WHAT IS OWNER/OPERATOR LMIA?
OWNER/OPERATOR LMIA
Owner-Operator LMIA is a type of LMIA that allows an interested foreign investor to immigrate to Canada by investing in a business in Canada. The eligible applicant can apply for an Owner-Operator LMIA, and use this LMIA to apply for both or either one of Work Permit and/or Permanent Residence applications.
The applicant must be a controlling shareholder of the business they are investing in by owning more than 50% of the shares.
Also, the applicant must have managerial experiences in the last 10 years to prove that they have a capacity to operate a business in Canada.
Lastly, the applicant should propose a business plan on how they’ll run the business, and ultimately create a value to Canadian economy and labour force.
Our clients have successfully immigrated to Canada through this program by investing into Canadian businesses, and have become Permanent Residents of Canada.
OWNER-OPERATOR LMIA
Stakeholders Involved.
- Canadian Business Owner/Employer.
- Temporary Foreign Worker.
- 3rd Party Representative: Regulated Canadian Immigration Consultant, Immigration Lawyer.
- Service Canada.
- Lawyer (for Business Investment Transaction).
- Accountant (for Company Valuation).
- Landlord (for Office Space).
- Business Partner in Canada (who’s a Canadian Citizen or Permanent Resident).
Application Documents Required.
- Submission Letter (provided by 3rd Party Representative): Outlines overall table of contents of the application. This document is not mandatory, but highly recommended.
- Labour Market Impact Assessment Application Form (ESDC – EMP5593): Indicates overall LMIA application information such as company information, recruitment efforts, foreign worker’s name and job position applying for.
- LMIA Government Fee payment information is requested in this document. In this page, the business must disclose its payment card details for a Service Canada officer to charge the required payment.
- Organization Chart: Depicts the overall organization structure.
- Business Time Analysis Report: Displays company’s hours of operations, and explains why the business requires a particular job position.
- Job Description Report: Shows a particular job’s roles, duties and responsibilities that a foreign worker is expected to perform.
- Job Offer: Discloses a job offer between a Canadian business employer and a TFW.
- Recruitment Efforts: Describes overall recruitment efforts made by a Canadian business employer to hire local candidates first.
- This section includes job bank ad, job match activity report and advertisement posting copies of other 3rd party recruitment websites.
- Business License.
- Certificate of Incorporation.
- Financial Information: T2-100 (Balance Sheet), T2-125 (Income Statement), T4 Summary, 12 Months of PD7A (Payroll Deduction documents).
- Business Plan: Describes overall plan on how the business invested will be operated, managed, and grow in terms of financial, operation, marketing, human resources, etc.
- Foreign Worker’s Curriculum Vitae: Explains why the selected foreign worker is eligible and capable to invest in a specific business and operate the business, thus creating values to overall Canadian economy and labour force.
- Business Investment Transaction Documents: Includes but not limited to, Asset Purchase Agreement, Share Purchase Agreement, Company Minute Book and Article of Incorporation.
- Company Valuation Documents: A valid company valuation conducted by a certified accountant. This document is not mandatory, but highly recommended to ensure the business the foreign worker invests into is in fair market value.
- Lease Agreement: An agreement between a landlord and a tenant who will be leasing a particular commercial (office) space to run the business.
Job Post Requirement.
- Post the job position on Job Bank and other eligible recruitment websites as required.
- LMIA application can be submitted after 30 calendar days of the advertisement.