Potential expatriates looking to settle in Canada will face more difficult qualifying laws, as the country's government looks to tighten up immigration.
Both the Immigrant Investor Program (IIP) and Federal Entrepreneur (EN) Program are to be scrapped, meaning those waiting for a working visa under these schemes will find their applications won't be processed.
The Canadian government hopes to attract more entrepreneurs instead, so they can inject investment capital into the nation's economy, reports Pars Herald.
It comes after a review that found many of the expats currently starting a new life in the country do not speak English or French to the standard required.
Further to this, it was discovered that many lack key skills and do not integrate into the community upon arrival.
The research also uncovered the fact that investors from abroad pay less tax than local business professionals and tend to return home after a period.
With an increasingly aging population, the authorities in Canada hope to attract expats with good business skills and appropriate experience to take on the jobs that are being vacated.
In order to do this, a new set of schemes will be piloted to replace the programmes that are to be scrapped.
Chris Alexander, citizen and immigration minister, told the news provider: "Canada wants to welcome experienced business people who can raise investment capital that will contribute to our economic success over the long term."
Despite being choosier, Canada needs to prove that its programmes are competitive against similar nations, otherwise it risks losing out on top talent.
At present, the IIP alone has more than 65,000 people waiting for a response to their applications, which could grant them residency.
The government says that to process all of these that are already in the system it would take officials six years.
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