Indeed, individuals and families interested in moving to Canada have many choices when it comes to deciding where they want to live. However, those wanting to establish permanent residency in Canada or become full-fledged Canadian citizens must follow a basic set of rules and guidelines.
Gaining the Right to Live in Canada
Canada provides several avenues for priority handling of immigration applications. Skilled workers in select industries may immigrate via Express Entry, while those who are self-employed or are launching startups can also obtain express handling of immigrant applications. Provincial nominees and family members of people already living in Canada also enjoy expedited processing of their immigration applications.
The process for applying for permanent residency in Canada is lengthy, often requiring two years or longer before a decision is made even for expedited handling. Prospective residents must undergo a health examination and extensive background checks before obtaining permission to enter the country permanently.
Preparing for Entry into Canada
One important aspect of becoming a permanent resident is gathering the necessary paperwork and getting your financial affairs in order. The following list represents the essential documents all immigrants must have with them when they enter the country.
- Valid passport for each family member
- Canadian immigrant visa for each family member, if needed
- Confirmation of a permanent residence form for each family member
- Two copies of personal and household items brought into the country and their value
- Two copies of all items being shipped later and their value
Purchasing or Renting a Home in Canada
The cost of housing varies widely across Canada. Room rentals may cost as little as $300 monthly, while rent for an apartment or a house in an expensive market like Vancouver could run you $2,000 per month or more. The cost of purchasing a home also varies by province, with the highest prices found in Vancouver, which averaged more than $1 million in 2016. By contrast, home prices in St. John’s, New Brunswick, averaged a modest $155,000 that same year.
Most homebuyers in Canada finance their homes at least partially with mortgages from banks and other lending institutions. You might be asking, "What are the current mortgage rates in Canada?" As of October 2019, the lowest insured mortgage rates averaged between 2.6 percent and 2.8 percent. Meantime, interest rates averaged 2.7 percent for five-year fixed rate insured mortgages and 2.6 percent for five-year fixed rate uninsured mortgages.
Making the Move to Canada
While the process takes time and requires careful planning, many people manage the process of obtaining permanent residency in Canada every year. Taking the time to get paperwork and your financial affairs in order can help ensure the transition process is smooth.