the country to relocate there and have reaped benefits of the same. Over the period, there have been major changes in the approach and programs undertaken to suite the needs of the investors keeping in mind the betterment of Canada’s economy. Canada has always been careful about inviting those individuals in whom they could vest their trust to contribute to the country both economically and culturally.
As of 2020, Canada was the 13th largest economy in the world. Post pandemic, Canada is spearheading to regain back its economy. It is still considered the best country for global investments. Canada’s Investment immigration program for long has been holding the interests of the investors world-wide. The global market access that Canada provides, its unparalleled talent, low costs and reduced risks are few of the reasons why Canada is so desirable for investors. Lot of fortune 500 companies have extended their bases in Canada, due to the increased norms set by USA. A lot of research and development units for these companies have been set up in Canada. It is one of the rarest countries where opportunities are in large number with reduced number of risks. It provides a stable and vibrant eco-system for companies wanting to go Global. Canada extensively, encourages Foreign Direct Investments.
Canada has fifteen trade agreements with fifty-one countries providing immediate access to more than 1.5 billion consumers, thus providing more reasons for investors to choose Canada Investor program.Due to these agreements, Canada has achieved supply chain integration, preferential access to world markets, lower risks for service providers & investors abroad and facilitation of easy business travels to partner countries; thus, making Canada one of the most investable countries in the world.
One of the agreements that Canada is part of is CUSMA (Canada -United States -Mexico Agreement) which was formed in 2020 to replace the NAFTA (North American Free Trade Agreement). This Agreement was also made with an intention to help modernize continental trade. Canada is part of CETA (Canada European Union Comprehensive Economic and Trade Agreement). As per this agreement, Canada is entitled for 98% reduction in tariffs on goods exported to the European Union from Canada. This agreement provides free access for Canada to both European Union and North American Markets. There is a possibility that during the next one year, there could be 99% reduction of tariffs for Canadian goods entering the European Union thus making it almost duty-free for Canada.
Another trade agreement in which Canada is part of is CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This is a trade agreement in which 11 countries are currently participating which include Australia, Singapore, Japan, Malaysia, Mexico, New Zealand, Peru, Vietnam, Chile, Brunei, and Canada. This group represents 13.5% of global GDP and includes 495 million consumers. Once this is implemented or put to practice in all the participating countries, the goods being exported from Canada to these countries would be 98% duty-free which include natural resources and agricultural products. This is one of the major pulls for the investors to invest in Canada Investor program.
Canada has signed free trade agreements with European Free Trade Association (EFTA) and it is in force since July 2009. The participating countries include Iceland, Liechtenstein, Norway, Switzerland, and Canada with the main emphasis on tariff elimination. With this agreement, the country hopes to expand the agreements to services, investments, and intellectuals to a later point of time.
Canada is part of other free trade agreements with countries like Ukraine, Chile, Columbia, Costa Rico, Honduras, Panama, Peru, Israel, Jordan and Korea. It would be interesting to obtain Canada Investment Green Card through their immigration program to enhance your business prospective if your business is built for expansion beyond horizons.
Another reason why Canada is one of the reasons why investors intend to invest in the country is the workforce. Almost 60% of the country’s work force between the age group of 24 and 65 years of age are graduates of exemplary standards. And they, being home grown understand the pulse of the country better and thus help improving the business sights. Things apart, a lot of educated population of the world are currently looking to relocate to Canada due to the kind of opportunities and living conditions Canada offers using their many Canada Skilled immigration pathways.
Canada is good for investors also because of its taxes and low-cost conditions there. The METR or Canada Marginal Effective Tax Rate currently stands at 13.7% which is lowest in the G7 countries. Canada is also one of the most politically stable countries. Amongst the G7 countries, as of 2020, Canada has been achieving high levels of Government stability at 1.11 points, with Japan following closely at 1.04 points and USA coming last at -0.02 points. The statistics were drawn taking into account data from 1996 to 2020 as recorded by the World Bank. This data is a composite measure taking into consideration other metrics from sources like Economist Intelligence Unit, World Economic forum and Political risk services among others. These numbers reflect likelihood of immoral political transfers, social unrest, upkeep of general public health and utilities, violent disorders, terrorism, tensions, ethnicity, religious & regional conflicts among others.
Canada is known for its strong banking and monetary systems and processes. Canada is home for 6 major banks of the world which have been ranked among top 35 safest banks in the world in 2020 as released by Global Finance. Royal Bank of Canada, TD Bank, Bank of Nova Scotia, Bank of Montreal, Canadian imperial Bank of Commerce and Federation des Caisses Desjardins du Quebec are those which have made their way to the list of safest banks in the world. These banks have been part of the list in 2019 too.
Canada is also known as one of the safest countries in the world with very low corruption activities being recorded. It ranks second in the G7 countries and 11th in the world in the list of safe counties. This report was generated by Transparency International which drew out Corruption Perception Index 2020. 180 countries were measured and data drawn. The data identified measured the number of bribes, embezzlements, overpricing, favouritism, corruption in different fields to reach its list.
Canada has stood out in innovation and technology in the recent times. Canadian Government has continuously encouraged scientific research and experimental development providing strategic innovation funding and supporting initiatives towards innovative development. A lot of focus has been put in developing technology and the latest trends which includes artificial intelligence.
Among other things, Canada’s quality of life is something that drags a lot of people to relocate to the country. For the quality of life that one earns in Canada, the cost of living is lot lesser in comparison to its European counterparts which offer almost the same kind of lifestyle. Canada is known for the support that the civilians get from the Government and the Healthcare system provided there. Canada also offers free education for its citizens and residents till the individual reaches 18 years. Canada is a peaceful country known for very few violent exhibits as it discourages its subjects from owning or having possession of arms and ammunition. Canada is full of vibrant sceneries and cities which have something to offer every season. Canada celebrates many festivals all through the year and believes in celebrating life. Canada also believes in supporting the pursuits of their citizens irrespective of their ethnicity. Canadians from various back grounds have been able to participate in the administration of the country.
There are multiple investment options open for investors to choose to invest in Canada. However, it is required that you as an investor approaches the right immigration expert to understand each of the options open and identify what works before proceeding to invest in the country. One of the top investment immigration firms which has had a lot of experience in helping their clients relocate to Canada from India is XIPHIAS Immigration. They are experienced had have complete knowledge of the proceedings in Canada investment immigration process and are also registered with the ICCRC, thus being official immigration partners. It is safe to move with the likes of XIPHIAS Immigration for a secure and stress free immigration processing.
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