HOT TOPIC


New opportunities While the low oil price presents a gloomy outlook for segments of the Canadian economy and mobility sector, it brings opportunities elsewhere. Paul Coleman points out that the low


price of oil drives down the value of the Canadian dollar, which, in turn, makes Canadian exports much more competitive. “The non-oil-based industries, producers, sellers of


manufacturing


international commoditised products, and the people who are collecting US dollars, which is most Canadian operations – if you sell on the international markets, then you collect in US dollars and your operating base is Canadian dollars – have seen their operating costs go down, relatively speaking, and their revenues go up, because they’re selling products in a stronger dollar unit. Cities like Montreal are experiencing an unprecedented boom.” For the mobility sector in particular,


Cindy Mulhall says, opportunities will spin out of changes to the way in which companies move talent around. “I think the growth areas will be around


was work being done by the CERC, and in particular its president, Stephen Cryne, to address these issues, but there was a change to the set of requirements for getting foreign hires into Canada nonetheless. Mike Wilson, a Regulated Canadian Immigration


Consultant for Canada Immigration Solutions, says, “Hiring or transferring temporary workers to Canada has undergone wholesale changes during the past year, with the clear demarcation of foreign worker recruitment as either requiring a Labour Market Impact Assessment (LMIA) or, increasingly, entrance through an LMIA-exempt International Mobility Program.” He notes, however, that it’s not all bad news. “While LMIAs


appear fraught with delays, refusals and prohibitive costs, International Mobility Programs, such as Canadian Interests, the North American Free Trade Agreement (NAFTA) and the General Agreement on Trade in Services (GATS), have doubled foreign-national LMIA-exempt numbers over the last ten years. “These programmes are aimed at providing economic


and cultural benef its for Canada, and are based largely on reciprocity. Additionally, most work permits are generally ‘open’, giving more freedom of mobility to foreign workers. “Recent changes mean that employers hiring through the


International Mobility Programs now benef it from a direct online portal to Citizenship and Immigration Canada, the government body that deals with immigration matters.” With the recent change of government, however, the future


for temporary foreign workers is up for grabs. “We don’t know what decisions they’re going to make from an immigration perspective,” Cindy Mulhall says. For now, it’s a waiting game as the new government builds relationships with business and organisations such as the CERC so policy can be worked out.


the increased business travel as companies wrap their heads around what that means and what the tax implications are,” she explains.


“Tax advisers are going to have to be a little more savvy and aware of the differences between the tax regimes and how the treaties work. “There are plenty of organisations that do that, but they typically


do it from the perspective of expat assignments. So when you have individuals who are travelling a lot and maybe their personal tax adviser doesn’t understand the differences, they’re going to be having a huge tax impact and paying dual taxes.” There will be scope for new technology to play a role. “I believe


that there are going to be opportunities for companies to build mobile apps to help businesses track individual travel and see where it’s going to be triggering an event, like how many days someone has been in the country, where it’s getting close to that dollar threshold,” says Cindy Mulhall. Looking a little further ahead, she adds, “I think that, when the


industry picks up, there’s going to be a huge need for temporary accommodation. Just before everything crashed, companies were doing oil drilling in remote locations, and they just don’t have the resources there to support the individuals and their families. “There will be a need for people to help find things, or even


set up mobile infrastructure and facilities, bringing in trailers and setting up communities.” Despite the slowdown, Ms Mulhall says, “There are some groups


that are picking up. It generates opportunities to create small businesses when people are losing their jobs and they have that expertise to become consultants, or to help in underserved niches.” So, while the problems presented to Canada by the low oil


price won’t go away overnight, there’s more to the country’s economy and mobility sector than the energy sector.


For more on Canadian industries on the rise, see our articles on the videogames (p10) and tech (p12) sectors.


8 | Re:locate | Canada Spring 2016


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