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Establish or Buy a Business in CanadaOwner/Operator LMIA-based Work-Permit
This program allows business people to either purchase an existing business or establish a new one in Canada to work in that business in a managerial capacity. In this program the applicant, by virtue of becoming the employee of his/her own business in Canada, will be eligible to obtain a two years work-permit under Temporary Foreign Worker Program. The acquired Canadian work experience will then make the applicant eligible for acquiring Permeant Resident status under the Express Entry program.
Owner/Operator LMIA-based Work-Permit at a glance
| Legal Ground | Temporary Foreign Worker Program |
| LMIA Requirement | No advertisement/recruitment LMIA is required |
| Eligibility | – Having a controlling interest in the business (sole proprietor or majority shareholder (more than 50%)) – Employed in an essential position (cannot be dismissed) |
| Requirements | – Funding the business and maintain employment with a salary equal to or greater than the median wage requirements for the position – Active Management of the business in Canada – Detailed business plan – Employing at least one Canadian citizen or permanent resident |
| Performance Obligations | None |
| Financial/Investment Requirement | There are no investment obligations but the foreign company must prove sufficient financial ability to start operations in Canada. This amount varies depending on the type of business, but in general cannot be less than CAD 100,000. |
| Required Supporting Documents | – proof of Canadian business ownership – proof of sufficient funds to operate the business in accordance with the Business Plan – applicant’s personal documents (i.e. resume, education, financial ability and etc.) – Detailed business plan |
| Visa Validity and Renewal | Up to 2 years depending on the business |
| Family Members | Transferee’s spouse may get open work permit Transferee’s children under 22 years old may get study permit |
| Work Permit Social Benefits | -access to free health care for transferee and family members -access to free education for children (up to and including secondary education) |
| Processing Time | 2 weeks – 3 months (depending on the country of applicant) |
| Permeant Residency Prospect | Very high particularly under the Canadian Experience Class of the Express Entry program |
Frequently Asked Questions
What to expect from the first meeting with your solicitor?
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The divorce process: filing the paperwork and timescales
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Making arrangements for children and family finances
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