Decrease in CRS Points Requirement for Canadian Visa in October 18 Express Entry Draw

Slight Decrease in CRS Points Requirement in October 18 Express Entry Draw

The latest Express Entry draw for immigration to Canada has taken place, with 2,757 candidates in the pool invited to apply on October 18. The number of Comprehensive Ranking System (CRS) points required in order for a candidate to receive an Invitation to Apply (ITA) on this occasion was 436, down from the 438 required in the previous draw, which took place on October 4. Invited candidates now have 90 days to submit a complete application for Canadian permanent residence to Immigration, Refugees and Citizenship Canada (IRCC). Accompanying family members, including a spouse or common-law partner, as well as dependent children, may also come to Canada along with the principal applicant. The CRS cut-off threshold has been around the mid-430’s for the past six draws, though over this time there has been a slight dip in the number of ITAs issued per draw, compared to the size of draws that took place earlier in the year. The record low threshold of any draw so far was 413 on May 31 of this year, right before IRCC made improvements to the CRS that took effect on June 6. These changes introduced new additional points factors for candidates with a sibling in Canada, while candidates with French ability also benefited from additional points.

The total number of ITAs issued so far in 2017 now stands at 74,978, with 24 draws having taken place over this period. This total more than doubles the 28,409 ITAs issued over the first 24 draws of 2016, and also surpasses the total number of candidates invited in all of 2016.

*Note: Draws of May 26 invited provincial nominees with a minimum CRS score of 775, and candidates in the Federal Skilled Trades Class with a minimum score of 199.

Scenarios

The following hypothetical scenarios reflect the diversity of candidates who receive ITAs under the Express Entry system.

Lou is 35. He has a master’s degree, an initial advanced proficiency in English, and has been working as an electrical engineer for four years. He has never worked or studied in Canada. His CRS of 436 means that he has an ITA following the October 18 draw.

Lynn is 30, has a bachelor’s degree, and an advanced English language proficiency. She has been working for five years as a computer programmer but has never worked or studied in Canada. Her CRS of 436 means that she can now submit an application for permanent residence.

Shaun is 32, has bachelor’s degree, and has been working as a financial manager for three years. He wrote his IELTS and scored an 8 in each category. Shaun has never worked or studied in Canada, but does have a sister who is Canadian permanent resident living in Ontario. His CRS score of 437 would be sufficient to secure on ITA in the latest draw.

Serena is a 30-year-old married woman with three years of work experience in accounting. Both she and her spouse have completed a bachelor’s degree and advanced English, and neither partner has ever worked or studied in Canada. Her CRS score of 438 means that they can look forward to applying for permanent residence.

“IRCC continues to invite thousands of candidates in the pool to apply for permanent residence on a regular basis, as the latest draw shows. We are likely to find out soon just how many newcomers to Canada may arrive through Express Entry next year once the government unveils its new Immigration Levels Plan, which it scheduled to do within the next two weeks. The Minister of Immigration stated earlier this year stated that the current overall target of 300,000 new immigrants annually will form the ‘baseline’ target over the coming years. A higher target for Express Entry programs would result in either larger or more frequent draws, or both, thereby contributing to the possibility of decreased CRS thresholds over time,” says Attorney David Cohen.

“For individuals and families around the world who wish to make Canada their new home, it is imperative to assess your full options, beginning with evaluating your eligibility to enter the Express Entry pool.” 

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6 Months To Become A Millionaire. You Have 10 Ways To Make It Happen.

We have already exhausted half of the year but who says that it's too late to be a millionaire? It's still possible, and no, you don't need to win a jackpot to get there. The seven-figure mark is a milestone in the life of everyone, and the following tips should help you get there faster.

Channel your thoughts to increasing your earning

There has always been an emphasis on saving your way to wealth, but is that though still relevant in today's economy? Grant Cardone has an alternative view about the millionaire status. From debt at 21 to a millionaire by 30, Cardone was equivocal that in today’s economy, it is not practical to save your way to achieve the millionaire status. What is required is for you to find ways of increasing your income.

Amend your views about money

Whether you believe it is possible or not to become a millionaire, your opinion will never stop the possibility. Steve Siebold, a self-made millionaire, said that the journey towards wealth has to do with what you think about money. “The majority of the masses have the obnoxious believe that getting rich is out of their control but the rich see it as an inside job,” said Siebold.

Pay more attention to self-development

A millionaire at 22, Tucker Hughes, said that the safest place he ever invested was in his future.  Hughes’ routine included reading at least 30 minutes every day, assimilating useful podcasts while driving, and constantly being on the lookout for mentors. According to Hughes, you do not have to be a genius in your field. All you need is to be versatile enough to make useful contributions whenever any topic comes up. Your pursuit for knowledge should be put above everything else,” Hughes said.
Fun fact: Warren Buffett, who is listed as a billionaire, is estimated to spend 80 percent of his work hours reading.

Don’t underestimate the power of association

“Show me your friend, and I will tell who you are,” is a popular proverb. The power of association takes root in Napoleon Hill’s Mastermind principle. When you surround yourself with people that share your vision, it creates an exponential power that supersedes individual effort – this explains why the rich tend to be in the midst of each other. Siebold explains that exposure to people who are more successful than you are has a way of expanding your thinking.

Save to invest and not just for the sake of it

It's one or the other – you are a reckless spender or a dedicated saver. However, the only reason you should save should be to put it in another investment and not for the pleasure of simply watching the numbers grow. Grant Cardone advises that your saved money should be locked in a secure and sacred account where they cannot even be used for an emergency because that is the only way you will think about ways to earn more money.
Cardone said that investing is the “Holy Grail” to a millionaire status. Instead of saving for fun, let your money do the heavy work. Investment is structured in such a way that the more you put in, the more you'll get in return. Cardone recalled starting his first business with $50,000 – and the investment has constantly repaid him for the past ten years.

Build a good reputation

A lot of entrepreneurs out there lose the millionaire spot  — not because they do not have fantastic ideas — but because they lack soft skills. Mark Cuban, a billionaire, in an article published on Entrepreneur bluntly stated that people detest dealing with jerks. It may be a bit tricky trying to balance being a jerk and a pushover. This prompted Ally – who has also made it to the seven figures – to write, “No one can become a millionaire without knowing how to deal with people assertively.” You have to be prepared to face opposition from family and trusted friends. As an entrepreneur, you need to cooperate with your employees for them to give their best.

Flee from unnecessary debt

Grant Cardone said to be a millionaire you have to make it a rule that you will not take debt that won't make you money. Debt is a leverage used to increase investment and grow cash flow – and this is what people do. Too many people, on the other hand, are fond of using incurring debt in other things that only make them happy temporarily while further enriching the rich in the process. Thousands of wishes cannot make you a millionaire just like the exhilarating feeling you get riding in a rented car – which by the way increases your debt – will not make you rich. To be rich, you have to treat money like a jealous lover, writes Grant Cardone. Ignore it, and it will ignore you.

Don’t limit your ability to make money to particular hours or days

If you cannot outsmart your competitors, outwork them – your best bet is that there will always be someone out there that is smarter. Money does not have clocks and calendar, holidays and schedules – and you shouldn't either. Grant Cardone recounts how he used to stay up to 11 pm in the retail store where he worked making extra sales, despite the store officially closing at 7pm. No one will be more successful than the person with a high work ethics.

Millionaires know that taking risks is inevitable

Between the rich and the poor is a wide gap called risk. “While the poor get easily scared even by the word ‘risk,’ the rich know that taking risk is a matter of having faith in yourself, your ideas, and others,” Ally writes. To reach the seven-figure mark, many risks must be taken. There are times you have to make stringent decisions in your life without even having a vivid idea of where you are headed – you must leave your comfort zone. It is hard to achieve great heights when you start with little expectation. Take a look at the life of the wealthiest people on earth, and you will discover they all had big expectations and played to win.

Draft a financial plan

“Failure to plan is planning to fail,” a popular proverb opines that still stands in the way of many people from reaching the millionaire title till today. A financial plan has a way of spurring you to take action as well as guide you in making the right and crucial decisions. In planning for a financially secure future, two parameters are indispensable, “the amount of money you have to earn and the amount of money you spend,” writes Scott D. Hedgecock, a financial planner.  Hedgecock said that all financially successful people have the trait of drawing up a financial plan.
However, do not despise the importance of starting small. Kill the get-rich-quick mindset and avoid any scheme that promotes it. Be relentless in your zeal to achieve success. Avoid people that fill you with negativity like those who would look at your financial goal as stemming from greed. Seek for mentors and when you have reached your goal, be open to help others reach theirs too.

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