CPTPP – T50

What is CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) Visa T50

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement (FTA) between Canada and 10 other countries in the Asia-Pacific region: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The Agreement entered into force between Canada and Vietnam on January 14, 2019. For the remaining signatories, the CPTPP will enter into force 60 days after their ratification.

The CPTPP incorporates, by reference, a majority of the provisions from the original agreement: the Trans-Pacific Partnership (TPP). The CPTPP preserves the TPP’s high level of ambition on trade rules and market access, with updated procedures on withdrawal, accession and review of the agreement after entry into force. 22 provisions have been suspended from the TPP. Hence, they will not apply under the CPTPP. Canada also negotiated a number of bilateral side instruments with other CPTPP countries that build upon the Agreement’s outcomes and secure additional commitments in areas such as automobiles and culture.

CPTPP facilitates temporary entry to Canada for certain categories of business persons who hold citizenship in countries other than Canada that are signatories to the CPTPP. The CPTPP facilitates temporary entry for the following categories of business persons: Business visitors – paragraph 186(a) and section 187 of the Immigration and Refugee Protection Regulations, Investors – T50; Intra-corporate transferees – T51; Professionals and technicians – T52. In which Investor – T50 is the program for Vietnamese Businessmen/ Investor.

Who Can Apply For CPTPP – T50

The investor provisions of the CPTPP – T50 apply to applicants who:

• are citizens of Australia, Japan, Mexico or Vietnam
• will establish, develop or administer an investment to which the business person or their enterprise has committed or is in the process of committing a substantial amount of capital
• are in a supervisory or executive role or a role that involves essential skills

The requirements of this program is:

• At least 50% of the company established in Canada must be directly owned by an individual or corporate person with nationality of the treaty country.
• Enterprise must be a real and active undertaking which operates to produce some service or good for profit.
• A substantial investment must have been OR is in the process of being invested.
• “Investment” involves placing funds or other capital assets at risk in the hope of generating a profit or a return.
• No minimum dollar figure established for meeting the requirement of “substantial” investment.

The length of stay is 1 year, with possible extensions at the officer’s discretion if the applicant is able to provide documentation that satisfies the processing officer of the applicant’s need to have their stay extended.

How Can You Apply For CPTPP – T50

Step 1: Meet Requirements

Investor must meet all requirement for CPTPP – T50 before applying for Work Permit. Investor must indicate that:

• Applicant will establish, develop or administer an investment to which the business person or their enterprise has committed or is in the process of committing a substantial amount of capital.
• Applicant in a supervisory or executive role or a role that involves essential skills.

Beside that, Second Passport Incubator will consult you the best strategy to apply for a Work Permit and choosing the way to invest to their Canadian Business.

Step 2: Apply Work Permit

• Prepare all required documents.
• Provide proof of funds is available in a Canada Account. Investors need to prove they have enough money to invest in their business and the investment is available for use right when they come to Canada.

Step 3: Arrive and begin working in Canada

After landing, investors must use their funds to invest in their Canadian Business.

Step 4: Apply For Permanent Residence

There are a number of options and pathways to transition from work permit to permanent residency in Canada. However, the most popular one is the “Express Entry” program (EE), which allows owners, executives and professionals, who hold senior managerial positions, to apply for permanent residency through a job offer from their very own company in Canada.

Step 5: Apply For Canadian Citizenship

Once you become a permanent resident of Canada, and after having lived in Canada for 1095 days, you can apply for Canadian citizenship. In order to become a Canadian citizen, you must meet the following requirements:

• Be a permanent resident of Canada
• Have physically spent 1095 days in the last 5 years in Canada
• Have filed your annual income tax returns for the past 3 years
• Pass a basic test on your rights, responsibilities and knowledge of Canada
• Prove your basic language skills

Get Experienced Advice Before You Apply For Intra – Company Transferee Program

Second Passport Incubator team can help you move your business to Canada together with your family and business partners. You can focus on your business and we focus on your permanent residence in Canada. Email us or book a consultation to work with an immigration lawyer today!