An Intra-Company Transfer refers to the process where a company transfers an employee from its office in one country to its office in another country. In the context of Canada, the ICT program allows international companies to transfer their senior executives, managerial staff, or specialized knowledge workers to their Canadian branch, subsidiary, or affiliate.
Eligibility for ICT to Canada
To be eligible for an ICT:
The transferring employee must have been employed by the company outside Canada for at least one continuous year in the last three years.
The employee must be transferred to a position in the managerial, executive, or specialized knowledge category.
The Canadian and foreign companies must have a qualifying relationship (parent company, branch, subsidiary, or affiliate).
Reference: Eligibility criteria for ICT
How to Open Your Business in Canada
Research and Planning: Understand the Canadian market, identify potential challenges, and develop a business plan.
Choose a Business Structure: Decide whether you want to operate as a sole proprietorship, partnership, or corporation.
Register Your Business: Depending on the province, you may need to register your business name and obtain a business license.
Get Necessary Permits: Ensure you have all the necessary permits, especially if you're in a regulated industry.
Open a Business Bank Account: This will help you manage your finances and fulfill tax obligations.
Hire Employees: If needed, hire local employees and ensure you adhere to Canadian labor laws.
Reference: Starting a business in Canada guide
FAQ Section
Q1: Can I transfer multiple employees to Canada under the ICT program?
A1: Yes, companies can transfer multiple employees, provided each employee meets the eligibility criteria.
Q2: How long can an employee stay in Canada under the ICT program?
A2: Executives and managers can stay for up to seven years, while specialized knowledge workers can stay for up to five years.
Q3: Do I need to conduct a Labor Market Impact Assessment (LMIA) for ICT?
A3: No, ICTs are exempt from the LMIA process.
Q4: Can the transferred employee apply for permanent residency in Canada?
A4: Yes, after fulfilling certain criteria, the employee may be eligible to apply for permanent residency.
Q5: What are the tax implications of opening a business in Canada?
A5: Tax implications vary based on your business structure and province. It's advisable to consult with a Canadian tax expert.
In conclusion, Canada offers a conducive environment for businesses looking to expand their operations. The ICT program further facilitates this by allowing companies to transfer their key employees seamlessly. If you're considering this route, ensure you understand the requirements and processes to ensure a smooth transition.