As per the honorable Citizenship And Immigration minister Mr. Chris Alexander, the government of Canada is committed to finding ways to attract experienced and willing entrepreneurs and investing individuals to boost the economic scenario of the country.
In continuation of its relentless efforts to find better alternatives, the government has come out with economic action plan 2014. The proposed program promises broader scope and an updated approach, which tries to adopt a parallel approach to prevailing perspectives of fast changing global economy.
The current migrant investor scheme – IIP and business owners program – EN, were planned and adopted almost 3 decades ago. At that time the emphasis of the government of Canada was on safeguarding the employment opportunities in the country, but all those things and principles have undergone a big transformation. The prevailing global economic perspective needs a rich infusion of innovation, higher productivity and wider scope for creating more employment. The latest economic trends need establishment of stronger business enterprise capable of competing at the global level.
The performance of the existing Canada Immigration Entrepreneur And Investor programs is not up to mark as the provisions of these schemes have become almost redundant and fail to address the current issues. The present IIP scheme involves fund retention for a period of 5 years. The funds transferred to the government by migrant individuals must be returned to them after the maturity period. This prevents the authorities from parking money into those high risk venues, which promise higher returns in terms of more jobs and increased profitability.
The recent studies conducted to assess the effectiveness of the current format of the business Immigration revealed several other anomalies in the performance. The most prominent of these drawbacks included, incompatible linguistic skills of investing individuals and the business owners, and inability of the business immigrants to contribute to the productivity of the local economy.
Besides the redundant provisions and the lack of efficient performance, the existing schemes are currently plagued by a huge pile-up of more than 65000 applications. These factors are cumulatively hampering the efficient functioning of Canada business migration schemes.
In order to deal with the pending applications and to remove the hurdles posed by defunct provisions of business migration schemes, the authorities are all set to replace older versions with more competent Canada Immigration business programs capable of bringing around more advantages for the local economy.
The Canadian government will return all the pending applications and it will incorporate large scale Changes In Canada Immigration Entrepreneur & Investor Visa. The proposed scheme will supersede the existing framework and will work simultaneously with recently launched business owner Start up scheme. These changes will help the Maple country to retain a competitive edge over the global players and also reap richer benefits for the local economy.
