What is An Owner/Operator LMIA?
An Owner Operator LMIA is an application that allows business owners to obtain work authorization within their own company and who have an active involvement in the operations. The individual must meet strict requirements that the ESDC has required.
Requirements for Owner/Operator LMIA
As with any employment the Employment and Social Development Canada (ESDC) monitor opportunity that you wish to benefit from in Canada, owning or operating your own business and applying for the respective LMIA, closely. This is to ensure that the business venture is constructive and that you meet the requirements of the program.
The qualifications stipulated by the ESDC concerning the LMIA for foreign nationals that request to own or operate their business in Canada are as follows:
- Own a business located in Canada
- Hold 50% or more of the ownership in the business
- Provide evidences that through the temporary entry to Canada there will be an establishment or retention of employment opportunities and/or skill transference offered to Canadians and permanent residents of the country
- Must hold a position within the business that cannot be discharged or is liable to a more high ranking associate of the company
- Provide a business plan that demonstrates how the business will be funded with the attachment of a fundamental financial plan and timeline of events, as well as an outline as to how the company owner will generate or maintain occupation within the company
- Provide evidence of the functional management of the business by means other than through passive investment, in which the foreign national can provide possession of the qualifications and experience to hold their intended position within the company that will allow them to earn a wage equal to or greater than the median wage requirements for the position
- Must agree to hire at least one Canadian citizen or permanent resident of the country within the first year. This must be explained and included in business plan
Most foreign nationals that are granted a positive LMIA for owning or operating their own business in Canada, soon after, seek the appropriate stream towards permanent residency.
With the complication of this program, you will find that working with CETI Immigration Consultants Inc. can be a optimistic factor in this process when you want to own a business in Canada.