Who is an Owner Operator?
As the name proposes, Owner-Operator, is a term used to define a foreign national who owns the controlling interest (50.1%) in the business, in simple words – operate the business they own.
The business can be a:
- Newly incorporated company in Canada and must have controlling interest
- Own a minimum 50.1% of existing business in Canada
- Partnership is allowed as long as the applicant is holding a non-dismissible position i.e. most superior position in the company
What are the requirements for Owner Operator?
- Must have a senior management experience or ownership experience in last 3 out of 5 years.
- Active investment ONLY – NO PASSIVE INVESTMENT under this program and must be paid above median wage as per the position obtained
- Create jobs for locals through a business that the applicant plans to launch
- Hold the most superior position to avoid being fired
- A detailed business plan to show (timeline of events) how the ends will meet (financial plan) and employment will be created/sustained during the course of the application which must be convincing enough to have ESDC incline towards making a positive decision.
Why Owner Operator?
The most fastest and efficient active immigration investment program leading to PR in little time. The business owner doesn’t need to go through the tedious process defined by various provinces through their provincial investment programs whereas they can just invest and get settled anywhere in Canada except Quebec. The issue free smooth out of procedure pulls in them towards Canada, along these lines, making Canada home to numerous settlers.
As long as the foreign national has a feasible and realistic business plan and the transaction is authentic (the onus is on the applicant to prove this through various means), the probability of a positive –owner-operator LMIA prevails. Factors outlined above are the contributing factors for applying under the owner-operator program versus other business programs available through IRCC.
These positions are for business owners only. They are not intended for individuals receiving shares as part of a compensation package. To qualify as an owner/operator, foreign nationals must demonstrate prior to submitting their application, and for the duration of their employment in Canada:
- they have a controlling interest in the business:
- by being the sole proprietor
- by being a majority shareholder (hold a minimum of 50.1% of the shares)
- by providing an official document to confirm that one shareholder has controlling interest
- they cannot be dismissed
- Variation: no advertisement or recruitment is required
- Applicability: all provinces and territories
Further, owner-operator LMIA applications are also exempt from advertising requirements where the employer intends to employ a TFW has to first advertise the position to Canadian Citizens and Permanent residents
How to prove ownership of the Company?
- Share certificate or
- The article of Incorporation or
- Attestation letter from CPA
- Share sale-purchase agreement and
- Proof that you already paid or has an available fund to pay for the controlling shares through a bank statement.
How much investment do we need?
There are no set guidelines available for the amount of investment capital. However, the quoted price should pass the genuineness test of the program.
Will the owner-operator lead us to Permanent residency to Canada?
Once a positive Owner/Operator LMIA is granted, client can apply to Immigration, Refugees and Citizenship Canada for a work permit or PR if points meet the minimum threshold criteria. The work permit is valid for the same period of validity of LMIA i.e. 2 years.
After the work permit is granted, in most cases you will be able to apply for Canadian permanent residence through the Express Entry system. You will get additional points (200 points) for a job offer that your own company makes to you, the applicant. Eligible Candidate will lead to permanent residency under any applicable stream (Provincial or Federal) open to Temporary foreign workers. Please note eligible Candidates will get additional points under Arrange employment offer factor, giving an edge over the rest of the express entry Candidates.
Can my family stay, work or study in Canada?
In general Owner Operator belongs to NOC O, A, and B in which dependents of the successful applicants can work or study after getting approval from IRCC.
In which province we can apply?
Owner Operator is a Federal Government program which is applicable in all the provinces and territories except Quebec.
What is the success ratio of such an application?
The success ratio of such an application relies on the authenticity of the business, meaning, if business is good then LMIA will be granted subject to meeting other criteria.
How can Canoscope Immigration help us in such applications?
We have so far a demonstrated history for these applications. Our administration with 15 years of experience and prepared staff is equipped for speaking to your application, composing a field-tested strategy, and underlining the reality your venture/business will be ideal to work for the Canadian economy and work advertise.
Contact :- CANOSCOPE IMMIGRATION LTD.
Unit 206 – 12885 80th Avenue, Surrey, BC – Canada
New Delhi, India and Vancouver, Canada