It’s never too early to think about retirement. Planning for retirement as early as possible can help ensure a comfortable and cozy life in retirement. And one of the things you should consider is where you want to retire.
Many people choose to retire somewhere other than where they are currently residing. Others even go as far as immigrating to a different country or continent because they feel that the quality of life would be much better there.
That is what many people wishing to retire in Canada are thinking. However, before you can retire in Canada, you first have to know how to prepare for it.
Why Is Canada a Desirable Place to Retire?
If you’re still on the fence about where you plan to settle down in retirement, you may want to consider Canada as an option. Many people want to move to Canada because it is regarded as one of the best places to immigrate.
For younger people, Canada is an excellent place to move to because it offers so many opportunities in education, job employment, and even personal growth. But what can Canada offer those that are just wishing to live comfortably in retirement?
Well, for one, Canada has an excellent public health care system. As you grow older, your chances of getting ill or injured can increase. So, you may find yourself making frequent trips to the hospital. This can be costly, especially if you live in a country without universal health care. However, if you’re a permanent resident in Canada, you don’t have to pay for most health services, and you can even get free emergency medical services.
The cost of living is also often lower in Canada. While it may not be as low as what you see in developing countries, it’s definitely lower compared to the United States. Crime rates are also lower in Canada, so you can have a less stressful and more peaceful retirement.
What Are Canada’s Views on Immigration?
Since Canada is at the top of many people’s lists, it can be quite challenging to immigrate to Canada. And it doesn’t help that the Canadian government can be strict about inviting people to live in the country.
However, Canada is planning to accept over 1.2 million immigrants by 2023. The main reason for this is to improve the economy. So, they will prioritize young and skilled workers and professionals. While retirees are still welcome to immigrate, the chances are lower.
How to Retire in Canada?
If you’re a young professional thinking about building a life in Canada and retiring there, you still have a pretty good chance, especially if your industry has many job opportunities in Canada. If you’re still a student, it may be best to consider specializing in a field that the Canadian government prioritizes in terms of immigration.
For older adults with lower chances of immigrating to Canada, there is a temporary option for retirement. If you have children or grandchildren living in Canada, you can apply for a multi-entry visa. This allows you to stay in the country for up to two years and make multiple visits to your family members within a 10-year period.
If you’re really gunning for full-time immigration, the Canadian government first needs to check your eligibility. This is so that they’ll know what your plans are in Canada. You can contact a Regulated Canadian Immigration Consultant (RCIC) to see if you are eligible.
Canada is a desirable place to retire due to its quality of life and good health care system. However, if you wish to retire in Canada, it’s best to plan early as immigrating when you’re older can be more difficult. But if you’re already nearing the age of retirement, you may get in touch with a Canada immigration agency to determine if you are eligible for immigration.
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