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The business Owner Operator program is for foreign investors. The program brings forth a window of opportunity for foreign investors who are looking forward to building a start-up in Canada on a work permit with a strong chance to become a permanent resident in Canada. This program is considered federal and is available all across Canada, therefore there is no quota like other business programs. This is one of the reasons that this program is very popular among foreign investors.
The temporary worker foreign worker program is a suitable program for all foreign investors who are looking forward to purchasing a business or launching a new entity.
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Most applicants require a Labour Market Impact Assessment (LMIA) from Employment and Social Development Canada (ESDC) and a job offer letter from their future employer to apply for a work permit or start a business in Canada. This usually entails advertising a job opening a month in advance and offering the job first to Canadians, First Nations, or Permanent Residents. However, under the Owner-Operator route, an individual has an exemption from this advertising requirement if they first offer the position to someone else.
Candidates should have either equal ownership or partnership in the business
This LMIA exemption is available to business owners who are eligible for an LMIA exemption if they own a controlling share in a business and cannot be fired.
A “controlling share” is defined as a sole proprietor, the only voting shareholder, or a shareholder owning at least 50.1% of the shares. The Owner-Operator must also be involved in the daily operations of the business while also working for the company. That is because the Owner-Operator is the majority or 100% owner of his or her own company, he or she cannot be fired as an employee. This is not an inactive (passive) investment strategy. As a result, the Owner-Operator manages the day-to-day operations of the company.
Profile evaluation and business comprehension?
Application for a work permit and creating an Express Entry profile?
After applying for the work permit for the profile, Initiation of the application for the PR.
You must own a majority stake in the company for which you want to be an owner-operator. If the business is a partnership or a corporation, you must be the sole owner or have a majority equity stake. The most basic indicator of business control is whether or not you can be fired from your position in the company. This is not possible if you have complete control of the company.
Simply purchasing a business and hiring yourself as an employee will not qualify you as an owner-operator. A critical factor is whether your presence in Canada and participation in the business will result in the creation of jobs for Canadians, as well as the transfer of skills or knowledge to Canadians.
Because the applicant must actively participate in the management of the business, the owner-operator work permit differs from a passive investment immigration programme.
You must develop a detailed business plan for the company and play a key role in its execution in Canada. Authorities will also examine your business plan to determine its viability, as well as your business expertise and the level of control you have over the business or venture, to determine whether you meet the requirement of actively managing the business.
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Is a proficiency test required to apply for this program?
What are the required documents for Business operated program?
Can family members join as main applicants?
After how long can you apply for PR in the owner’s work permit approved by LMIA?
How much funds can be considered sufficient for you to apply for the program?
First Step Consultancy can help get an ITA by creating your profile in Express Entry. After the LMIA has been approved, the process for obtaining a work visa is the same as it is for any other applicant under the Temporary Foreign Worker Program. After the LMIA has been approved, the process for obtaining a work visa is the same as it is for any other applicant under the Temporary Foreign Worker Program. Once your work permit is approved, you can begin working for your company and planning for permanent residence in the same way that any other skilled worker would. You can easily get sufficient points to get PR. We are there for you at every step.
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