Overview

Canada provides one of the most streamlined processes for getting a Permanent Residence. However, for investors with some access to capital and management experience, the process can be expedited with the Owner-Operator LMIA.

The program serves as a great alternative to provincial investment programs that are geography-specific. With Owner Operator LMIA, you can directly acquire or establish a business in Canada, appoint yourself as its key employee, get a work permit, and later work towards a permanent residence.

Launch Immigration stands as your partner of choice throughout the process providing your resources, advisory, consulting, documentation, and other services necessary to simplify the process and help you take a step closer to your Canadian dream.

Eligibility Criteria

The eligibility criteria have been structured to suit three purposes:

1. Establish the applicant's competence in terms of management experience, investing history, linguistic abilities, and operational expertise.
2. Ensuring that while the applicant will be an employee of the acquired business, she/he will be the majority owner. This ensures that the applicant cannot get dismissed from the role.
3. Adequate net-worth or reasonable access to capital for acquiring, growing, and operating a business.

Understanding these three principles will give you enough insight into the eligibility criteria. In general, as an applicant for the Owner-Operator LMIA program, one is supposed to:

• Have a history of having run, invested in, or acquired a business. This experience is the most linear way to prove that you can acquire and run a business, unlike investor-only programs in other countries where you can simply acquire a business and work towards a Permanent Residence.
• Have proven linguistic skills in either English or French. These skills are used as the baseline to evaluate the applicant’s competence for running the business with local employees.
• Have access to capital or assets that can be utilized for acquiring at least 50% of stakes in a business in Canada.
• Have a viable business plan that will benefit Canada by technology transfer or by creating jobs for the populace. You will be asked to submit a detailed business plan reviewed by the authorities to ensure the business will add value to the Canadian economy.

Having satisfied each one of these criteria will make an applicant eligible to apply for the Owner-Operator LMIA program. To qualify for a Temporary Work Permit, the application must get successfully approved by the Canadian authorities. The Launch Immigration team ensures that the entire process is executed as per the necessary laws and the probabilities of a successful application are maximized.

Benefits of the Owner-Operator LMIA Program

One might wonder how is the Owner-Operator LMIA program better than its alternatives. It is a sophisticated program that entails bringing entrepreneurial expertise and capital to the Canadian economy. For the applicant, there is a large set of possible benefits:

1. One of the fastest routes to a permanent residence.

The entire application process lasts for 60 to 90 days, at the end of which, the applicant may receive a temporary work permit allowing her/him to work in Canada as a professional for the next 12-24 months. Once this period is over, the individual might be eligible to apply for a permanent residence, given she/he meets other criteria like the success of the business, linguistic abilities, etc.

2. Eliminates the hassle of locating a job.

For several international immigrants, locating a job and going to graduate school are the only options to immigrate to Canada. The Owner-Operator LMIA allows seasoned and young business operators to use their assets and skill-sets for creating their opportunities.

3. Gives the incubation period for exploring the Canadian economy.

TThe period of working on the temporary permit allows the owner-operator to explore the Canadian economy. This is one of the few programs that does not limit the business scope to a particular geography, allowing applicants to explore a full breadth of opportunities in Canada. The period can be used to test the markets and decide whether further investments are worthwhile or not..

The Process of Applying for a TFWP with the Owner-Operator LMIA Program

1. Locate a Business in Canada.

The first step is to locate a promising business in Canada and ensure that it is available for acquisition. The business should have a registered business number with the Canada Revenue Agency, the necessary permits to operate in its industry, and the ability to sustain itself. In addition to this, you will have to determine whether you would be the sole owner of the business or take a majority stake. In case your acquisition is made contingent on your successful Owner Operator LMIA application, you can set up an escrow account and proceed. The Canadian authorities will be interested in assessing three things:

2. Eliminates the hassle of locating a job.

For several international immigrants, locating a job and going to graduate school are the only options to immigrate to Canada. The Owner-Operator LMIA allows seasoned and young business operators to use their assets and skill-sets for creating their opportunities.

3. Gives the incubation period for exploring the Canadian economy.

TThe period of working on the temporary permit allows the owner-operator to explore the Canadian economy. This is one of the few programs that does not limit the business scope to a particular geography, allowing applicants to explore a full breadth of opportunities in Canada. The period can be used to test the markets and decide whether further investments are worthwhile or not..

1. The health of the business and its prospects.
2. The business plan’s merits.
3. Your ability to run the business and create or sustain jobs for Canadians.

You can also establish a business under the same program. However, experts would strongly recommend you to consider the Startup-Visa Program if you want to develop the operations from scratch.

2. Apply for a Labour Market Impact Assessment.

The applicant is supposed to submit an LMIA report alongside a business plan that lays out the prospects of managing the operations. Owner Operator LMIA applicants are exempted from the advertising limitations levied on applicants of other programs. You will be supposed to submit proof of English or French proficiency, which is equivalent to getting a CLB 5.0 or higher. The further process will be required only when your LMIA has been accepted.

3. Temporary Foreign Worker Program.

Once the LMIA has been accepted, you can apply like any other foreign applicant for a temporary and renewable work permit. This will allow you to work for a 12 or 24-month period. From here, your application will be closer to that of any other applicant seeking permanent residence. You will create an Express Entry Profile and will be eligible to apply under a Skilled Worker Program. Since your business offers you a job, you will get the coveted 200 points necessary for EE applicants to access an ITA. Alternatively, you can also apply for a provincial nomination and get 600 points to obtain permanent residence.