The latest report of the Conference Board of Canada has recommended that Canada launches a fresh national investor program for the overseas immigrants. The board has been set up for giving policy recommendations to the government and takes wide-ranging inputs from the industry.
The board elaborated on the need for the investor program by saying that by welcoming immigrant investors Canadian economy will be benefited with increased innovative businesses and enhanced FDI to Canada. It will also accentuate economic development and assist in developing infrastructure, added the report, as quoted by SCMP.
The Chief economist of the Conference Board of Canada Craig Alexander said that other nations in the world are becoming less attractive and forthcoming to immigrants. Canada must utilize this opportunity to extract greater economic benefits from investor and entrepreneur immigration and open its doors for more number of overseas immigrants, added Alexander.
The report also gave suggestions for other sectors that would be influenced by immigration, such as the real estate sector. It has also recommended that the assistance for real estate sector must be increased so that the concerns for affordable housing can be addressed and the rising prices in the housing sector can be mitigated. The funds from the immigrant investors could also be diverted to the affordable housing projects, elaborated the report.
The report also accepted that the old Immigrant Investor Program of Canada did have various issues and these could be addressed through cautious deliberation and stringent integrity measures for the new investor program. The news release of the Board further elaborated on the other initiatives for ensuring the success of the investor program by saying that an awareness program for the public must also be held to pacify the people regarding the influence of overseas immigrant programs on the housing sector in important cities of Canada such as Vancouver.
The report of the Conference Board of Canada has elaborately dealt with the diverse aspects of equipping Canada to compete in the international market for attracting overseas entrepreneurs and investors. It suggested that Canada launches its own version of the EB-5 investor program of the US that had become immensely popular after Canada abolished its Immigrant Investor Program.
If you are looking to Migrate, Study, Visit, Invest or Work in Canada, contact Y-Axis, the world’s most trusted Immigration & Visa Consultant.