Canada Attracts Investors while the World Economic Forum Rank its Banks the Soundest

The World Economic Forum has ranked Canada and its banking system as the ‘soundest in the world’ once again. Canada now hopes to attract foreign investors to obtain a permanent residence while they also help its economy to flourish further. The members of the Forum also voted Canada for giving the new immigrants enough ease to start their own businesses.

As obtaining a PR in Canada is always good news among Asian immigrants, this new option would be well accepted among wealthy Asians. The South Asia Mail quoted that the Immigrant Investor Program which would allow the rich people to get a Canadian visa if they invested in the Canadian economy in anyway would be a great option for them. People could invest by starting their own businesses or already established businesses besides they could also gain a PR status in Canada.

There are many advantages for people who wish to immigrate under the immigrant investor plan. The new immigrants along with many benefits would get a five year tax ‘holiday’ with a secured and permanent residency. Well-off business people hoping to take advantage of this category of Canadian Business Immigration can either seek their Canadian visa through the Federal Investor Program or the Quebec Investor Program. For both programs visa applicants are required to hold a net worth of CA$800,000 and must make a government guaranteed investment of CA$400,000. The sum is returned to the applicant, without interest, after five years.

The report by the World Economic Forum also cited that Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia. UK, which had the top most position last year, has slipped to 44th place after El Salvador and Peru, while USA ranked 40th position in the charts. The Global Competitiveness Report by The World Economic Forum based its findings on many opinions by executives and handed banks a score between 1 and 7 ranging from low to highest respectively.

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