About ICT Immigration for Transnational Executives
Canadian multinational executive ICT immigration is actually a combination of "transnational company internal transfer work permit" and skilled immigration. The Canadian government established the "Intra-Multinational Company Transfer Work Permit" in order to improve the management efficiency of multinational companies, expand the export of Canadian products, and increase the competitiveness of overseas markets by sending qualified people to work in Canada.
With the advent of globalization, more and more companies are expanding overseas markets and beginning to establish overseas subsidiaries. After the subsidiary is established, the company management hopes that domestic executives (or the business owner himself) will first go overseas to manage the subsidiary and ensure the normal operation of the subsidiary.
Before domestic executives (or business owners themselves) go overseas, they need to apply for foreign legal status. This is the Intra-Company Transferee Work Permit of a multinational company.
Eligible internally transferred employees can apply for a work visa and are generally exempt from a Labor Market Impact Assessment (LMIA). After obtaining a work permit, the applicant can later obtain immigration status through various methods such as Express Entry, Provincial Nomination or Federal Experience Immigration.
Nine advantages
- It is more convenient and flexible to expand the international market, and achieve both entrepreneurship and immigration;
- The waiting time is short, and company executives (or business owners themselves) can obtain work permits in 2 to 3 months;
- The whole family can log in together and enjoy free medical care in Canada, and their children can enjoy free public education (primary and secondary schools) in Canada;
- The start-up capital is small and the review of funding sources is lax;
- The applicant has strong control over the operations of the Canadian company and can reduce investment risks;
- No quota limit, no waiting period, and fast application;
- No labor market impact assessment is required, immigration can be processed directly, shortening the application time;
- English proficiency is not required to apply for a work permit, but having English proficiency will be more advantageous for the application;
- After obtaining a work permit, there are more ways to submit an immigration application, making the immigration success rate higher.
Requirements for applying for multinational executive ICT
- There is a parent company in China (a limited company, a partnership or a sole proprietorship, a joint venture, or a state-owned enterprise);
- The domestic parent company has substantial ties with the company established in Canada (branch, holding company, joint venture, or cooperative operation are all acceptable);
- Applicants must have worked for the overseas parent company outside Canada for more than one year in the past three years, have served as an executive (legal person, executive, manager or department head) in the Chinese parent company, and are prepared to continue serving the same company in Canada. Chinese parent company;
- The applicant must be employed full-time by a Canadian company, consistent with the job content for the three years before arriving in Canada, and serve as a manager of the Canadian company;
- The application is submitted by the Canadian company;
- Canadian companies have real office space and legal business procedures;
- Canadian companies are required to provide proof of working capital of at least CAD 200,000. (This fund does not need to be deposited into a Canadian company account, only a certificate of funds is sufficient, such as a certificate of deposit from a domestic bank, but a certificate of deposit from a Canadian bank is more valid);
- Can prove the legal relationship between the Canadian company and its domestic parent company;
- Both the Chinese parent company and the Canadian company need to operate normally and employ reasonable staff. There are no specific regulations on the size of the Chinese parent company, but it is generally recommended to have an annual turnover of more than 10 million and more than 10 employees;
- The Immigration Law stipulates that if the applicant applies in the name of a manager, he or she must meet the following requirements: (1) Have a guiding role in the management or main functions of the company; (2) Be responsible for establishing the company's goals and policies; (3) Be competent in company decision-making Large dominance; (4) Accept supervision from higher levels in the company, such as the board of directors, shareholders, or higher-level supervisors.
- If the applicant applies in the name of a senior executive, he or she must meet the following requirements: (1) Manage the company, or a department of the company, or be responsible for a major function of the company; (2) Manage and control the work of other professionals and managers, Or be responsible for a major department in the company; (3) If managing other employees, the applicant must have personnel rights, such as hiring, firing, or recommending promotions. If you do not directly manage other employees, you must have direct authority over the company's major functions and direct the day-to-day operations of the company.
Frequently Asked Questions about Applying for Multinational Executive ICT
Q1: How to provide proof of working capital of a Canadian company?
To prove the working capital of a Canadian company, you can issue a certificate of deposit or time deposit certificate from a domestic bank (the certificate of deposit is a standard document. Tell the domestic bank that you need a "certificate of deposit" to apply for a Canadian work permit, and the bank will issue it immediately.
Q2: How do Canadian companies use operating funds? Does it have to be fully invested in the company?
This fund certificate is only used to prove that the applicant or the Chinese parent company has the financial strength to operate the Canadian branch, that is, it can support the operation of the Canadian branch for one year. The funds do not need to be deposited entirely into the Canadian company's bank account and can be deposited monthly. The ICT immigration program for multinational executives does not require a company’s investment amount. Depending on the nature of the business, annual operating funds range from 100,000 Canadian dollars to hundreds of thousands of Canadian dollars. To be on the safe side, it is recommended to prepare a certificate of deposit of 200,000 Canadian dollars, or 1 million people.
After a Canadian company is established and a company bank account is opened, CAD 200,000 can be deposited into the company account or the applicant's personal account in a Canadian bank. A certificate of deposit issued by a Canadian bank can be more convincing to the immigration officer.
Q3: Is writing a business plan important?
The Multinational Executive Work Permit is designed for multinational companies that have established branches or subsidiaries in Canada. A business plan is one of the documents that must be submitted. The Canadian Immigration Bureau uses the business plan to understand your branch or subsidiary's business, products, market, target customers, advantages, market competition, future revenue expectations, future number of employees, etc., as well as the business operations of the Chinese parent company, Income, advantages, etc. are used to determine whether your company can serve the interests of Canada.
The purpose of the Intra Company Transfers The visa program is to allow international companies to send highly or essential skilled employees to create or grow their Canadian branches, subsidiaries or affiliates. The objective of the Canadian government is to increase management and operation's effectiveness and enhance competitiveness of Canadian businesses.
The transferees must either be an executive, managerial position or an employee with specialized knowledge.
As such, the application must show that the unique employee will make a clear difference in the company's management and operation and that his skills will effectively increase competitiveness. This visa also allows for foreign businesses to establish a Canadian company and bring critical workers for start-up operations.
These requirements can be met with a well written Intra Company Transfer Business Plan.
