In a recent report by Henley & Partners, Canada has proudly secured a position among the top 5 destinations for millionaire migrants in 2024. This country remains a very popular destination for wealthy immigrants — particularly those originally from Europe and Asia.
The Canadian millionaire population has increased by 29% in the last decade. This recognition highlights the country’s appeal to wealthy individuals seeking new opportunities with a favorable immigration policies, strong economy and high quality of life.
Favourable immigration policies
The Start-up Visa (SUV) program has played a key role in this trend by attracting entrepreneurial talent from around the world to Canada. Launched in 2013, the program provides a pathway to permanent residency for entrepreneurs with innovative business ideas, providing them with access to Canadian venture capital and angel investor networks. The program is particularly attractive to millionaire immigrants, who contribute to Canada’s growing startup ecosystem.
Additionally, initiatives such as the Provincial Nominee Program or the Federal Skilled Worker Program are part of Canada’s broader immigration strategy to attract wealthy and skilled immigrants. The influx of millionaire immigrants is driving increased real estate investment in major cities such as Toronto and Vancouver and contributing to job creation and economic growth across a range of sectors.
These settlement patterns reflect Canada’s economic health, political stability and global competitiveness. Millionaires are drawn to Canada for personal financial security and the opportunity to invest and expand their businesses. Canada’s appeal is further enhanced by its strong economy, high standard of living and access to international markets, particularly through trade agreements with the United States.
High Quality of Life
Canada regularly ranks high in global quality of life indices, making it an attractive choice for wealthy individuals and their families. Cities such as Toronto, Vancouver and Montreal offer a combination of urban convenience and natural beauty, low crime rates and a high standard of living. This combination ensures that newcomers can enjoy a prosperous and enriching lifestyle.
Moreover, for families considering settling in a new land, Canada’s education and healthcare systems are particularly strong draws. The country is home to many world-class universities and colleges, providing excellent educational opportunities for children. Additionally, Canada’s public health system ensures that all residents have access to essential health services, improving the quality of life for the entire family.
