Provincial Nominee Programs (PNPs)

This week, Canada will be holding its first ever Entrepreneur and Investor Immigration Summit. The Summit will be held at the Hilton Toronto Airport Hotel on December 6^th and 7^th and our partnering Canadian firm, CanadaVisa, is one of the event’s marketing partners. Immigration and other professionals from both Canada and internationally will get together to share their vision on how Canada’s entrepreneur and investor programs (federal, provincial, and territorial) can enhance Canadian economy and society. Attendees will include immigration lawyers and consultants, bankers and economists, researchers, and finance and real estate representatives just to name a few.

Since 1978, high net worth individuals and business investors alike have immigrated to Canada to help boost Canadian economy through their investments, as well as business establishments leading to job creation for Canadian residents. The results of these foreign nationals immigrating through entrepreneur and investor programs varies.

On the plus side, the programs attract talented and innovative individuals, their investment funds, as well as their stimulation of the economy through spending. On the other hand, concerns have been raised on issues such as selling Canadian citizenship and housing affordability. The degree to which the programs actually benefit Canada’s economy is also questionable.

The purpose of the Summit is to encourage discussions on the value of the existing entrepreneur and investor immigration programs, and ideas for reform that would improve the programs in the future. A Conference Board report will be released in early 2017 on the conclusions derived from the Summit about how to upgrade Canada’s entrepreneur and investor immigration programs.

The key themes of Canada’s Entrepreneur and Investor Immigration Summit 2016 are Vision, Action, and Prosperity, each defined below:

• Vision: An aspirational description of what Canada would like to achieve and accomplish in the future through its entrepreneur and investor immigration programs, keeping Canada’s economic and social objectives in mind. This will require exploration of Canadian and international opportunities, trends, and issues, as well as key motivators for entrepreneur and investor-class immigrants. Canada’s strengths and weaknesses will be discussed to conclude areas requiring improvements.
• Action: How to put Canada’s vision into action, in other words, what steps to take to help Canada achieve stronger entrepreneur and investor immigration programs that can be more competitive on the global stage.
• Prosperity: The end goal of Canada’s entrepreneur and investor immigration programs is to support economic and social prosperity. To help achieve this goal, the Conference Board will prepare a report on the Summit’s key recommendations for the future of Canada’s entrepreneur and investor immigration programs.

Some of the questions that will be raised and discussed at the Summit include:

• Does Canada need entrepreneur and investor immigration programs?
• What is Canada doing well and what improvements can be made to better support Canada’s economic and social prosperity?
• How many entrepreneur and investor immigrants should Canada admit each year?
• What is the right balance between passive and active investment programs?

Canada wants to offer foreign national entrepreneurs and investors appealing programs that would benefit both the individual as well as the country. Through the Summit this week, professionals will meet to discuss potential reforms to the existing programs or develop entirely new ones. Canada’s entrepreneur and investor programs, at both the federal and provincial levels, are in need of a facelift and the Summit is the first step in the right direction.

For more information on immigration to Canada, please click here.

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