25 Oct The Importance of a Business Plan for an Intra Company Transfer
When applying for a Canadian work permit via an Intra-company transfer (ICT), an expertly crafted business plan will give you the best chance at application success. The ultimate purpose of the ICT program is to benefit and grow the Canadian economy. This objective is even driven home in the header on ICTs on the Government of Canada website which reads:
That’s why it is imperative to cohesively demonstrate the transferee’s skills in context of the foreign company and how they will benefit Canada. Submitting individual documents for the application requirements is often a lackluster way to communicate these benefits.
Alternatively, a business plan is the most comprehensive and cohesive way to address all elements of the ICT application. It allows you to tell a story of the foreign company’s success, how the foreign company and the transferee will translate that success to Canada, and what benefit the Canadian-based company will bring to Canada’s economy.
In the ICT context, a business plan is recommended for all applications. You may think you only need to include a business plan if you are starting up a new endeavor in Canada. However, whether transferring to an established business or a start-up, a business plan is one of the most professional, concise ways to demonstrate the companies and the transferee meet the requirements for ICT.
Let’s examine how the key components of the ICT application are best addressed through a business plan:
Relationship between Canadian and foreign employer
Here, the objective is to demonstrate that the foreign employer has a parent, subsidiary, branch or affiliate business relationship with the Canadian employer. The business plan format allows you to clearly lay out details about the foreign entity, their history, their achievements, and their plans for continued success and growth. Especially in the case of a start-up in Canada, proving stability in the foreign entity is imperative.
Relationship between the employer and the foreign worker
The intended relationship between the foreign worker and the existing Canadian entity must be evident. This is typically an employer-employee arrangement. While it is relatively easy to prove this through standard documentation, you lose the ability to highlight the importance of the foreign workers role within the company. In a business plan, you are given a platform to exemplify the depths of the working relationship within all key areas of business operations.
Foreign worker expertise
There are only three types of workers that are eligible for an ICT; executives, managers, and specialized knowledge workers. The transferee’s CV will provide evidence of experience, qualifications and achievements. The business plan, however, artfully connects the dots between that experience and the benefit it brings to the Canadian company. Again, due to the way a business plan is structured, the point will be driven home throughout and provide a much more solid foundation.
Special considerations for ICT Start-ups
While a business plan is optional when applying for an ICT to an existing Canadian company, it is required for start-ups endeavors. The ICT start-up program requires that applicants demonstrate the company can financially support themselves and cover future payroll, outline where start-up funding will come from, and have a detailed plan of operations. Start-up ICTs will only be granted a one-year temporary work permit. A successful renewal will require proof the company is operating successfully, and the transferee is providing the anticipated expertise in a beneficial manner.
There are many ways to present the information required for a successful application. However, given the intricacy of business relationships between foreign entities and the importance of exemplifying a transferee’s skills, a business plan is best suited to make this case.
Even for immigration professionals, the technical business aspects of the ICT warrant the involvement of business plan experts. Joorney has a complete understanding of the nuances of the Canadian immigration landscape. To-date, we have written over 4000 business plans for clients from over 65 countries. With Joorney’s expert business plan as part of your ICT application, you can ensure the greatest chance for success.
*Joorney Business Plans Canada is not an immigration consultant, lawyer or advisor, and cannot be held responsible for damages incurred from the use of information in this article. If you require more information about a program, please contact a registered immigration professional.
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