Date
24 September 2017
Minister of Citizenship and Immigration Chris Alexander said criteria for selection include level of contribution to the local economy, labor market and community. Photo: Internet
Minister of Citizenship and Immigration Chris Alexander said criteria for selection include level of contribution to the local economy, labor market and community. Photo: Internet

Canada to launch express entry for economic immigrants

Canada is introducing immigration programs aimed at attracting skilled laborers and investors.

The new schemes include an electronic express entry system for skilled workers, and another one that requires a minimum investment of C$1 million (around HK$6.8 million) to qualify for residency, the Hong Kong Economic Times reported, citing Minister of Citizenship and Immigration Chris Alexander.

Applications can be filed online starting Jan. 1, and successful applicants will receive a confirmation within six months.

Alexander said criteria for selection include level of contribution to the local economy, labor market and community. Those hired by a local employer or nominated by a local community representative will have priority in the selection process.

Canada’s immigration requirements are less stringent than those in Australia, where an applicant needs to invest a minimum amount of A$5 million (HK$32.73 million, US$4.2 million) and wait for at least four years.

Earlier, the Australian government said it will launch a new program in July 2015, which requires a minimum investment of A$15 million and a waiting time of one year.

In the United Kingdom, an applicant needs to invest at least 2 million pounds (HK$24.29 million, US$3.13) in shares or treasury bonds and wait about five years for processing, the report said.

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