The owner-operator LMIA is not a formal immigration program in itself; instead, it is a work permit issued under the federal Temporary Foreign Worker Program (TFWP). There is no fixed annual quota on the number of work-permits that can be issued.The Owner/Operator (LMIA) awards tremendous power to owner operator applicants to set the terms of qualification for their own entry into Canada.
The program permits the applicant immigration to any destination in Canada, and allows the candidate the privilege of choosing whether they intend to apply as a permanent resident, temporary work permit holder, or both. There is neither any regulatory requirement for minimum capital investment, nor job market advertising or recruiting.
The Owner Operator LMIA is one of the best options for business immigrants who can meet the Express Entry requirements but otherwise are not able to beat the cutoff score, as it may help in improving Comprehensive Ranking Score(CRS) by 200 points.
The candidate is required to submit a business plan for a project they intend to set up or purchase an existing business and outline how the operation will earn revenue and profit. The official reviewing the proposal will determine the project's potential commercial feasibility.
Work permits may be issued to foreign nationals( the applicant) whose proposed Canadian employer( The applicant’s business itself) has obtained an opinion from Employment and Social Development Canada (“ESDC”), which ensures that the job offer( to the applicant only) is genuine; and would likely have a neutral or positive effect on the Canadian labour market.
Once admitted on a work permit, candidates can at a later stage, apply for permanent residence to Canada under one of the many immigration programs. This can include the Federal Skilled Worker Program, under the Express Entry system, or under a suitable provincial (PNP) business immigration stream.
To qualify as an owner-operator, the foreign investor must have:
Through our established network of licensed professionals, we can help foreign investor-entrepreneurs to identify suitable businesses for sale in Canada. Once a suitable business is identified or purchased Or a new business is set up, with the help of our qualified RCIC and channel partners we will help you to complete the required business and immigration formalities.
There are multiple things that need to be factored in before we submit your application. Some of the key points are-
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