As Canada updates its permanent residence application fees on April 30, 2024, it's crucial for aspiring immigrants to understand the changes and plan accordingly. Discover how these fee increases will affect your journey to permanent residence in Canada.
1. Top Story: Canada's Immigration Fees Set to Rise on April 30, 2024
On April 30, 2024, Immigration, Refugees and Citizenship Canada (IRCC) will increase fees for all permanent residence applications as part of a regular update to manage rising program costs and keep pace with inflation.
Key Takeaways
- Skilled worker fees will rise from $869 CAD to $895 CAD.
- Fees for accompanying family members will increase from $186 CAD to $192 CAD.
- Fees for business immigrants (investors) will increase from $16,874 CAD to $17,380 CAD.
Canada's Two-Year Immigration Fee Hike Cycle
In 2020, IRCC announced that permanent residence fees would increase every two years to adjust for inflation. This policy was implemented after fees had remained unchanged since 2002. The upcoming 2024 fee hike is part of this regular update to ensure fees keep pace with the rising costs of delivering immigration programs and services.
Are Canada's Immigration Fee Increases Outpacing Inflation?
The immigration fee increases in Canada are outpacing inflation. For example, the fees for business immigrants (investors) are rising from $16,874 CAD to $17,380 CAD, a 3.04% increase. In comparison, Canada's inflation rate over the past year was 2.9%. It's important to note that immigration fees have not increased since 2002, and the 2024 increase aims to account for inflation since then.
What this means for immigrants
The rising immigration fees will have a financial impact on those seeking permanent residence in Canada. Applicants will need to budget for these higher costs when planning their move. The fee increases are part of a transparent, predictable process that allows applicants to prepare for these expenses in advance.
Despite the higher fees, Canada remains an attractive destination for immigrants due to its strong economy, high quality of life, and welcoming multicultural society.
2. Prince Edward Island's Focus: Need to Slow Immigration Amid Strained Services
As Prince Edward Island's population growth puts pressure on healthcare and housing, calls are mounting for the provincial government to ease immigration programs, allowing services to catch up with the increasing demand.
- P.E.I.'s population grew at an annual rate of 4%, reaching 175,853 as of Oct. 1, 2023.
- The province has the tightest rental market in Canada, with an apartment vacancy rate below 1%.
- Ottawa's allocation of permanent resident nominations to P.E.I. increased by 92% from 1,070 in 2018 to 2,050 in 2023.
3. Success Snapshot: Stan Bharti, From Punjab to Philanthropy
Born and raised in Punjab, India, Stan Bharti established himself in Canada as a businessman and entrepreneur, founding Forbes & Manhattan. He's known for his significant contributions to society and the greater good, including support for the Canadian Olympic 4×100 meter relay team.
