Canada is regarded as one of the best countries globally for immigration since it provides excellent job and personal development.
Although everyone is aware that Canada is a large country, do you know that its population is relatively small? The population of the world’s largest metropolis, Tokyo, is nearly equal to that of Canada! More workers are always needed in Canada, and you may be one of them. But is it truly worth your time and effort to work in Canada? If you have a work permit visa in Canada, you can avail a decently salaried job with lots of perks.
In this post, we’ll unearth some of the lesser-known reasons why working in Canada is an intelligent decision.
HIGH RATE OF EMPLOYMENT
For the past ten years, Canada’s average unemployment rate has been 7.8%. During the recent decade, 92.2 percent of workers have been employed. Canada’s unemployment rate hasn’t risen beyond 10% in almost two decades. On top of it, immigrants make up around 25% of Canada’s total workforce.
Furthermore, according to Statistics Canada, one out of every three workers in Canada will be born outside of the country by 2031. This will create more employment, and more workers will be required to replace those who are retiring.
In addition, even in bad economic times, Canada has a solid financial infrastructure that can withstand market slumps and provide for its people. For example, like many other countries, Canada was affected by the 2008 recession, but it weathered the storm very well and recovered much quicker than other developed nations.
HIGH MINIMUM WAGE
Working in Canada with a work permit visa in Canada, also has the benefit of a very high minimum salary. Canada’s 13 provinces and territories determine its hourly wage, ranging from CAD 11.45 at the lowest to CAD 16.00 at the highest. The current average salary across all areas is CAD 13.44, but this is projected to rise as four provinces, including Ontario, raise wages.
So, what about income taxes, you might wonder. Even after accounting for all statutory deductions, Canada is the only Western Hemisphere country to rank among the top ten hourly wage earners worldwide. With a work permit visa in Canada, you can start applying for high paying jobs across various sectors.
All employed Canadians must participate in the Canada Pension Plan (CPP), a mandatory and contributory savings plan. Employees and employers will contribute 5.25 percent (5.7 percent in Quebec) up to the Year’s Maximum Pensionable Earnings (CAD 58,700 in 2020) beginning January 1, 2020. Citizens can access CPP income as early as 60 years old or defer until 70.
EXTEND OR RENEW VISA FOR CANADA AFTER FIVE YEARS OWING TO WORK PERMIT
Most permanent resident visas in Canada are helpful as a work permit visa in Canada for five years; however, others are only valid for one year. But there is no set restriction on how many times you can extend your visa status in Canada for the work permit. You can go through a Canada consultancy in Bangalore for further information on permits and how they work to avail these visas.
If you become a permanent resident, your family members will be able to live, study, and work in Canada as well. If you are 18 years of age, you may sponsor specific residents.
You are eligible for Canadian citizenship if you have physically lived in the nation for 1,095 days (three years) out of the five years. However, only the five years preceding the date you filed your citizenship application are deemed genuine. The cost of the entire application process for a Canada PR visa is approximately $1350.
AFFORDABLE COST OF LIVING
Canada’s cost of living is relatively low when compared to other wealthy countries. The country also has a low rate of crime, making it one of the safest places in the world to live.
|(Approximate cost, in CAD)||Canada||Australia||United States||United Kingdom|
|Total per month||$1750||$2153||$2215||$2335|