Intra-company transferee (ict) program

Canada

INTRA-Company Transferee
(ICT) Program:

EXPAND YOUR EXISTING COMPANY TO CANADA:

Relocating your existing company overseas can be both perplexing and rewarding. Canada, as an immigration destination, remains an attractive choice for entrepreneurs, business immigrants and workers. Canada is the world’s 2nd largest country by land area and the 10th largest economy. Entering the Canadian market comes with many benefits, such as the ability to explore new markets, take advantage of the government’s incentives, and enjoy business-friendly laws and regulations.

If you’re thinking about expanding your business in Canada, the team at Rightstep Migration can help you. Here is an overview of the main points and steps to consider when moving to Canada:

1. CHECK IF YOUR COMPANY IS ELIGIBLE TO EXPAND TO CANADA UNDER THE INTRA-COMPANY TRANSFEREE (ICT) PROGRAM

Not all business owners can move their companies to Canada and to do so you must meet the following requirements:

Your current company in your country must be active, selling goods or providing services.
Your current company must be at least 1 year old. The older the company, the better it is
A running company must have at least one employee.
While there is no minimum amount to operate a business in Canada, your company must have sufficient funds to grow your business in Canada. At least $100,000 should be present to sustain the business.
The company should be officially registered in the home country, with a complete tax payment record and has its own registered office.

Not every person from your company or business group can migrate to work in Canada. The owner of the company, executives, supervisors and key staff individuals can migrate to work in Canada.

For executives: must demonstrate inclusion/work in the company for at least one year in the last three years
For managers: must show at least one year of work association in the last three years with the home company and their management job
For key personnel: they should demonstrate at least one-year work association with the home company; appropriate training/ education, industry expertise and exclusive information

Now that we have looked at the eligibility criteria, let us see one of the most important elements when expanding, which is how to register your company in Canada.

2. ESTABLISHING YOUR COMPANY IN CANADA

When establishing your presence in Canada, you can register your existing company’s branch or incorporate a completely new subsidiary in Canada.

Choose a Canadian province where you wish to establish your company; most provinces require that you have at least 1 Canadian director on your board of directors;

Canadian director(s) – could be a nominee director or a complete director who is responsible and are answerable for managing your Canadian operations.

Also, choose the corporate structure of your Canadian organization.

3. APPLY FOR A WORK PERMIT

Once you have registered your company in Canada and have finished all other steps, you can apply for a work permit to work at your newly established Canadian company. Initial work permits are generally given for one year. Your spouse/partner and dependent children under 22 can come with you to Canada as temporary residents.

4. ARRIVE AND START WORKING IN CANADA

It usually takes between 1-4 months for the Canadian authorities to process your work permit application; once your work permit application is approved, you will be issued a work visa to travel to Canada. The work permit document will be issued at the port of entry upon your arrival in Canada; you have the option to extend your work permit for up to 5-7 years. However, this option depends on the type of role you have in your company.

5. APPLY FOR PERMANENT RESIDENCE

In general, your business must be “active” before you can apply for permanent residence, which means you should be compliant with the following:

You have a genuine business and your business is actively selling goods or services in Canada. The requirement does not necessitate that the company needs to be profitable at any cost, however there is general requirement to keep the company running and active.
You have a physical office and presence in Canada. You should have at least 1 Canadian citizen or permanent resident employee working for your company. These three things are the most important factors to be established and shown to the Canadian immigration authorities to extend the work permit. You also need to have a score of at least CLB 7(6 band each in IELTs) for your language skills; and must have at least high-school education.

Now that you have an idea of the process of expanding your company from any part of the world to Canada using the ICT program; you can now decide whenever you are ready to take your company to the next level. We’d like to welcome you to book a consultation with us to discuss your company’s specific needs.