We know that in the aftermath of COVID-19, life is not going to be the same. The economic impact will be far reaching and long lasting. Many of us will have to give up our existing career or business/profession and look at starting afresh. Others may be thinking of taking break and living a quiet and quality life; perhaps immigrate to a new country. So you better start thinking and working on alternatives and have a plan B.
We have studied the impact of COVID- 19, and the measures taken by some of the leading countries in the world to revive their economy and protect jobs and businesses. We have also studied the immigration policies and programmes of these countries. Based on the same, we have identified the following four countries, amongst others, which we believe, are the best to immigrate.
Immigrate to Canada
Canada is fast becoming the most preferred destination for immigration for Indians, overtaking the USA. It’s a warm and welcoming approach towards immigrants and highly favourable immigration policy has been attracting people from all segments. These are students, skilled workers, entrepreneurs, etc.
Canadian Prime Minister Justin Trudeau announced a $82 billion stimulus package to protect jobs and businesses from the impact of COVID-19. These measures will go a long way in ensuring that businesses survive and thrive, and jobs remain available.
Despite the lockdown since mid-March, Canada’s immigration system remains operational; the immigration draws have continued both at federal as well as provincial level. This shows how important immigration is to Canada.
However, there’s the need to protect existing jobs and create new ones. Therefore, the Entrepreneur stream of immigration is likely to get more preference over the jobs stream. Under the Entrepreneur stream, one can invest $100,000 and above in setting up a new business in Canada. This will lead to permanent residency and ultimately Canadian citizenship. Many Indian investors have already moved to Canada under this programme.
This Entrepreneur stream could be your gateway to starting a new life in Canada.
Immigrate to Portugal
Portugal has been one lucky country in Europe to remain relatively less impacted by COVID-19. However, more than luck, it is the quick action high response government has taken; it has helped Portugal contain the spread of coronavirus pandemic and its after-effects.
Located in the southwestern tip of Europe, along the Atlantic, Portugal has been one of the best places to live in Europe. It has warm and sunny weather and a long coastline dotted with beautiful beaches and breath-taking landscape. So it has been attracting people from all over the world. All these, along with its friendly people and low cost of living make it a perfect place to retire and enjoy a quality life.
Portugal’s Golden Visa programme has been one of the most popular European immigration programmes since its introduction in 2012. It is one of the most flexible programmes which help you plan your immigration to Europe in the future while continuing to stay in your own country. By spending just 7 days in Portugal in a year for five years, you become eligible for citizenship and ultimately right to live work and study in any of the 27 European Union countries.
The Portugal Golden Visa could be your gateway to enjoying a stable, secure, and quality life in Europe.
Immigrate to the U.S.
The “America Dream” seems to have lost its shine as the US is no longer the most preferred immigration destination for the Indians, at least in the short run. This is mainly due to the twin effect of the negative publicity due to the handling of the COVID-19 and the uncertainty due to all the noise around the immigration ban announced by Donald Trump. (read our earlier article here Trump’s Immigration Ban).
However, the US continues to be the biggest and the most resilient economy and is likely to bounce back much faster than most of the other world economies (remember the bounce back after the financial crises in 2009).
For those having long term plans for the US, specially for business expansion/diversification, the current situation provides a perfect opportunity to take the first step to make inroads. Distress sales opportunity are aplenty, and funds are available at extremely low cost.
The best way to capitalise on this opportunity is through L1 A visa. It is an Inter-Company Transfer visa which allows businesses in India to transfer their senior executives as well as business owners to the US for the purpose of exploring business opportunities. The low cost and investment commitment associated with it is the most attractive feature of this visa, specially in the current situation. However, there are a lot of conditions attached to this Visa and not all businesses can qualify.
Australia continues to be among the favourite immigration destinations. Like Canada, Australia’s immigration programmes are competitive, and points driven, tailored to suit the country’s specific requirements. Broadly, there are two categories — Skilled Workers and Investors. Given the current situation, most countries are trying to protect jobs. As a result, the intake under the skilled workers programme is likely to be limited. The Investors programme on the other hand, will see a surge in interest. However, the high investment amount coupled with the low approval rates could act as barriers.