Successful Intra-Company Transfer Extension for a Furniture Manufacturer

Successful Intra-Company Transfer Extension for a Furniture Manufacturer

December 02, 2022

In early 2019, we advised a Vietnamese home equipment manufacturer and wholesaler in their successful expansion to Canada. The company opened an office in the Greater Toronto Area, led by its parent company’s Chief Financial Officer. The senior executive’s spouse received an open work permit, and their children were awarded study permits.

Due to the Covid-19 pandemic, the Canadian subsidiary experienced severe difficulties executing its business plan. Multiple logistical issues affected the transportation of goods to Canada, and the company could not generate the projected revenue. As a result, the business was not viable, and the senior executive could not obtain permanent residency.

In situations where the initial work permit period runs out, and the entrepreneur is either unable to apply for PR or does not wish to do so, they can always extend their initial work permit. The extension would also apply to their family members who came to Canada.

In this case, the company needed more time to create a profitable and viable Canadian business that would be able to execute the initial business plan.

Immigration Program

The initial work permit was secured through the Intra-Company Transfer program, which was used again to apply for the extension.

Investment Amount

The parent company already committed a significant amount for the expansion of their Canadian subsidiary in 2019, which was between CAD $250,000 – 350,000. However, the parent company presented solid revenue growth and available funds, which it could use to continue to support its subsidiary.

Timelines

  • February 11, 2019 – Initial ICT work permit application is approved for the principal applicant, and additional permits are given to family members.
  • January 31, 2022 – The ICT extension application was submitted along with extension requests for the family members.
  • September 1, 2022 – The extension application was approved for another 2 years.

We are delighted to congratulate our client on a successful ICT extension! We are looking forward to their company succeeding in the Canadian market!

If you are looking for wholesale furniture sellers, please contact us! We can connect you with a fantastic company that manufactures and imports outstanding furniture to Canada.

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