Own & Operate Business in Canada
Owner Operator LMIA
Owner Operator LMIA
Pathway to Canadian permanent residence & citizenship
The Canadian economy is booming, and its ecosystem is ranked top 10 globally for starting your business. Every year thousands of international businessmen purchase small businesses in Canada or start their new firms to gain access to the lucrative North American market. These businesses range from bakeries and restaurants to consulting and production firms.
Benefits of the program
Canada allows owners of such businesses to receive owner work permits, which in turn through many other immigration vehicles can establish a solid pathway to permanent residence and eventually to the Canadian citizenship.
One of the benefits of immigrating to Canada through such owner work permit is that unlike many provincial business and investor immigration programs, this program does not explicitly ask for a minimum investment. Also, unlike provincial business, entrepreneur and investment programs, this program is relatively faster root to immigration.
How to qualify
To qualify as an owner or manager of the business in Canada, the foreign investor/employee must be able to establish a level of controlling interest in the business. This could be achieved either through getting a majority of shares, stakes or plurality of shares. It must be established that the foreign investor/employee can not be fired from the business and must be actively engaged in operating business. This does not mean that the day-to-day operations must be on investor/employee, just the overall business management as a responsibility is enough. This, disqualified those who are only interested in passive investment, meaning investing in business and not being involved in managing that business.
Worth to note that the knowledge of English or French is not required. The regulatory body allowed the use of translators for your interview. During such an interview it is important that you understand the business operations very well and the duties your will be performing once you arrive in Canada.
However, if you ultimately interested in applying for permanent residence and later for citizenship, it is imperative that you are prepared to spend some time to improve your English language.
Your experience in managing business is important factor in assessing your genuine intention to manage or operate business in Canada.
Your options are:
You can structure your purchase of business in such a fashion that would minimize your risks if your immigration documents are refused. Such purchases are called pending purchases. All what it means is that you negotiate the purchase of business with the condition that the immigration documents will be approved. Money in escrow, which is a third party, such as a bank, that holds your funds, until the conditions of the transactions are met, such as purchase of business only if you receive a work permit. This is one of the factors that the immigration officers will review in assessing the genuity of such purchase. Business plan is another factor that will be considered by the immigration officers. However, this by no means is a complete list of factors.
Getting your new business up and running
Prior to applying, your newly established business should be in operation, providing goods and services. The following will be reviewed in order to decide whether the business is in operation:
As your trusted partner, licensed consultants at Moirai Reach Immigration Consulting, will take an individual approach, and will guide through the difficult maze of owner/operator LMIAs
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