Intra-company transfers to Canada: Canada offers various pathways for running your business in Canada or for Investing in a Business in Canada. Intra-company transfers to Canada Visa is also an immigration Pathway for business owners who want to expand their existing business operations in Canada.
ICT visa Canada or Intra Company Transfer Visa Canada is a pathway under the International Mobility Program which helps eligible business owners from other countries to obtain a work permit by transferring their business to Canada.
This pathway will help you in getting a work permit which will help you in getting permanent residency in Canada. You can also include your family in the ICT visa application.
If granted the Visa, your spouse will get an open work permit, and your child will get a study permit.
ICT Visa Canada Advantages: There are many advantages of an ICT Visa. Some of the advantages are
- You can live and run your business in Canada.
- The family of the applicant will also get a visa.
- Dependent children are eligible to get free education in Canada.
- Spouse will get an open work permit.
- In ICT, no minimum investment is required.
- You are not required to physically present under an ICT visa.
- You can transfer your key employees to the Canada office from your home country.
- It is a program with fast processing.
- You can apply for permanent residency after fulfilling the requirements.
Who can apply for Intra Company Transfer (ICT) Program:
The Intra Company Transfer program was mainly designed for the expansion of business by well-established companies from all around the world. There are three types of individual categories who can apply under the Intra Company Transfer program:
- The first category involves business owners, shareholders with executive positions in successful companies and entrepreneurs who intend to work in a similar field as their home country.
- The second category involves individuals who are working in foreign companies in the position of senior managers or functional managers. They should be willing to come to Canada to work in the same position.
- The third category includes the Key employees. These employees should have advanced specialized knowledge that is unique or uncommon about the business.
The individuals under these categories should also meet the other eligibility criterias to be able to apply for an ICT visa in Canada.
Requirements for Intra-company transfers to Canada:
The Intra Company Transfers have several requirements for all the categories. Entrepreneurs who are successful in their businesses can apply for an ICT work permit for the expansion of their business in Canada. These individuals must have:
- The company in the home country must be in operation for at least 3 years before entering Canada for expansion.
- The financial conditions of your company in your home country must be sound and stable and should be capable of supporting the functions of your expanded company in Canada.
- The applicant must be working in the same company in the home country for a minimum of one year in the past three years before applying for the ICT visa.
- The company in the Home country should be related to the company in Canada as a parent, affiliate or subsidiary company.
- The company in Canada should generate permanent full-time jobs for Canadian permanent residents or citizens and should be a viable enterprise.
In the case of a foreign company’s initial expansion in Canada, the immigration officers are also required to check the following:
- Whether the business plan is sound which should be able to demonstrate the Viability of Canadian operations. Also, it should be able to generate revenue which should be enough for covering the costs and compensations (if required) of the company.
- Will the expansion of the company be able to generate permanent full-time jobs for Canadians?
- Will an executive or manager be required by the company according to its size?
Thus for the first ICT application, the companies are required to make successful in operations and expansions so that they will be able to hire Canadians as staff members in the company. Therefore the employees are required to meet the required eligibility criteria.
Investment for Intra-Company Transfer:
There is no minimum investment set by the Canadian government for ICT. however, the company should be financially sound. The company should be able to support the new operations in Canada and should hire local staff.
So the companies are required to have a gross sale which should be exceeding $250,000 per year and the liquid fund amount should be a minimum of $100,000 which should be accessible to cover the costs of the initial year’s expenses.
In addition to these initial funds, the applicants should be able to show proof of access to additional funds or assets for supporting the business in case the business was not able to reach self-sufficiency by the end of the first year.
Apply for Intra-Company Transfer: After checking the eligibility criteria, the next step is to apply for an ICT visa in Canada. To apply for ICT follow the steps below:
- The first step is to register your Canadian company as a parent, affiliate or subsidiary company of your company in your home country.
- The next step is to prepare a detailed business plan including the proposed business activities, market research for your business and also the ways to make your business profitable. Also include the financial information regarding how you plan to fund your business for the next 2 to 3 years and what is the plan regarding hiring new staff.
- Gather all the required documents regarding business including bank statements, investment proofs and incorporation articles to start preparing for the work permit application.
- Submit your application with all documents and wait for the result of your application.
Note: The application process varies according to your country of origin.
Intra-Company Transfer Visa Processing Time:
The processing time varies according to the country. However, the general processing time is between 3 to 6 months. For specific times in your country, you can check on the IRCC official website.
Intra-Company Transfer (ICT) Work Permit Duration:
Different categories have different durations of visas for ICT work permits. The general duration of an ICT work permit is 1-2 years.
For startup: 1 year
For visa-exempt countries: 3 years
For specialised knowledge workers: 5 years
For executives & managers: 7 years.
Summary:
- Under the International Mobility Program
- No minimum investment
- Fast processing
- Business owners/manager/ specialists
- Family inclusion, work/study permits
- Open work permit for spouse
