Owner Operator Visa
Owner Operator Visa
In Canada, a thriving investment environment offers lucrative business prospects to entrepreneurs looking to engage in its development. However, foreign workers generally require a positive Labour Market Impact Assessment (LMIA) to enter Canada for business purposes. Foreign nationals who both own and operate a business in Canada can apply through a specialized visa category known as the Owner-Operator Work Permit or Visa.
Operating a business under the Owner Operator Visa, also referred to as the Entrepreneurs/Self-employed category, enables foreign nationals to engage in business activities in Canada. If you’re a foreign national aspiring to manage a business in Canada, we can guide you through the Owner-Operator Visa application process. With extensive experience in this realm, we have assisted numerous foreign nationals in realizing their dream of participating in Canada’s thriving business environment.
Types of Owner-Operator Work Permits
Owner-Operator work permits come in two categories:
- Owner-Operator work permit based on LMIA
- Owner-Operator work permit under the International Mobility Program
Qualification for LMIA-Based Work Permit
To be eligible for an LMIA-based work permit, a foreign national must demonstrate the following:
- Hold a permanent position within the organization that cannot be terminated.
- Possess ownership of at least 50 percent of the business.
- Earn a wage equal to or greater than the median wage for the respective position.
- Have a business capable of creating employment opportunities for Canadians or permanent residents.
- Commit to transferring skills or knowledge to Canadians or permanent residents.
- Present a viable business plan and strategies to implement it, including financing arrangements, office setup, and obtaining a business number.
- Possess relevant expertise to enhance business feasibility.
- Commit to hiring at least one Canadian or permanent resident within the first year of business operations.
Notably, LMIA-based categories differ from other LMIA requirements, and specific recruitment conditions are not applicable to the Owner Operator LMIA.
An advantage of the LMIA-based Owner-Operator Visa is the additional points it provides under the Express Entry Comprehensive Ranking System (CRS) matrix. Senior managers (NOC 00) holding an Owner-Operator Visa based on an LMIA can earn an extra 200 CRS points, significantly enhancing their chances of selection from the Express Entry pool.
Owner-Operator Visa Under the International Mobility Program
To qualify for an Owner-Operator work permit under the International Mobility Program, foreign nationals must fulfill these conditions:
- Demonstrate ownership of at least 50 percent of the business.
- Showcase the business's potential to bring significant economic, social, or cultural benefits to Canada.
- Ensure the business generates employment or offers unique services for Canadians or permanent residents.
- Establish the business's viability and its positive impact on Canada and its citizens.
- Possess the necessary expertise/experience to enhance business feasibility.
- Fulfill all essential aspects of business management, such as funding, office space, and official business registration.
Additionally, an Offer of Employment (Employer Compliance) application must be filed with Immigration, Refugees, and Citizenship Canada (IRCC).
Additional Conditions
If the foreign national owns less than 50 percent of the company’s rights, obtaining an LMIA as an employee of the company is necessary. Furthermore, only one owner, even if there are multiple official owners in the organization, will be permitted to obtain an Owner-Operator Visa.
Foreign nationals applying for an Owner-Operator visa can temporarily visit Canada to operate a business or eventually pursue permanent residency. For those with dual intent, convincing the reviewing officer of their intent to leave Canada at the end of their temporary stay is essential.
For guidance on your Owner-Operator Visa journey, reach out to us. CVS Investment Group stands as a prominent name in professional immigration solutions in Canada. Our experienced professionals are adept at aligning strategies with your aspirations, ensuring success in your Canadian endeavors.
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