As one of the best options for immigrants, the owner/operator work permit is still unknown among immigration applicants. Many would think that it costs a lot and cannot afford it. It is honestly true but somehow, think about how much you will pay and declare money for the federal and provincial programs; it would get close or almost the same. This is why people would say this is not the program for them. Few others try to gain funds, and after several months, they push through the process and eventually achieve positive results. In this blog, let us share with you how the owner/operator work permit is simplified.
A more straightforward outline of what a client wants to achieve:
- Own a business or buy a franchise in Canada
- Become your own employee
- Get a work permit to enter and work in Canada
- Apply for permanent residence
An overview of the Owner/Operator Work Permit
This immigration category is attracting business people and investors primarily because it needs a robust, comprehensive background. Selectively, some people take the risk and try it since it is foolproof considering requirements are thoroughly met. You should identify the type of business you wish to build up or purchase. You should include a profound business plan and be qualified as an owner/operator.
How to qualify as an Owner/Operator
It is not only all about investment. People think you only need a bunch of money for the owner/operator work permit. But you also need to be compliant with the following requirements:
- Actively participate in the management and have a remarkable record in managerial expertise. This is to ensure that your business is flawless and has excellent potential to be successful.
- You must have control of the business. It can mean you are the sole owner or have 50% and the above majority of the shares in your company.
- The business needs to convince that you are contributing to the flowering economy of Canada and must create or sustain jobs for Canadians or train them for better skills and aptitude.
- Include a detailed business plan that shows reasonable specifics and projections on your firm. It should also comprise your organizational strategy, innovative platforms, financial reports, and the like.
The factors mentioned above are pretty much mandatory. A Labour Market Impact Assessment o LMIA approval needs the same information for you to receive a positive result, which supports your application in general too.
Applying for LMIA
What is the purpose of an LMIA? A Labour Market Impact Assessment is a document given to Canadian employers that clearly needs to hire foreign workers. This is in lieu that no Canadian citizens or permanent residents are willing or can meet the job position or requirements advertised by the business. To simplify even more, an LMIA is permission from the government of Canada to hire foreign workers. This includes you, as the owner/operator. The Employment and Social Development Canada (ESDC) issues the document and monitors the business following the protocols. For instance, if the employer is fairly compensating the foreign worker.
Applying for Work Permit
Once you earn a positive LMIA, you can now apply for a work permit. Like any other skilled worker seeking entry in Canada, an owner/operator work permit is similar to a Temporary Foreign Worker Permit (TFWP). There is a separate fee for the LMIA application and work permit application, respectively. In addition, a biometrics fee will be applicable if requested by Immigration, Refugees and Citizenship Canada (IRCC).
A suitable work permit for you may depend on your eligibility, your current role, where you are from, and how your business can impact the Canadian economy and labour market. Other than that, most Canadian immigration programs conduct updates on their procedures and choose our path to suit you best.
Do you have further questions? Or want more options? Loft Immigration is more than willing to help you. Check your eligibility and fill out our assessment form here – https://loftimmigration.com/assessment/. You may contact us via WhatsApp +1 (647) 390-2283 or follow us on Facebook and Instagram – Loft Immigration – Licensed.