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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