Canada Boosts Funding To Help Skilled Immigrants From India, China & Philippines

Canada is pumping millions of more dollars to make it easier and faster for Indians immigrating to Canada to settle down professionally and personally in their new country.

Under a new plan unveiled, 15 million dollars will be spent to expand the current foreign credentials recognition and labour market programmes offered by the Canadian government in New Delhi, Manila and Guangzhou in China.

Canada’s federal minister for Citizenship and Immigration, Jason Kenney, says the new funding will help more would-be immigrants from these three countries to jump-start their professional lives in their new country by starting the process to have their qualifications recognised even before they leave their home countries.

The money will go to the Canadian Immigration Integration Project (CIIP), which is run by the Association of Canadian Community Colleagues (ACCC). The Integration Project began its services on a pilot basis in 2007, and so far more than 7,000 have gone through  its pilot programmes.

According to Canadian officials, the three offices, along with a soon-to-be opened office in London to offer services to Nordic and Arab countries, will offer services to more than 70% of the immigrants selected under Canada’s federally run skilled workers immigration programme. Furthermore, it will also offer services to more than 40 percent of immigrants selected under the country’s provincial nominees programme.

The free sessions offered by the Project include labour market information, individual advice and planning and the referral to the various services available at the federal and provincial levels. There will also be on-line tools for a number of issues, including help immigrants begin their licensure process even before they arrive.

Furthermore, as not everyone would be able to access the services in person, the ministry has developed an online version, and this can be accessed at www.credentials.gc.ca.

The new funding is an acknowledgement that the Canadian government has taken seriously the concerns raised by skilled immigrants and settlement groups who say one of their biggest challenges is to have foreign credentials recognised.

More Money, New Deals To Help Immigrants

Canadian government has already allocated 50 million dollars over a two-year programme to develop a common national approach towards recognition of foreign credentials.

There has also been a Pan-Canadian Framework for the Assessment and Recognition of Foreign Qualifications deal between the federal provincial and territorial governments to facilitate faster recognition of foreign credentials.

Under the programme, a skilled immigrant will know within a year of applying whether or not his or her credentials be recognised here, and to what level.

Basics of Housing Mortgages

The Canadian government has announced tightening of mortgage and financing rules beginning April 19th. The government has though declined to consider reducing the current maximum amortization period of 35 years and the minimum down payment of five percent of the value of the house.

Here are some basic pointers to the different types of mortgages available in Canada.

Mortgages can be in general classified into two types;

  • Fixed Rate Mortgage (FRM):

These are closed mortgages. Interest rate is fixed for specific term (for example, five years) and you cannot end it beforehand without paying a penalty.

Advantage: you will know the amount of interest and principal you would be paying for the term.  Even if the interest rate rises you mortgage interest rate will remain same until end of the term.

Disadvantage: If the interest rate goes down, as it has been over the past few quarters, you will not benefit as your interest rate is locked for a fixed term.

  • Variable Rate Mortgage (VRM):

Here, the interest rate is pegged to prime rate. If prime rate changes your mortgage interest rate will change accordingly. Your payment amount remains same but interest component of the payment will change.

VRM can be further divided into two sub-categories.

Closed VRM:

Interest rate is variable for the term. But you cannot collapse before the end of term unless you pay penalty.

Advantage: If interest rate drops your mortgage amount will drop too. The interest portion of your payment will be less and you will pay more towards principal.

Disadvantage: If the interest rate goes up your mortgage amount will also go up and you cannot collapse the mortgage. If this happens interest rate of your payment will be more and you will be paying less towards principal.

Open VRM:

Interest rate is variable and it is not locked for the term. You can pay off the mortgage any time.

Advantage: If interest rate drops your mortgage rate will also drop. The interest portion of your payment will be less and you will pay more towards principal. If you feel the interest rate is going to rise, or if the interest rate has gone up, then you can convert it to a fixed closed mortgage without any penalty.

Disadvantage: Interest rate for these types of mortgages is usually higher than other two.

Canada Opens Doors To Indian Students

Canada welcomes India’s higher education students.

This is basically the message the Canadian federal government and the various provincial governments are trying to impart to Indians wanting to go abroad for higher studies.

And towards this end, Canada has implemented a number of strategies, including promoting community colleges, where the costs can be lower than universities but whose degrees are recognised throughout the country, and a fast-track system to process ‘genuine’ visa applications.

And just recently, Jean Charest, the Premier of the French province of Quebec, announced in India that foreign students who complete higher studies in his province will be given a Certificate of Selection which in effect will put them on a fast track to obtaining Canadian citizenship.

At present, one has to have lived at least 1095 continuous days in Canada with permanent residence status to be able to apply for Canadian citizenship. Each day spent in Canada legally but without a permanent residence (for example, with a student permit) will be counted as half a day.

The new Quebec system came into effect Feb 14, and will be valid only for those who have completed bachelors, masters or doctoral studies.

Quebec officials hope this accelerated path to Canadian citizenship will attract more Indian students to their province. Quebec officials say that at present about 4,000 of the 25,000 foreign students in the province are from India.

The Quebec move is part of a major offensive launched by Canadian educational institutions and the government to attract more Indian students to Canada.

Fast Track System For Indian Students

While a number of educational institutions have signed bilateral projects with Indian counterparts, the Canadian government launched a major initiative early last year. Named the Student Partners Program, the program was launched last April between the Canadian visa offices in India and twenty members of the Association of Canadian Community Colleges (ACCC).

And in the first nine months, the program reported that the Canadian visa offices received more than four thousand applications, and that the approval rate has doubled. Furthermore, the processing time is also much faster, with the average of about two and half weeks.

Canadian officials feel that with the spate of attacks on Indian students in Australia, prospective students might be willing to consider Canada as an alternate location to pursue their studies.

According to one study done by the Canadian foreign affairs and international trade ministry, the foreign students sector contributed more than 6.5 billion dollars to Canadian economy in 2008.

Canada’s French Province Wants More Indian Students

Canada’s key French province of Quebec is on an offensive to attract more students from India and other nations.

The Quebec Premier Jean Charest made the announcement recently in India that foreign students who complete higher studies in his province will be given a Certificate of Selection which in effect will put them on a fast track to obtaining Canadian citizenship.

At present, one has to have lived at least 1095 continuous days in Canada with permanent residence status to be able to apply for Canadian citizenship. Each day spent in Canada legally but without a permanent residence (for example, with a student permit) will be counted as half a day.

The new Quebec system will come into effect Feb 14, and will be valid only for those who have completed bachelors, masters or doctoral studies.

Quebec officials hope this accelerated path to Canadian citizenship will attract more Indian students to their province. Quebec officials say that at present about 4,000 of the 25,000 foreign students in the province are from India.

The Quebec move is part of a major offensive launched by Canadian educational institutions and the government to attract more Indian students to Canada.

While a number of educational institutions have signed bilateral projects with Indian counterparts, the Canadian government launched a major initiative early last year. Named the Student Partners Program, the program was launched last April between the Canadian visa offices in India and twenty members of the Association of Canadian Community Colleges (ACCC).

And in the first nine months, the program reported that the Canadian visa offices received more than four thousand applications, and that the approval rate has doubled. Furthermore, the processing time is also much faster, with the average of about two and half weeks.

According to one study done by the Canadian foreign affairs and international trade ministry, the foreign students sector contributed more than 6.5 billion dollars to Canadian economy in 2008.

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