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Proof of Funds and Intra-Company Transfer

Proof of Funds and Intra-Company Transfer

Old Apr 26th 2015, 12:41 am
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Default Proof of Funds and Intra-Company Transfer

I secured my IEC WHP LOI on Friday and am going to be travelling to Canada next month to activate it and begin working for another branch of the company I currently work for in the UK.

The company immigration lawyers know I have secured the IEC permit, but want me to apply instead for an Intra-Company Transferee - Specialised Worker Work Permit. I think their logic is that this will score arranged employment points on FSW (not on EE though) and thus I wouldn't need to show proof of funds in order to obtain PR (I currently have less than ~$15k)

I'm reluctant to give up an open work permit for a closed one, when I only currently score in the low 400s on EE (so seem unlikely to be selected in the near future).

The only reason I'd consider opting for this is if I was sure that I wouldn't need to demonstrate proof of funds as an ICT-SW work permit holder with permanent job offer even though I have no LMIA. Anyone know whether you do or not?
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Old Apr 26th 2015, 1:06 am
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Default Re: Proof of Funds and Intra-Company Transfer

Express Entry is the only way to apply for PR now and even though my husband had an ITA through the FSW route of EE (LMO and working in the country) he still had to show proof of funds. They didn't give us a figure that we had to achieve though.

On a side note, what if something goes wrong with working for that particular company and you've given up an open permit? Seems risky to me especially when you have that option...
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Old Apr 26th 2015, 1:21 am
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Default Re: Proof of Funds and Intra-Company Transfer

Originally Posted by BTJ
I secured my IEC WHP LOI on Friday and am going to be travelling to Canada next month to activate it and begin working for another branch of the company I currently work for in the UK.

The company immigration lawyers know I have secured the IEC permit, but want me to apply instead for an Intra-Company Transferee - Specialised Worker Work Permit. I think their logic is that this will score arranged employment points on FSW (not on EE though) and thus I wouldn't need to show proof of funds in order to obtain PR (I currently have less than ~$15k)

I'm reluctant to give up an open work permit for a closed one, when I only currently score in the low 400s on EE (so seem unlikely to be selected in the near future).

The only reason I'd consider opting for this is if I was sure that I wouldn't need to demonstrate proof of funds as an ICT-SW work permit holder with permanent job offer even though I have no LMIA. Anyone know whether you do or not?
Do you even qualify for Intra Co as specialized knowledge. What your co thinks and what CIC say are 2 x different things. ICT are LMIA exempt and can apply for extensions.

International Mobility Program: Canadian interests – Significant benefit – Intra-company transferees [R205(a)] (exemption code C12)
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Old Apr 26th 2015, 2:00 am
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Default Re: Proof of Funds and Intra-Company Transfer

Originally Posted by Tirytory
Express Entry is the only way to apply for PR now and even though my husband had an ITA through the FSW route of EE (LMO and working in the country) he still had to show proof of funds. They didn't give us a figure that we had to achieve though.

On a side note, what if something goes wrong with working for that particular company and you've given up an open permit? Seems risky to me especially when you have that option...
I agree, hence why I'm extremely hesitant.
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Old Apr 27th 2015, 3:50 am
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Default Re: Proof of Funds and Intra-Company Transfer

Originally Posted by Tirytory
They didn't give us a figure that we had to achieve though.
I found useful info on this page : Proof of funds – Skilled immigrants (Express Entry)

The amount of money you need to support your family is set by the size of your family. We update these amounts every year.

Number of Family Members
Funds Required (in Canadian dollars)
1
$11,931
2 $14,853
3
$18,260
4 $22,170
5
$25,145
6
$28,359
7 or more
$31,574

You do not have to show that you have these funds if:
  • you have a valid offer of arranged employment in Canada AND
  • you are currently working or authorized to work in Canada.

15 k £ should do the trick.

Djaybi
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Old Apr 27th 2015, 4:02 am
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Default Re: Proof of Funds and Intra-Company Transfer

Just a thought... If you qualify for ICT under specialized knowledge that gives you potential to extend your work permit up to 5 years. This gives you much more time to establish yourself and gain PR than under IEC. Much less risk of 'limbo' if your work permit expires while you are still waiting.

Of course it depends on how much you enjoy your current job and how secure you feel it is.
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Old Apr 27th 2015, 4:15 am
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Default Re: Proof of Funds and Intra-Company Transfer

Originally Posted by mec
Just a thought... If you qualify for ICT under specialized knowledge that gives you potential to extend your work permit up to 5 years. This gives you much more time to establish yourself and gain PR than under IEC. Much less risk of 'limbo' if your work permit expires while you are still waiting.

Of course it depends on how much you enjoy your current job and how secure you feel it is.
My other thought is that I don't need to activate my IEC permit until April 2016. I could use ICT until next year and then move to IEC by flagpoling (if I'm allowed to?) Allows me to apply for PR now in the hopes of being selected, but leaves the option of open work permit of needed.
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Old Apr 27th 2015, 4:20 am
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Default Re: Proof of Funds and Intra-Company Transfer

Originally Posted by djaybi
I found useful info on this page : Proof of funds – Skilled immigrants (Express Entry)

The amount of money you need to support your family is set by the size of your family. We update these amounts every year.

Number of Family Members
Funds Required (in Canadian dollars)
1
$11,931
2 $14,853
3
$18,260
4 $22,170
5
$25,145
6
$28,359
7 or more
$31,574

You do not have to show that you have these funds if:
  • you have a valid offer of arranged employment in Canada AND
  • you are currently working or authorized to work in Canada.

15 k £ should do the trick.

Djaybi
Yeah I found that page...but the CIC certainly didn't direct us, I guess because he does have temp work permit. In the end we gave proof as the above for five of us.
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Old Apr 27th 2015, 4:30 am
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Default Re: Proof of Funds and Intra-Company Transfer

Originally Posted by BTJ
My other thought is that I don't need to activate my IEC permit until April 2016. I could use ICT until next year and then move to IEC by flagpoling (if I'm allowed to?) Allows me to apply for PR now in the hopes of being selected, but leaves the option of open work permit of needed.
I don't have much experience with IEC, but it does sound logical that could could keep it as a backup plan in case of issues with your employer.

Then next year you could make a call on switching, or staying on your ICT depending on how processing time are looking.

Disclaimer: This is an assumption based on common sense rather thank detailed knowledge of the rules. I would wait for someone more authoritative to come along
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