On 27 June 2023, the Honourable Sean Fraser, Minister of Immigration, Refugees and Citizenship Canada (IRCC) announced Canada's new Tech Talent Strategy, which introduces new measures and improvements to existing programs aimed at attracting and retaining tech talent in Canada. Canada's new Tech Talent Strategy contains six initiatives, all aimed at enhancing immigration pathways for highly specialized tech talent. These initiatives include (i) return of two-week processing for Global Skills Strategy (GSS) work permit applications for skilled foreign workers, employed in a Training, Education, Experience and Responsibilities (TEER) classification 0 and 1 occupations and two-week processing of Global Talent Stream Labour Market Impact Assessment applications; (ii) STEM-specific invitation rounds under the Express Entry program will begin on 5 July 2023. IRCC announced in May 2023, that they will start occupation-specific draws under the Express Entry system; (iii) introduction of a new temporary work permit stream for H-1B specialty occupation visa holders in the US to apply for an open work permit valid for three years in duration; (iv) creation of a new Innovation Stream is expected to be launched later in 2023; (v) launch of a digital nomad visa, which is available for foreign nationals, who want to work in Canada for a foreign employer for up to six months; and (vi) reduction of lengthy processing times under the Start-Up Visa program by increasing annual permanent resident (PR) quotas under the program and prioritizing certain applications

A Tax Alert prepared by EY Law LLP, and attached below, provides additional details.

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Full text of Tax Alert