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Canada Cap / Limit on Annual processing of applications announced.
The Federal Government has introduced a CAP on the new occupations that was released on 26th June 2010, which has come into effect from 1st July 2010. Once they have hit a specific target, the Federal Government will close the category, so there will be urgency to every application to increase chances of getting in before the "cap" is imposed.
The government is actually increasing its economic/skilled worker targets. However, the increased numbers will be more tightly managed. They have set a cap of 20,000 applications per year and limit each job category within the 29 occupations to a maximum of 1000 applications. Once any particular category has reached the 1000 target/cap, the occupation category will close. At the start of the new year (July – June) it may re-open again.
There are two caps/limits to be mindful of: (i) a cap of 1,000 per job category, and (ii) an overall cap of 20,000 in all categories. The cap may be increased later, because they plan to continue increases to the skilled worker category. However, they don't want to be overwhelmed in backlogged applications like they are now.
Since the new ministerial instructions the backlog of federal skilled worker applications has been reduced from 640,000 to 380,000 applications. Previously, it was taking up to six years to process Canadian skilled worker applications. Under the new system the majority of applications were processed in six to twelve months. However, the first quarter of 2010 has seen an increase in the number of applications that has resulted in processing delays.
If an applicant wishes to come under the skilled worker category they will either have to have a job offer or will have to come under one of the new 29 in-demand occupations. The 29 in-demand occupations were chosen after analysis of labour market information and discussions with provinces territories and others. If applying under the occupation list there will be a maximum of 20,000 applications per year. A maximum of 1,000 applications per occupation will be accepted. There will be no limit on the number of applications if you have a job offer.
Business Immigration Program - There is a moratorium on Investor applications while financial requirement are analyzed and increased. It is expected that will be raised from $400,000 investment to $800,000 investment.
Investment requirement - There is a significant increase in the investment requirements for the immigrant investor program. A personal net worth of $1.6M instead of $800,000. An investment requirement of $800,000 instead of $400,000.
Canadian Government feels that that the investment requirements are too low and have to be increased. The current system attracts more applicants than are required each year under this plan. This has resulted in an increase in processing time also.
Canadian immigrant investor applications will not be accepted until the new system is operational will not be accepting any more. This is to prevent the rush of applicants before the change in the requirements in the Immigration process.
If you are interested in immigration to Canada and would like to have further details of your prospects for immigration contact us now for an evaluation.
01 July 2010 Canada - New Occupation list effective from 1st July 2010