4 Tips for Intra-Company Transfer Start-Ups

The Intra-Company Transfer Program in Canada is used by many global corporations to grow their operations there.

 

An ongoing business meeting

The Intra-Company Transfer Program, also known as ICT, enables foreign companies to transfer their competent staff to Canada to strengthen their management and global competitiveness. Additionally, some companies use this program to increase their Canadian exports. 

 

In this article, we'll review the requirements for intra-company start-ups and list a few tips for the companies planning to transfer their businesses to Canada.

 

Requirements

You may apply for this program if you run a profitable business outside Canada. However, there are certain additional requirements, such as but not limited to:

· At least a year should have passed since your business launched. It should have successfully run for three years in your country of origin.

· Your business must be able to support your overseas operations in Canada and be financially sound.

· The applicant for the work permit must have spent at least a year working for the organization (during the three years preceding the application)

· It must be connected to the Canadian business through a parent, subsidiary, or associate organization.

· In Canada, your company must be clearly defined and scalable. It must be able to develop new employment prospects for the nation.

 

Tips for Companies/Start-Ups Planning to Shift to Canada

Like the immigration procedures, several things'll help you make the process smoother and easier.

 

1. Registration of the Company

Register your company in Canada as an affiliate or a subsidiary company of your business elsewhere to qualify for the intra-company transfer program. Registering it as a new business would make it fall under this program.

 

2. Formulation of a Business Plan

Come up with a good business plan to outline your strategy of expanding the business in Canada and justifying it. Failing to come up with a good plan can result in the rejection of your application.

 

 

 


3. Compile All Necessary Documents

Compile all the necessary documents and store them safely because you'll need them. These documents include investment fund evidence, bank statements, and income statements of your existing business.

 

4. Work with a Professional

Always hire a professional lawyer to assist you with all the processes and legal formalities. Lawyers are experienced and have expertise in their fields, which will help you take care of all the minor details throughout the process.

 

Hire a Lawyer at Nanda & Associate Lawyers

Recognized as the Peel Region's BEST Lawyer - General Practice Company by Consumer Choice Award, Nanda & Associate Lawyers is the premier choice for legal services in Canada. They have the best business lawyers. Their services also include immigration, spousal sponsorships, mortgage, real estate litigation, and more. Contact them now to learn more!

Disclaimer: This article is only intended for educational purposes and shouldn't be used as a substitute for legal advice.

 

 

 

 

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