Owner – Operator LMIA
A pathway that will help you immigrate to Canada, even if you don’t score enough points in the economic immigration programs is called owner-operator. There are different opportunities for entrepreneurs who have the finance to start their business in Canada in order to immigrate to Canada.
About
Owner – Operator LMIA Criteria
So, if you run a business or want to buy a business in Canada, look into some criteria to see if you’re qualified. You should:
- Be a sole or majority shareholder, i.e. show that you have a scheming interest in the business.
- Show that your entry into Canada would outcome in the creation or retention of jobs for Canadian permanent residents/citizens
- Be independent of any senior management. You should occupy the highest position of power in the company and not be liable to any greater.
Owner – Operator LMIA Requirements
Owner-operator LMIA’s other requirements include:
- You should show how you would fund the business and make or maintain employment. The business plan should be convincing. You should convince the officer of employment and social development in Canada that you understand what you are doing.
- You should be involved actively in the business. You must show that you’re not making a passive investment.
- Show an intention to hire Canadian citizens or permanent residents (preferably, in the initial year of the business).
FAQ
Frequently Asked Questions
What Is Owner – Operator?
The owner-operator is a pathway that will help you immigrate to Canada, even if you don’t score enough points in the economic immigration programs.
Is There Any Minimum Requirement For This Program?
No, there is not any minimum requirement for this program. But, the owner should be prepared financially to support start-up operations, including but not limited to covering expenses linked with the office lease, salaries, marketing, and costs of items or goods.
While On A Tourist Visa, Can We But A Business In Canada?
Yes, you can buy a business in Canada while being on a tourist visa. Although, you would have to meet specific requirements and the laws differ relying on the kind of business you purchase as well as the province in which it would operate.
After Purchasing A Business In Canada Do I Have To Relocate To Canada?
Yes, being a business owner, it is expected that you would manage your business in Canada actively. Hence, your presence in Canada is required. But this doesn’t mean that you can’t travel while working in Canada, particularly if your business needs extensive travelling outside of Canada.
Do You Have To Get A Salary From Your Business In Canada Under This Program-Based Work Permit?
Being a manager of your business in Canada, you should pay yourself a salary that meets the Canadian median wage standards under this program-based work permit.
Can You Purchase A Business With A Partner In Canada And Get A Work Permit Under This Program?
Yes, you can purchase a business with a partner or purchase shares in an existing business in Canada. But the partner who has fifty percent shares in the business could only apply for this program and get a work permit to manage the Canadian business.
Does The Owner Operator Have To Be In Canada To Apply For LMIA?
No, but if it is your second-time applying for owner-operator LMIA to extend a work permit or support application for permanent residence, then you might have to provide evidence of your work in Canada.
Do You Have To Prepare A Business Plan For the Owner Operator LMIA Application?
It is not compulsory to submit a business plan if the business is in operation for as many years. A business plan is needed for start-up businesses.
Four Steps
The process of moving to Canada under owner-operator LMIA consists of four steps:
- Select a Canadian business to purchase or establish
- Apply for an LMIA along with an appropriate business plan.
- After getting a positive LMIA, apply for a work permit for about two years.
- During the initial year of employment in Canada, an entrepreneur, and his family would be capable to apply for immigration through one of the federal or provincial immigration programs.
Document Checklist
Your work permit most likely would be valid for one to two years, relying on the business nature.
- Evidence of ownership of the Canadian company
- Confirmation of enough finances in the bank account for the Canadian company.
- Applicant’s personal credentials like diplomas, work references, marriage certificate, passport, bank statements, etc.
- Business plan for a Canadian agency (could be given by an attorney in Canada).
Requirements
Owner – Operator LMIA Benefits
- There’s no need of having a specific total net worth or making any non-guaranteed investment in a Canadian government-designated investment fund.
- Foreign workers could apply for a work permit based on positive owner-operator LMIA.
- Owner-operator LMIA awards two hundred points under CRS and, a foreign worker could apply for permanent residency through the express entry program.
Approach
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Completion
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