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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.
Why You Should Choose Sobirovs as Advisors for Your Tech & Business Immigration to Canada
Business immigration is a highly specialized area of immigration, which requires not only excellent knowledge of the law but also experience in applying the law to a variety of cases. At Sobirovs, we have helped numerous foreign entrepreneurs with their business immigration to Canada. Our lawyers provide highly tailored immigration solutions specially developed for you and your business.
Take these 3 steps to learn more about your business immigration possibilities, and let’s team up to achieve your goals today:
- Step 1: Check your eligibility for business immigration programs using our Free Instant Assessment tool.
- Step 2: Check our fees using our Fee Calculator.
- Step 3: Book a 1-hour Strategy Meeting with our senior business immigration lawyer to discuss your immigration case in more detail. If we take you as our next client after this meeting, the fee you paid for the meeting will be applied toward our legal retainer.
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