Canada’s approach to immigration has shifted noticeably in recent years, moving from a period of rapid expansion toward a more controlled, stabilized intake. For anyone planning a move, that shift changes the practical picture considerably. Here’s what relocating to Canada actually involves heading into 2026.

Immigration Pathways and Current Targets

Canada’s 2026-2028 Immigration Levels Plan targets 380,000 new permanent residents annually across all three years, a stabilization compared to the rapid growth of previous years, with economic immigration making up the majority of admissions. Express Entry, the federal system covering skilled worker programs, is allocated roughly 109,000 spots in 2026, while the Provincial Nominee Program, which lets individual provinces nominate candidates matching their specific labor needs, is allocated around 91,500. Family reunification and refugee and protected person categories make up most of the remainder. Notably, temporary resident numbers, international students and temporary foreign workers, are being cut sharply, international student admissions are targeted at 155,000 for 2026, nearly half of recent years’ levels, as part of a broader push to reduce Canada’s temporary resident population.

Express Entry and Provincial Nominee Programs

Express Entry uses a points-based Comprehensive Ranking System factoring in age, education, work experience, and language proficiency in English or French, with periodic draws inviting top-ranked candidates to apply for permanent residence. Provincial Nominee Programs let individual provinces select candidates for their specific economic needs, often making it a more accessible route for candidates with lower Express Entry scores but in-demand skills or a specific province’s labor market connection. With Express Entry allocations essentially flat year over year and overall immigration levels stabilized rather than growing, competition for available spots remains significant, making a strong, current profile, and often a provincial nomination, more important than in looser immigration years.

Housing: Canada’s Foreign Buyer Ban

Canada’s ban on most foreign nationals purchasing residential property in census metropolitan and agglomeration areas remains in effect through January 1, 2027, and is under government review for potential easing afterward. Important exemptions exist: work permit holders with at least 183 days of validity remaining can purchase one property, international students meeting specific tax-filing and residency history requirements can buy property under CAD $500,000, and refugees, protected persons, and spouses of Canadian citizens or permanent residents are generally exempt. New arrivals who don’t fall into an exemption category should plan to rent initially, which is the default approach for most newcomers regardless of the ban, since establishing Canadian credit history typically takes time anyway.

Cost of Living by Region

Costs vary enormously by province and city. Toronto and Vancouver remain Canada’s most expensive major cities for both rent and general cost of living, while cities like Calgary, Edmonton, Winnipeg, and most of Atlantic Canada offer meaningfully lower housing costs alongside generally lower, though still competitive, salaries. Quebec operates its own separate immigration system for economic immigrants, with its own language and selection requirements distinct from the federal process, worth understanding specifically if Quebec is a target destination. Researching regional cost differences before committing to a specific city, rather than assuming national averages apply everywhere, is worth the time given how much variation exists across the country.

Banking and Building Credit

Most major Canadian banks (RBC, TD, Scotiabank, CIBC, and BMO) offer newcomer banking packages aimed specifically at new permanent residents and work permit holders, typically waiving monthly fees for the first year and not requiring a Canadian credit history to open an account. A Social Insurance Number (SIN) is required before starting any job in Canada and is usually one of the first things to arrange after arrival. Credit history doesn’t transfer from another country, so most newcomers start with a secured credit card or a newcomer credit product to begin building a Canadian credit score, which affects everything from apartment applications to phone plans and eventually a mortgage.

Healthcare and Settling In Canada

Canada’s public healthcare system is administered provincially, and most provinces have a waiting period, often around three months, before new permanent residents are covered, making private health insurance for that initial window worth arranging in advance. Opening a Canadian bank account, applying for a Social Insurance Number (required to work and access government services), and starting to build Canadian credit history are typically the first practical steps after arrival, and several banks offer newcomer-specific account packages designed to ease this transition.

Arriving Prepared, Not Just Approved

Relocating to Canada in the current environment means navigating a more selective, stabilized immigration system than in recent years of rapid growth, along with a foreign property buyer ban that affects most non-exempt newcomers’ housing plans in the near term. Confirm current immigration levels, program allocations, and ban status directly through official Canadian government sources before planning a move, since all three are actively reviewed on a rolling basis, and budget regional cost differences carefully rather than assuming a single national cost-of-living figure applies to your destination city.