Intra company transfer is an exceptional pathway for business professionals, Executives, Senior Managers, and Specialized Knowledge workers who can move to their favorite destination to start a new branch, subsidiary, or affiliate. This is a perfect program for business professionals who have successful business in their native country and wishes to expand overseas. The applicant must demonstrate the legitimacy of the company and the intention to set up a branch overseas.
The intra-company pathway can be termed as a temporary residency pathway for business people. The visa is granted for 2 to 3 years which can be extended for multiple years depending on the country. After establishing the new office overseas, the applicant can apply for an extension and subsequently apply for permanent residency by meeting the residency requirements of switching the visa.
What are the benefits of Intra Company Transfer Visa?
1) No job offer – The primary advantage is that the applicants need not apply for any job to move to their favorite destination.
2) Simple & Faster Process – Investor visa consultants suggest that the process is considered very straightforward, including the work permit process due to the LMIA exemption. Usually, it would take 3 to 6 months to process the application.
3) Route to Permanent Residency – With an extension of 5 and 7 years under the Intra Company, the applicant can attain permanent residency by meeting residency requirements or switch to the PR visa.
4) Accessible to Family – Applicant’s Spouse is also eligible for an open work permit, and children above five years are eligible for a study permit. The entire family will come under the Health coverage.
5) High Returns – Considering the small-scale operations, applicants can expect higher returns and profits from high-income Canada, US, and UK markets.
6) Qualified Workforce – These countries have a plethora of eligible and skilled professionals who can contribute to the business and economy.
7) No minimum investment – Under the Intra company transfer pathway, there is no minimum investment requirement. However, you must have sufficient funds to run an office overseas.
What are the programs under the Intra Company Transfer Visa?
Currently, Canada and the USA allow an intra-company pathway for business people, Executives, Senior Managers, and Specialized Knowledge workers with up to a maximum of 7 years of stay. Additionally, the UK has a pathway known as Sole Representative Visa that allows the businessmen to set up a UK branch.
1) Canada Intra Company – It is designed for business people, Executives, Senior Managers, and Specialized Knowledge workers as a work permit pathway. Initially, the work permit will be granted for 1 to 2 years with renewal options multiple times by operating a thriving office in Canada. Having Canadian Experience, the applicant can apply for Canada Express Entry for Permanent Residency. Canadian Experience will give a necessary edge for the selection.
2) UK Sole Representative Visa – According to the investor visa consultants, the pathway is not required to switch the PR visa. The visa is granted for three years, and the applicant can renew the permit for another five years. After residency for five years in the UK, the applicant and his/her family will be eligible to apply for the UK Permanent Residency.
3) US L-1 Visa – Like the Canada Intra-company pathway, the US also has a path for business people, Executives, Senior Managers, and Specialized Knowledge workers to establish an office in the US. The Executives and Senior Managers will get an extension up to a maximum of 7 years, but Specialized Knowledge worker will get an extension of 5 years. After post expiry of the renewal, the applicant needs to switch to another permanent residency pathway.