Immigration to Canada is one of the key factors boosting the country's economic recovery. In 2019, before the pandemic, Canada welcomed 341,000 permanent residents, which was a fifth-time record in its history, exceeding the target by 10,000 more newcomers. The number included both international students, temporary foreign workers, and permanent residents.
During the last few years, many Canadian PR holders arrived from Asia and the Middle East. Many also came from Africa, the Caribbean, as well as Central and South America.
Although the coronavirus outbreak impeded the immigration pace, Canada continued to accept newcomers. In 2020, the country embraced only 184,000 immigrants. Nevertheless, once the pandemic is over, the IRCC (Immigration, Refugee, and Citizenship Canada) will go back to its commitment to bring over 400,000 newcomers in the next three years.
The highest category of applicants or candidates usually come through the economic class programs under Express Entry. These skilled foreign workers help the Canadian economy strive. The letter of the Minister of Immigration, Marco Mendicino, stated:
"Immigration is essential to getting us through the pandemic, but also to our short-term economic recovery and our long-term economic growth. Canadian have seen how newcomers are playing an outsized role in our hospitals and care home and helping us to keep food on the table…"
Planning immigration to Canada wisely
Canada might be one of the best countries in the world to live in. However, it doesn’t mean it’s easy to get settled there. People arrive in Canada seeking to obtain greater financial stability and opportunities for themselves and their families, but years pass before they can find a good job and start multiplying their income.
This is why it is so important to choose your way to Canada wisely. Wise way means you manage to get settled as quickly as possible.
There are a few essential things that would help you build a solid financial future in Canada.
In the first several weeks in Canada:
Apply for a SIN
Social Insurance Number. Without this, you won't be able to get a job in Canada and apply for government programs and benefits.
Claim Canada Child Benefit
Apply for the Canada Child Benefit if you have a child under the age of eighteen.
Get a provincial health card
Apply for a provincial health card. You’ll have to wait about three months before you can use it.
Secure a job
Open a bank account
It is better to open a Canadian bank account while you are in your home country. Search the internet for the banks to find out more.
Hire a financial consultant
Well-off immigrants might consider taking advice from a Canadian accountant who specializes in real estate planning and immigration. The Canadian tax law obliges residents to pay tax on their worldwide income. A financial expert can find ways to help reduce the tax owed to the Canadian Revenue Agency.
So, it isn’t just enough dreaming of Canada. You will need to invest your time and money wisely by learning the language and culture. If you plan your immigration to Canada and chose the right program, Canada could become one of the best places to live and settle.
And lastly, if this is your first time immigrating to Canada and without a job offer, try to move alone and not with your family. Moving to a new country is always difficult, and the burden of the family can put additional pressure on you.