Investment-based immigration to Canada
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has been signed by 11 countries with the Vietnamese portion coming into force on January 14, 2019. This agreement with Vietnam has created new pathways for workers and investment-linked immigration to Canada.
Let’s review 3 business immigration categories that are covered under this agreement with Vietnam.
1. Business Visitors
A business visitor can stay in Canada up to 6 months (extendable) without the need for a work permit. Their work scope is limited; however, they are allowed to perform certain duties while in Canada.
Business visitors are people who come to Canada to:
- Attend meetings,
- Meet business partners,
- Join seminars or conferences,
- Attend trade conventions,
- Engage in consultations with business associates,
- Do market research,
- Scientific research, or
- Conduct sales (with limitations)
2. Intra-Corporate Transferees (ICT)
The ICT category is eligible to Vietnamese businesses who want to send their owners, managers, or trainees to their Canadian branch or start-up offices in Canada. Work permits can be issued for 1-3 years (extendable), and no LMIA is required.
Canada also requires the employee to be working continuously for the foreign-owned company for one year before they can transfer to Canada.
The branch office in Canada can be an existing company or a completely new start-up. No capital investment is required to qualify for an ICT transfer, however for start-ups it is generally assumed a business can prove at least $100,000 CAD in assets.
In a previous post, I explained the ICT benefits in more detail, which I also recommend reading.
Here are some details regarding the CPTPP agreement and how they impact Vietnamese ICT applicants:
- Company managers are eligible including executives, managers, and managing owners.
- Management trainees are eligible. For example, an employee with a post-secondary degree who is on a temporary work assignment in a company in preparation for a senior leadership position within the company.
- Spouses are also eligible to receive work permits.
3. Investors
Under this category, Investors from Vietnam can come to Canada on a work permit for one year (extendable) to start-up or buy an existing business. No LMIA is required for this category as well.
The Investor must commit an amount of capital and act in a management role of the business. While there is no set investment minimum stated in the CPTPP agreement, it is well recommended that a business investment for this type of program to be at least $250,000 CAD.
For more information on purchasing a business or investment in Canada, click here to read on about our franchise options available.
Spouses are also eligible for work permits under the Investors program.
Vietnam’s Benefit
These 3 new pathways presented by the CPTPP offer fresh opportunities for Vietnamese managers, business owners, and investors to immigrate to Canada with their families. For many of these pathways the investment cost is very low, with no need for angel investors.
There are numerous entrepreneurs that have already successfully used these pathways to gain permanent residence status in Canada. A welcome new opportunity which is now also open to Vietnam as members of the CPTPP.
For a full text of the CPTPP agreement, click here to read more.
Become a Part of Canada
Contact Talent Solution Canada to learn more about which pathway is right for you.
Denis J. Desjardins, MBA, GPHR, RCIC
Regulated Canadian Immigration Consultant #R533327
Owner & Director
Talent Solution Canada – Immigration Services
Canada 1.506.300.3931
Toll-Free 1.833.300.3931
Tư Vấn Dịch Vụ Bằng Tiếng Việt +84(0)93-136-2405
[email protected]
www.talentsolutioncanada.com
