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Owner/ Operator LMIA-Based Work Permit

Dreaming of working in Canada? The LMIA Owner/Operator Work Permit might be your golden ticket! To qualify, you, as a foreign national, need to showcase a significant controlling interest in a business—be it as a sole proprietor or majority shareholder. This program not only fulfills your professional aspirations but also contributes to Canada by creating or retaining job opportunities for its residents.

Labor Market Impact Assessments provide employers with the opportunity to fill a labor shortage within their company. Various types of LMIA’s are available and determining which one is best for your company is an important decision before applying. LMIA’s are subject to intensive scrutiny by Employment and Social Development Canada (ESDC), also known as Service Canada. As such, LMIAs must be error-free.

Key Features Owner/ Operator LMIA-Based Work Permit

  1. Viable Business Plan: Craft a solid business plan and bring your entrepreneurial spirit to life. There’s no minimum net worth requirement, and you can either purchase an existing business or start a new one.
  2. Processing Time: Approximately 5-8 months, covering the entire application, including the work permit.

Owner/Operator LMIA Qualifications

It is important to note that, as with any employment opportunity in Canada, Employment and Social Development Canada (ESDC) closely monitors the process of owning or operating your own business and applying for the respective LMIA. The purpose of this is to ensure that you meet the program’s requirements and that the business venture is positive.

ESDC stipulates the following qualifications for foreign nationals who wish to own or operate businesses in Canada:

  • You need to be a business owner in Canada
  • Own 50 percent or more of the company
  • Assert that temporary entry into Canada will create or retain employment opportunities and/or skill transfer for Canadians and permanent residents
  • Must hold a position within the company that cannot be dismissed or be accountable to someone more senior
  • A business plan should include a financial projection, a timeline, and a description of how the individual plans to create or maintain employment within the company.
  • The foreign national must demonstrate that the business is managed actively, rather than passively, that they possess the qualifications and experience necessary to hold the position they desire within the company, and that they can earn a wage that is at or above the median wage
  • A business plan must include a commitment to hiring at least one Canadian citizen or permanent resident within the first year

Almost all foreign nationals granted a positive LMIA for owning or operating their own business in Canada seek permanent residency shortly thereafter.

Owner-Operator of the Temporary Foreign Worker Program

Consider acquiring or launching a business in Canada under the Temporary Foreign Worker Program. Successful visa holders can transition to permanent residency in less than a year, either through a provincial program or the Federal Skilled Worker Program.

The foreign investor should consider purchasing an existing business or starting a new one in Canada, and obtaining a work visa as a management employee to relocate to Canada. Under the Temporary Foreign Worker (TFW) program, revised federal policies are gaining considerable attention among new business owners.

A foreign employee-investor can qualify for a work permit as a TFW if they create a new business, acquire an existing Canadian business, or invest substantially in it. There must be a transfer of knowledge to Canadians and the acquisition of the business by the foreign national must, among other conditions, result in Canadian jobs being created or retained.

For self-employed individuals, a clear employer/employee relationship must be established, even without a traditional job offer. The business plan or share purchase contract becomes pivotal in this scenario.

Existing Businesses—Different Stages

  1. Complete Purchases: If the purchase is finalized, provide the necessary documentation and satisfy job creation/retention requirements.
  2. Pending Complete Purchases: Assess the genuineness of the project based on transaction progress and the strength of your business plan.
  3. Partial Purchases: Foreign nationals entering as new management employees undergo evaluation, considering business profitability and their role.

The Labour Market Impact Assessment (LMIA)

This regulatory tool determines if a Canadian exists for a specific job. Owner/operator LMIA exemptions focus on job offer genuineness, job creation/retention, and skills transfer, with effective communication skills being a critical factor.

Permanent Residency Pathway

Once you secure an LMIA work permit, you can later apply for permanent residency under the Federal Skilled Worker Program or a provincial immigration stream, gaining additional CRS points for the job offer.

Your journey starts here! Embark on your Canadian work adventure with the LMIA Owner/Operator Work Permit Program. Connect with ImmigCanada Immigration Consulting Services, your guide to a thriving professional life in Canada! For more information, contact us today!