Effective April 1, 2021, candidates applying under the owner/operator category will be evaluated on the same level as other Temporary Foreign Worker Program (TFWP) applicants.
Employment and Social Development Canada (ESDC) said that after reviewing its policies, they decided to remove this exemption. By removing the exemption, ESDC will ensure TFWP runs effectively within its intended purpose and is only used when employers do not find any qualified Canadians or permanent residents to fill a position.
Currently, candidates falling under the owner/operator category were exempted from advertising and recruitment requirements for finding a positive Labour Market Impact Assessment (LMIA).To find out which Canada work permits require LMIA, see Do all Canada work permits require an LMIA?
Who qualifies under the Owner/Operator Category?
Candidates who wish to buy a business in Canada and move to the country to manage it qualify under this category. They should have:
To qualify under the TFWP, a foreign employee-investor can do one of the following:
Is a Minimum Capital Net Worth Required?
No, a minimum net worth isn’t required. You can open a new business or purchase an existing one.
What is the Processing Time?
The processing time is anywhere between 5-8 months (approx.). This includes work permit application after the complete application has been submitted.
In short, this is the entire process:
How Can I get Canadian Permanent Residency (PR) under this Program?
When the candidate receives the work permit, they can apply for a Canadian PR at a later stage. The application for Canada PR can be made under either the Federal Skilled Worker Program (FSWP) under the Express Entry system or an appropriate suitable provincial immigration stream.
If you apply under FSWP, you get an additional CRS 50-200 points (normally CRS 200 points) for the job offer. Benefit being, you get additional and significant amount of CRS points to get an Invitation to Apply (ITA).
To know more about this category and how to apply, see “Obtaining Canada PR as a self-employed person or as an owner of small business”.
If you are looking to Work, Study, Invest, Visit, or Migrate to Canada, talk to Y-Axis, the World’s No. 1 Immigration & Visa Company.
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