Business Immigration – LMIA Based
LMIA Based - Business Immigration
Within the TFWP, there is a specific category of applications known as LMIA-based Business Immigration, which enables qualified individuals who are self-employed to enter Canada through the establishment or acquisition of a firm. If a foreign national can prove they own a majority of the company and cannot be fired or demoted, they will be considered the owner and operator (only answerable to themselves). According to rules and regulations, controlling interest can be developed either:
- Purchasing a business and be involved in its day-to-day operations (being a sole proprietor)
- By being the majority shareholder (holding at least 50.1% shares) or
- By providing an official document confirming that they hold the majority interest (even if they do not hold 50.1% of total shares).
A foreign national does not need to own a certain minimum percentage of shares to qualify as an Owner/Operator. When there are many owners of a business, Service Canada must receive LMIA applications from the largest shareholder or the equal shareholder designated as the “employer” for the other co-owners as “employees.” The term “Owner-Operator” does not apply to those who get only shares as part of their compensation (i.e., not enough to form a controlling interest). When submitting their application and throughout their employment in Canada, the foreign nationals must show that they own the controlling stake.
The foreign national or investor bears the burden of proof in an owner/operator LMIA application by supplying data or documentation demonstrating their ownership/shareholding status.
Advantages of Owner / Operator LMIA
- No minimum net worth requirement or non-guaranteed investment in a designated investment fund of the Canadian government is necessary.
- Based on a favourable owner/operator LMIA, a foreign national or investor can apply for a work permit.
- Owner/operator LMIA receives 200 points under the Comprehensive Ranking System (CRS), and foreign nationals/investors may use the express entry programme to apply for permanent residence.
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- Unit 202 & 203 20538 Fraser Highway Langley, BC V3A 4G2
- Canada : +1 (604) 355-3883
- canada@tenonimmigration.ca
- India: +91 8451862421
- india@tenonimmigration.ca