February 11, 2021, by Neil Sharma
Refugees and Citizenship Canada (IRCC) announced a work permit, valid for a three-year term, for Hong Kong residents who obtained post-secondary diplomas in Canada within the last five years.
Additionally, the IRCC will ease entry restrictions, with the eventual goal of permanent residency, for Hong Kong residents who have at least a yearâ€™s worth of work experience in Canada or who satisfy language and education criteria.
â€œThe launch of the Hong Kong immigration pathway is a historic initiative that will attract young, talented and experienced graduates who will help to drive Canadaâ€™s economy forward,â€ said a statement from IRCC Minister Marco E. L. Mendicino.
Canada welcomed 321,120 immigrants to the country in 2019â€”a 116-year high dating back to the year such statistics were recordedâ€”but, in 2020, the COVID-19 pandemic put a spanner in the works.
In November, the IRCC pledged to welcome roughly 1.2 million immigrants, 60% of whom would be â€œeconomic class,â€ between 2021 and 2023. The second wave of COVID-19 infections in Canada might make achieving that target difficult, but the country is trying.
What does this mean?
This article is fascinating, even enlightening, but you may have no idea what to do with the information it provides.
Itâ€™s dangerous to load up on knowledge and move without the practical wisdom to act.
Every week, our coaches post real estate insights and stories from the streets. They unpack real deals, breaking down the numbers, and highlight trends that their clients are making money off of.
Their wisdom is freely available to you right here.
Sign up for the iWIN Real Estate Newsletter now so you never miss the practical wisdom we are already sending to thousands of investors in Ontario.