Canada is among the top 10 countries expected to see a positive influx of million immigrants this year, according to the latest Henley Global Citizens Report. Canada is expected to see a positive influx of about 1,000 high net worth (HNWI) people expected to come mainly from Russia (-15,000), China (-10,000), India (-8,000), Hong Kong (-3,000). ) and Ukraine (-2,800), according to immigration consultants Henley and Partners in their second quarterly 2022 migration report. Canada ranks ninth as a favorite destination, while the top three destinations are: United Arab Emirates (4,000), Australia (3,500) and Singapore (2,800). Henley describes a private-sector “tsunami” leaving Russia and Ukraine as immigration to Hong Kong remains high amid authoritarian repression by Beijing proxies – though down 29% from 2019. Meanwhile , China’s lockdowns on COVID-19 pandemic spark immigration boom Globally, the rich are moving more and more, according to Henley, and by 2023 a record is expected to be broken. In 2013, about 51,000 HNWIs moved countries and that number jumped to 110,000 in 2019. Immigration fell to 12,000 in 2020 due to pandemic restrictions until it reached a forecast of 88,000 this year and an expected record. Over the next decade, Canada is projected to see a 30% increase in HNWI’s total population, the report said. It ranks fourth among the 10 richest countries (average net worth), after India (80%), Australia (60%) and China (50%). Canada’s major cities – Montreal, Toronto, Calgary and Vancouver – are the most popular destinations for these immigrants, according to Henley. “Many affluent people who have seen their movements severely curtailed during the pandemic realize the importance of diversifying their wealth and investments and improving their lifestyle choices. “Increasingly, they are looking for more flexibility and want to better manage the risks in the event of a future pandemic, geopolitical crisis or other situation that could affect them and their country of residence,” said Henley. The report notes that this continued influx will occur despite the Canadian government considering new ways to tax wealth and luxury goods to pay off pandemic-related debt. An important factor in the continuing rise is Canada’s growing interest in increasing the number of immigrants, the report said. The federal government has planned 431,645 new permanent residents in 2022, 447,055 in 2023 and 451,000 in 2024, with almost 60% of those entering the “economy class”. Henley says the richest may be aiming for the country’s startup visa program. Canada no longer has an immigrant investor program. Under the program, immigrant investors were able to obtain citizenship for a five-year $ 800,000 loan to the government, but were not required to set a specific income level. The government found that it provided a “small financial benefit” and disbanded it in 2014. These home-based immigrant investors now report a total average family income of $ 50,000, as opposed to federally skilled workers at $ 105,000 and refugees at $ 85,000, according to Statistics Canada. A similar provincial program in Quebec has been suspended until at least April 2023. To make its report estimates, Henley states that it monitors 150,000 anonymously wealthy people in a database covering 62 countries and bases its estimates on their movements and spending habits, as well as on state immigration data, real estate transactions and economic analysis. [email protected]
