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6 Things You Need to Know Before Submitting Your ICT for Canada

Business Immigration | Intra-company Transferee | ICT 

If you want to expand your existing company to Canada, you will most likely need to send yourself or your skilled employees there. By sending employees who are essential to the growth of your company and who have the needed expertise, you will improve management effectiveness, expand Canadian operations, and increase competitiveness in overseas markets. One of the best ways to transfer an employee to Canada will be under an Intra Company Transfer (ICT). Submitting an Intra Company Transfer business plan as part of a work permit application will help you gain an ICT visa. To guarantee that your ICT business plan will be successful, there are some conditions that entrepreneurs should have in mind.

Here are 6 things you need to know before doing your Intra Company Transfer (ICT) for Canada.

1. Business Relationships

Before you even start to think about applying for the Intra Company Transfer Program, you need to know the answers to these questions: What is the international business relationship between Canada and the foreign employer, and vice versa? What is the business relationship between you as an employer and the foreign worker? 

A vital part of the ICT business plan is to demonstrate the relationship between the crucial parties of the business operation. You are required to have a layout of the pertinent details between each party which is best presented in the business plan. To help clarify these relationships, it is also helpful to include information on the company history, accomplishments, and the growth and strategic expansion plan in the home country as well as the strategic plans for the Canadian market.

2. Foreign Worker’s Expertise

There are 3 types of workers who can apply for an Intra Company Transfer Program. The transferee must have a qualifying relationship with the company and be either

  • an executive, 
  • a manager, or 
  • a specialized knowledge employee.

The ICT business plan needs to indicate that the employee’s expertise and/or qualifications will make a difference in the Canadian company’s management and operation system. 

The ICT program is open to any candidate from any country provided that they meet the requirements. This foreign worker will gain a Canadian work permit. If an employer offers permanent employment, the foreign worker should be eligible to apply for a permanent residency.

3. Business Goals and Objectives

Well-established business goals and objectives will keep your company on the right track. When composing an ICT business plan, you are obliged to state your goals for the new company in Canada. 

Before writing a business plan, take a step back. Ask yourself what you want to accomplish with opening a branch in Canada. How will that influence your revenue and the service you provide? Your goals can vary – from creating more job opportunities and milestones within Canada to increasing sales percentage. 

Now, imagine the small steps you need to take to reach your business goal. Those small steps are objectives. For example, if your goal is to improve customer service, your objective will be to hire two more employees. It is crucial to determine and exemplify things like job creation as well as profit and tax contribution to the economy to increase your chances of approval.

4. Financial Stability and Projections

When opening a new business branch in another country, you need to provide evidence on how you will financially support that company. It is vital to show how the company will cover costs and highlight where funding will come from. 

One way of exemplifying your financial stability is through your financial projections. A financial projection is your forecast of expected cash flow, revenues, and expenses through a period of 3 to 5 years. If you want to make a success out of your ICT business plan, your numbers should be realistic and you should be able to support and defend them.

5. Target Market

Can you imagine your ideal customer in Canada? It is necessary to determine the target market for your business. A target market is a group of consumers of your product or service. The best way to identify your ideal customer is by including demographic information of the targeted group. 

There are various demographics to targetage, gender, location, income, educational level, etc. When you target a market, that does not mean that you will exclude everyone who does not fit those demographics. It means that you are more focused on a specific type of group who is more likely to consume your product.  Having a well-defined target market that aligns with what your business offers will make your plan and projections seem more feasible, therefore helping your chances of application success.

6. Business Immigration Expertise

A successful ICT business plan should be composed by an immigration business plan professional. No one can know everything about business development in advance, but a business plan advisor will help you in the business planning process, especially as it relates to ensuring the document is suitable for immigration purposes. That’s what we do at Joorney every day!

Unlike other types of business plans, such as bank loan business plans or investor business plans, immigration business plans need to be simple and easy to understand while emphasizing the points that immigration officers will care about the most.  This is not always the easiest task, especially if you have no prior experience with business immigration.

Understanding the points above, and properly incorporating them into your business plan, will help ensure that your ICT applicationas well as the new Canadian-based business itselfis a success.

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