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Business Plans | 23 June, 2021

Importance of a Business Plan for an Intra-Company Transfer

First of all, congratulations on the international expansion of your company! Expanding and establishing a Canadian presence will provide fuel for your company’s growth and the growth of the Canadian economy.

When submitting an Intra-Company Transfer (ICT) application, your best chance of success is to include a well-written business plan that speaks specifically to the program and the benefits of your expansion for the Canadian economy.

Here is how to tailor your business plan for successful program approval.

What is an Intra-Company Transfer (ICT)?

Suppose your business currently operates in a country outside of Canada and plans to open localized Canadian operations. In that case, you will likely send your employees or managers into Canada to set up the business. This requires that they temporarily relocate to Canada. After the company has been set up and runs smoothly, these employees and executives are expected to return to their home country.

Before your team members can enter Canada to work, you must first apply and get approval to start your business in Canada. This is how the Canadian International Mobility Program (IMP) helps.

A successful IMP application for an ICT requires a detailed business plan. Customize your business plan to speak specifically about how your business plans to operate in Canada and the benefits your business will create for the Canadian economy.

How to write your business plan for an ICT application

Your Intra-company Transfer business plan will be similar to the parent company business plan but will include more specific information about your proposed Canadian operations. Submitting a business plan is not required but recommended. Your alternative is to submit separate documents to prove you meet all the requirements, but your best chance of submitting a successful ICT application is to submit your responses through one cohesive business plan.

An ICT business plan should include all the standard business plan sections, plus go into further specifics for the following areas:

  • Executive Summary: First impressions matter. The first section the government will read is your executive summary, so it needs to be robust and clear. Use it to show you understand the requirements of the program.
  • International Operations: Include a section of your business plan that outlines the background of your parent company and its international expansion plans. Be sure to reference the financial stability and strength of the company and proof of successful international expansions into other countries, if applicable.
  • Description of Business in Canada: Explain the relationship between the parent company and its proposed entities in Canada. You should include the proposed Canadian location of the business and staffing requirements. In addition, present a local industry analysis and product/service descriptions.
  • Management Structure: This is similar to the Management Team section in a standard business plan. Be sure to highlight the role of the proposed transferee and why they are well-suited for the job. If they have any specialized industry or company knowledge, that declaration will be looked on favourably by the team reviewing your application.
  • Staffing and Recruitment: Present a clear plan for staffing requirements and how you will recruit local employees for the Canadian subsidiary.
  • Operating Plan: To provide assurances that you’re not setting up a “shell” company, you must outline your proposed business operations in Canada. This means specifics as they relate to capital goods and premises. For example, include existing investments in the region and a section on purchasing and distribution if it applies to your business.
  • Financial Plan and Projections: This is no different than a standard business plan. The government will be looking to see that your business could become a profitable contributor to the Canadian economy.

 

Have Questions? Looking To Get Started?

 

Eligibility requirements for the ICT Program

The goal of the ICT program is to bring businesses into Canada that will benefit and grow the Canadian Economy.

For an international entity to establish a presence in Canada, it must meet several criteria, including:

  1. When transferring a specialized knowledge worker: your company must prove that they will do business in Canada and ensure work is guided by management within the Canadian entity of the company.
  2. When transferring a company: your company must prove that they have a physical Canadian premise (or plans to purchase or lease one), can adequately staff that location, and have the resources to launch and operate the business in the country.
  3. When transferring executives or managers: your company must prove that the operation will be large enough to support management or executive functions.

Candidates you send to Canada must apply for work permits under general provisions. In addition, as individuals, they must meet the following criteria:

  • They are currently employed by your company.
  • They seek to work for your company in Canada through a parent, subsidiary, branch, or affiliate of that company.
  • They have specialized knowledge or are transferring as an executive or managerial team member.
  • They have been employed by the company in a similar role for at least one of the last three years.
  • Their move to Canada will be for a temporary period.
  • They comply with all immigration requirements for temporary entry into Canada.

We recommend seeking an immigration consultant to ensure any staff you plan to relocate to Canada temporarily meets immigration requirements.

How to find a Canadian Immigration Professional

If you seek to immigrate to Canada and start a business, you may need to submit a business plan with your immigration application. A business plan writer can help you get the business plan portion of your application written. In addition, we suggest seeking counsel from a Canadian Immigration Consultant to ensure you have met all the legal immigration requirements for your business.

To start your search to find an immigration consultant, refer to these directories:

 

Start your ICT Business Plan today

Expanding your business into Canada is a decision that has ripple effects across your entire company as well as the Canadian economy. Get the best chance of submitting a successful ICT application by hiring a professional business plan writer to customize your business plan to speak directly to the program requirements.

Hire our team of ICT business plan writers and get started today.

Let's Get Started!