Welcome to our series on Canada’s recent updates to the Intra-Company Transfer (ICT) program. In this series, we’ll walk you through the latest changes that could impact your company’s expansion into Canada. This blog will focus on the updated definition of a “multinational corporation,” while future posts will cover additional key updates. We invite you to follow along to stay informed on all aspects of the revised ICT program.
The ICT program is designed to help multinational companies transfer essential executives, senior managers, and specialized knowledge workers to their Canadian operations. It provides a pathway for businesses to establish or strengthen their presence in Canada, facilitating global expansion. However, recent changes in eligibility requirements make it essential for companies to align with the updated standards.
Old vs. New Definition of a Multinational Corporation
Under the previous guidelines, a foreign company could use Canada as its first international market outside of its home country when applying for an ICT. For example, an Italian company could transfer an executive to Canada without needing prior revenue-generating operations in another foreign country. Canada was seen as the company’s first international expansion, and IRCC accepted this as a reasonable foundation for ICT eligibility.
However, under the updated requirements, IRCC now mandates that an ICT applicant must show that the multinational corporation already has revenue-generating operations in at least two countries outside of Canada. This means that companies must establish themselves in another international market before considering an ICT application to Canada. So, if our Italian company wanted to transfer an executive to Canada today, it would need to show revenue-generating operations in both Italy and at least one additional country, such as France, before it could apply.
What This Means for Your Business
The revised definition signals Canada’s intention to limit the ICT program to genuinely multinational corporations with proven experience operating across borders. If your foreign company currently operates solely in its home country, you will now need to open and establish revenue-generating operations in at least one additional foreign market before applying for an ICT.
This shift presents both challenges and opportunities. On one hand, it requires more preparation and investment, as companies can no longer use Canada as their first international base. On the other hand, it encourages growth beyond domestic borders, which can help build a stronger foundation for global business success, benefiting your company’s long-term strategy.
How We Can Help
This is where a comprehensive business plan becomes invaluable. A well-crafted business plan can clearly demonstrate that your company meets the updated definition of a multinational corporation, emphasizing your revenue-generating operations in multiple markets. Additionally, it can outline your strategic goals for Canada, showing IRCC that you’re prepared to expand sustainably and in alignment with their updated ICT framework.
Our team specializes in developing business plans tailored to meet Canadian immigration standards, including the ICT program’s evolving requirements. With a thorough, organized, and industry-focused approach, we can help present your company as a multinational corporation ready to make a meaningful impact in Canada.
Contact us today to ensure your business plan aligns with the latest ICT program standards and meets the new multinational corporation criteria. With our support, you can confidently apply for an ICT and showcase your company’s readiness for success on Canadian soil.
Stay tuned for the next post in our series, where we’ll explore additional changes in Canada’s ICT program and what they mean for businesses aiming to expand into the Canadian market.
Please note that the information presented in this blog is for informational purposes only and should not be construed as legal advice. It is essential for individuals to consult with a qualified immigration attorney or immigration consultant to obtain personalized guidance tailored to their specific circumstances. An immigration attorney or immigration consultant can provide accurate and up-to-date legal advice to ensure compliance with immigration regulations and enhance the success of your visa application.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in four different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of Canadian and U.S. immigration, U.S. SBA loans, and others.
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