There are several business immigration pathways to Canada. Intra-Company Transfer (ICT) is considered one of the best routes for business entrepreneurs who wish to expand their business operations to Canada. Read along to get familiar with the ICT program and its various facets, such as the requirements to get qualified, application procedures, advantages of the program, and the pathways to transition for a permanent residency.
Online Canadian Immigration Assessment FormICT is one of Canada’s international mobility programs that allow high-skilled foreign nationals to work temporarily as intra-company transferees in Canada. This mobility program also allows eligible and qualified business entrepreneurs to transfer or expand their business operations to Canada and obtain a work permit. With ICT, you can receive an ICT work permit and, eventually, a PR. In most cases, the spouse and children of the principal applicant will also obtain an open work permit and a study permit.
The Canadian ICT mobility program is created to attract and welcome reputable companies from across the globe to expand their business operations to Canada. There are fundamentally three categories of people who find ICT beneficial.
The immigration authorities will examine the following aspects if the foreign company is planning for an initial business expansion to Canada.
The Canadian government has not set any fixed minimum amount of money for companies trying to expand their business functions in Canada. The important thing is that the companies must be financially strong, have the required capital funds to support their new business operations, and hire local talent.
You can follow the below-mentioned steps if it is your first application.
The applicant must confirm that they are eligible for the ICT program. The applicant must collect and produce all the required documents for the ICT. Must have a solid strategy to present the case to the immigration authorities.
Usually, ICT work permits are issued for a period of One to Two years. The work permit’s validity will be One year if the applicant works in a startup company. Nationals from some of the visa-exempt countries can benefit from a three-year work permit.
The foreign national can apply for a PR through the Express Entry program after completing 1-year full-time employment in a Canadian company.
A startup is a business institution incorporated less than one year ago in Canada. So, a startup company cannot fulfill the terms and conditions like “must be actively and continuously be engaged in business to provide services or goods in Canada.” Profit & loss statements and annual reports are also yet to be available to prove consistent and routine business operations.
A startup company in Canada can be incorporated as a joint venture, sole proprietorship, partnership, trust, corporation, or another entity if it represents a foreign business. There are federal as well as applicable provincial laws in Canada. A startup can only be established under these laws. For instance, if there are two owners, i.e., 50/50 shareholders for a corporation in the USA, then the startup in Canada can be incorporated and owned 100% as a federal corporation by the USA-based corporation as it is a subsidiary /parent relationship. On the other hand, the same team of business owners or shareholders can own a startup in Canada in a similar proportion as an affiliated company’s relationship.
The registration should be extended to the province in Canada for a federal business corporation to start business operations. Only at the provincial level, every startup can be registered in Canada. The location and type of a company or business establishment are fundamentally determined by tax implications and the business activities they carry out.
Registration with Canada Revenue Agency CRA is essential for any business getting started in Canada. Apart from obtaining the CRA Business Number, the startup company in Canada might also require more than one other CRA account, such as Corporate Income Tax, Payroll, Goods & Services Tax, Harmonized Sales Tax, and Import and Export.
The preliminary activities of ICT in Canada must be promptly finished to be fully operational once the authorities approve it. In legal terms, the Canadian company will employ a transferee contingent to issue the ICT work permit. Another prerequisite for applying for the ICT work permit is to submit an online job offer via Employer Portal. This can only be done after registering as a company and having a linked CRA business number.
The initial steps of Canadian business registration do not need the presence of the business owners. Instead, it can be completed by competent business immigration lawyers.
The ICT work permit program is mainly for business owners, senior managers, and specialized knowledge employees. Other employees and middle-level managers cannot apply for an ICT work permit. In such cases, they will require a favourable Labour Market Assessment LMIA for working in a Canadian company.
There are other considerations for every category while planning for an employee transfer to a startup in Canada. It must demonstrate that the Canadian startup business/company operations are large enough to support management and executive functions while transferring senior managers, business owners, and executives. The size of a proposed business in the startup stage can be projected through a foolproof business plan that showcases a financial forecast, market overview, competitor analysis, and a comprehensive hiring plan for at least the next five years. The performance of the foreign business and the availability of financial resources in the former years also matter when it comes to a startup scenario.
The ICT program in Canada usually grants a work permit for one year. However, there can be cases where a two-year work permit will also get issued by the IRCC if the company situated in Canada is a subsidiary company of a foreign company. It is possible to renew the ICT work permit several times. It can be renewed for two to three years and even up to seven years. The only thing to ensure is that all the essential requisites of the ICT program are promptly met, such as possessing a dedicated Canadian office, running active business activities both in the home country and Canada, and employing Canadian citizens or Canadian PRs.
ICT work permit holders can use numerous methods to convert their temporary ICT status to Canadian PR status. One of the most popular methods is to apply for a PR through the Express Entry program. By doing so, the ICT work permit holders will obtain an additional fifty or two hundred points based on the category and duration of their work in Canada after twelve months of employment under the same Canadian Employer.
Immigration Lawyers at ImmiLaw Global have the professional expertise and in-depth knowledge of the complete immigration process and every intricacy. Our team will provide the best support for all our highly esteemed clients at every step, from filing the application, documentation, refusals, and refiling. We assure smooth and hassle-free resettlement to Canada.
For help and assistance, please feel free to visit our website or send an email to info@immilawglobal.com.
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