Canada Owner Operator Pathway
When it comes to business immigration programs, I.I.T.M has a cent percent record in attaining a Canada PRthrough its Owner-Operator pathway. The program ideally focuses on up-and-coming foreign businessmen, entrepreneurs, and self-employed individuals to arrivein Canada with the mind-set of establishing a new business or buying major shares in an existing profitable business in Canada.
By doing so the qualified business owners get the opportunity to apply for permanent residence under its many immigration programs and eventually acquire a Canada citizenship at a later stage.However, there is a catch to this pathway that is you need to be granted an LMIA from Service Canada or ESDC to own or operateand work in your own business in Canada.
With a positive LMIA, you are granted a temporary work permit based on your profile for which you’ll get sufficient points for arranged employment under the Express Entry system as a Federal Skilled Worker, to receive an Invitation to Apply for permanent resident Canada.
Who qualifies as an Owner-Operator?
To migrate to Canada as an owner-operator, the foreign national must have:
• Profound management experience that is verifiable and transferable.
• Sufficient financial backing to purchase the desired business in Canada.
• Languageabilities in English or French.
• Controlling interest in the business: owning more than 50% of the shares and cannot be dismissed from the business.
Though, ownership of shares is an important aspect itself but that does not guarantee you to be a qualifiedowner-operator but instead, your ability to actively engage in the management of the business and your prior experience in managing or operating a business is what governs your Canada immigration application.
What is the process for Canada Owner-Operator Pathway?
Once you qualify as an owner-operator, you can start your Canada immigration process by:
• Identifying a suitable Canadian business to establish or acquire.
• Submission of LMIA along with a suitable business plan.
• Once you get a positive response on your LMIA submission, you can apply for a renewable temporary work permit (12-24 months) at the management level.
How long does this process take?
Once you’ve identified your line of business to be established or purchased, LMIA will take 2-3 months to complete. In most cases, it will take less than 3 months to receive a work permit.
When can the Owner-Operator apply for Canada PR?
Actually, there is no waiting time. Within the first year of working in Canada, you and your immediate family members can apply for Canada PR i.e. if you qualify under any of the Canada immigration programs. This includes the Federal Skilled Worker Program, Express Entry system, and Provincial Nomination Program. The overall process takes less than 12 months to complete.