Canada Increases Immigration Under New Plan: Impact on Relocation
Posted by: Fabiana Hershfield, Supply Chain Manager
Recently, Immigration, Refugees and Citizenship Canada (IRCC) announced the Canadian government’s multi-year plan to welcome nearly one million new permanent residents to settle in Canada over the next three years. The plan sets a target of 310,000 new permanent residents to settle in Canada in 2018; 330,000 in 2019; and 340,000 in 2020.
The Canadian government’s plan is one of the most ambitious immigration targets in recent history, and the growth in immigration will help support Canadian business and labour needs and will foster economic growth in the face of slowing labour growth and an aging population. In past years the target numbers traditionally hovered around 250,000.
Economic migration. Almost 60% of the increase in immigration will come from the economic category of permanent residence, including, but not limited to, foreign highly-skilled workers, professionals, business travelers and tradespeople.
Family reunification migration. Approximately 30% of the increase of permanent residents will come from the reunification of Canadian citizens and permanent residents with their family members through family sponsorship, including spouses, common-law partners, children, parents, and grandparents.
© 2017 Fragomen, Del Rey, Bernsen & Loewy, LLP, Fragomen Global LLP and affiliates. All Rights Reserved. This alert is for informational purposes only and does not constitute legal advice or give rise to an attorney-client relationship between you and Fragomen Worldwide. If you have any questions, please do not hesitate to contact the global immigration professional with whom you work at Fragomen Worldwide.
Fragomen is closely following this subject and will issue further client alerts as developments occur.
Cartus Recommendations for Relocation Managers
The increased permanent residence spaces may allow individuals an easier route to permanent residency. This new immigration plan will continue to fuel housing demand in Canada.
As a result of the new plan, relocation managers and transferring employees should know that the high immigration rates will have an impact on housing affordability and inventory in many areas. New immigrants have embraced home ownership and transferring employees will be vying for housing. That being said, it is also important to note that Canadian market conditions vary greatly by region.
Should you require any further information about this or any other aspect of visa/immigration planning, please seek specialist advice from your immigration provider.