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If you have a provisional business visa (Business innovation and investment (provisional) visa), you will be eligible for permanent residence after establishing your business
Business visa applicants with extensive experience (Business talent visa) can be sponsored by a state or territorial government for PR visa
With the Business Innovation and Investment (Provisional) visa you can own and manage a business in Canada or conduct a business or investment activity entrepreneurial activity in Canada.
The right to establish a new or develop an existing business, or to invest in Canada
Unlimited travel in and out of Canada
Bring family members with you to Canada
Opportunity to apply for Canadian citizenship
The opportunity to apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888)
It is also possible to extend your visa for a further two years if you have applied and been granted the Subclass 188 visa under the Business Innovation stream
Ownership of a business with turnover of at least AUD 500,000 for at least 2 of the last 4 fiscal years
Net personal and business assets of at least AUD 800,000.
Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic contribution benefit.
Meet the pass mark in the Business Innovation and Investment Points test currently 65 points. Points are awarded on:
Age, English language ability, Qualifications
Experience in business or investment
Net personal and business assets, Business turnover
Innovation. Special endorsement
Have an overall successful career in business.
As one of the world’s most dynamic countries, Canada has an immense requirement for skilled talent. Make the most of this opportunity by applying for an Canadian Work Visa. Having years of experience in Canadian immigration processes, Y-Axis is the perfect consultant to launch your career in Canada.
Canada is one of the world’s most desired migration destinations, with a welcoming culture, vibrant cities, and sunny beaches. Highly-skilled professionals from all over the world come to Canada for its great quality of life and stable economic prospects. An English-speaking country, Canada is easy to assimilate into. Canada has a more cosmopolitan culture thanks to a significant migrant population. The enviable citizen benefits and progressive policies of Canada make it a great destination to settle with your family.
Choosing to be an overseas student might considerably expand your educational opportunities. Foreign universities in the United States, the United Kingdom, or Canada have highly reputed institutions, and these three nations are home to a large percentage of the world’s top universities.
There are several business immigration pathways in Canada’s immigration framework. One is the Canadian Intra Company Transfer (ICT) program, which is appropriate for international companies wanting to expand their existing operations in this North American country. This article introduces you to the particulars of the ICT program, which include its application processes, advantages, requirements, and pathways to gain permanent residency.
ICT, a pathway for immigration falling under the International Mobility Program, allows capable overseas businesses to relocate to Canada for their operations and, thus, be eligible to secure a work permit. With the ICT pathway, you are eligible first for an ICT Work Permit and eventually for permanent residence. In the majority of cases, the spouse of the primary applicant will obtain an open work permit while the dependent children are issued a study permit.
ICT is only one among the many business immigration programs that Canada has on offer. You can access the free instant assessment we provide and learn about the options to migrate to Canada.
Our business immigration attorneys also provide advice when we conduct an hour-long strategy meeting.
The intent of the ICT program was to let globally established companies know how to operate in Canada. This program benefits three types of individuals: business owners, entrepreneurs, and shareholders of commercial firms holding executive posts in their firms and wanting to expand in Canada too.
High-ranking managers and operational managers, who currently work in an overseas company and are looking to work in a similar capacity in Canada, and the main officials of a business house who possess niche knowledge in a profession.
Applicants like the aforementioned individuals must also meet several other requirements, which are described below, if they want to obtain a work permit with the ICT program.
Entrepreneurs owning a productive business in their native countries are allowed to apply for an ICT work permit (WP) to develop their Canadian operations. Other requirements that have to be met by entrepreneurs wanting to get a work permit through the ICT program include the following:
The establishment in their country of origin should have been operative for at least 12 months (though preferably for at least three years) before they step into Canada.
The Canadian government does not propose an investment of any minimum sum for firms to set up a base in Canada. It is, however, implied that the companies must be financially robust, have the required capital to expand their operations in Canada, and will hire local talent.
It is suggested that companies should show that aggregate sales are increasing by CAD 250,000 per year and can access liquidating funds worth CAD 100,000 to cover the first year’s operational costs. In addition to the first investment capital, candidates must prove that they can access more assets or funds to run the business in Canada in case it has not achieved self-sufficiency during the completion of its first year.
To be eligible to apply for any immigration program in Canada, applicants must prove that they can meet the eligibility criteria of the program. Applicants should also have a feasible strategy on how to show the potential they possess that will convince the immigration authorities of Canada.
Subsequently, applicants must be able to substantiate their potential in the immigration applications, extensively describe how they would fulfill the eligibility criteria, and contribute to Canada’s economy.
Step 1: Register a company in Canada as a parent, ancillary, or an associate.
Step 2: Create a business plan that shows a plan for executing the business activities they propose, complete market research in Canada, and explain how they plan to run it profitably there. Ensure to include your hiring strategy and cash flow projections by adhering to the industry standards for the coming two to three years.
Step 3: Gather all the essential documents (like articles of incorporation, proof of investment funds, bank statements, etc.) and prepare applications for a work permit; and
Step 4: Submit work permit applications and await their decisions.
Note: The process varies considerably based on the nationality of the applicant.
Applicants hailing from countries that are exempted from Canadian visas can apply for an ICT WP at the port of entry (POE).
Typically, customary processing times apply to the ICT WP applications and can be confirmed on the website of IRCC related to your country.
Do remember that for executives and managers, ICT applications are processed by the CPC-Edmonton office, which is located in Canada. This office is said to be using a case processing technology, “Chinook,” allowing decisions to be taken swiftly. If an application is sent to the CPC-Edmonton office, they will arrive at a decision in not more than one or two months. If you are not aware of its intricacies, take the help of an immigration lawyer.
ICT work permits are usually issued for one to two years. If a start-up company applies for it, the WP will normally be valid for one year only. The WPs can be renewed for two to three years more for a total of five years for skilled knowledge workers, and executives and managers can get it for even up to seven years.
This program also allows individuals to obtain WPs through a Labour Market Impact Assessment (LMIA) exemption (C12).
Foreign nationals who have been full-time employees for one year in a Canada-based company could gain eligibility to apply for PRs through the Express Entry programs. Depending on their designations, skilled foreign workers can get 50 to 200 or more points for organized work (job offers) from their companies based in Canada.
This will also add to their Comprehensive Ranking System (CRS) scores significantly, leading to being chosen under the Express Entry (EE) stream’s Federal Skilled Worker Program (FSWP) category and an invitation to apply (ITA) for PR that the immigration authorities will grant.
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