Simple Tips for a Successful Intra Company Transfer Business Plan
The Intra Company Transfer (ICT) was created to allow international companies to send their skilled employees to Canada. These skilled employees set a Canadian office and expand a particular business in Canada while contributing to the local economy. If an international business wishes to set up a location in Canada, they need to submit an ICT business plan as a part of their application that fulfills the requirements of the Canadian government. To ensure that the business plan is successful, there are some requirements that business owners should be mindful of when setting up a branch or affiliate in Canada under the ICT program.
#1 International Business Relationships
An ICT Immigration Business Plan allows business owners to demonstrate working relationships within all critical areas of the business operations. One crucial point of the ICT business plan is that it needs to show the intended relationship between the Foreign Worker/Canadian Entity and vice versa. There needs to be a clear layout of the finer details between both parties in the business plan. Essential information to include here would be company history, achievements, and continued success/growth strategies in the home country and a strategic expansion plan for the Canadian market.
#2 Foreign Worker Expertise
Through the ICT, three types of workers are eligible for the program. These foreign workers are executives, managers, and other skilled workers. In the Intra Company Transfer’s business plan, there needs to be straightforward evidence of the expertise and qualification of the transferring worker. The business plan should provide this supporting evidence and how this will benefit the overall Canadian operations. Qualified ICT foreign workers can be of significant economic benefit to the local economy as they bring specialized skills and expertise to the Canadian labor market. ICT program is open to any country if they can meet the program requirements.
#3 Provide Evidence of Financial Support
With a start-up ICT program in Canada, the business will need to demonstrate how they will financially support themselves. In the business plan, it’s important to show straightforward evidence of how the company will cover costs and highlight where funding will come from when operating in Canada. To ensure the business plan is a success, detailed financial projections with proper assumptions are also needed.
#4 Set Out Business Goals
The ICT business plan needs to set out clear goals for the business in Canada. Failing to highlight these goals can result in the rejection of the application. Some of the business goals could be expansion and milestones within Canada, job creation, anticipated percentage sales growth, etc. Hiring a professional business plan writer can help ensure that the ICT business plan covers all the required information. An experienced business plan writer can offer the expertise to make your business plan stand out and increase the chances of success of your Intra Company Transfer application.
Are you looking for a Vancouver-based immigration business plan writer? Contact me here, and I’ll be happy to answer any questions you may have about your Intra Company Transfer business plan. Please note that the above information is based on my experience as a business plan writer for Intra Company Transfer business plans. I am NOT an immigration consultant. Any questions regarding your eligibility or immigration requirements must be directed to a licensed Canadian immigration consultant.
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