March 09, 2021
As an entrepreneur who is interested in starting a business in Canada, you may have heard of the Labour Market Impact Assessment (LMIA). This is the process that all Canadian employers must undertake in order to hire a foreign worker.
The process involves the employer providing evidence to suggest that the position to be filled by the foreign worker cannot be filled by a Canadian citizen or permanent resident. The business owner must demonstrate that the foreign worker possesses the unique skills necessary to meet the needs of the company.
Entrepreneurs who establish their own business in Canada can avoid the complicated and lengthy LMIA process if they qualify for the Owner-Operator LMIA. This is a simplified LMIA process which allows qualified business owners to secure an LMIA without having to go through the process of proving that no Canadian citizens or residents can fill the position in question.
Who is the Owner-Operator LMIA for?
The Owner-Operator LMIA is only available to foreign nationals who are interested in buying a business or establishing their own in Canada.
The Canadian government tends to look favourably on skilled foreign nationals coming to Canada to establish a viable business. The foreign national is seen to be bringing their valuable skills and experience. Their business will contribute positively to the Canadian labour market by creating jobs for Canadians and stimulating the economy.
For this reason, the Canadian government considers the potential impact of the business on the economy and labour market rather than assessing the individual. If a business intent presented by the owner-operator appears viable and likely to have a positive impact on the Canadian economy, the business person will be invited to move forward in establishing the business and relocating themselves and their family to Canada on a work permit basis.
What are the advantages of an Owner-Operator LMIA?
The Owner-Operator LMIA has many advantages compared to the traditional LMIA process.
When applying for an Owner-Operator LMIA, business owners are not required to conduct an obligatory 30 days advertising process to demonstrate extensive efforts to find a Canadian citizen or permanent resident to fill the position in question. Qualified foreign nationals must submit business plans demonstrating that they will play a key role in managing the business and that the business has the potential to grow and create openings for Canadian citizens and residents. Under the owner-operator LMIA process, the government allows qualified foreign nationals to bypass the typical requirements associated with obtaining an LMIA, saving them valuable time and money.
In addition to the many advantages already stated, qualified business professionals who obtain an Owner-Operator LMIA are potentially eligible to receive up to 250 additional points toward their CRS score, which may l place them at the top of the pool of candidates for Express Entry and virtually guaranteeing the candidate an invitation to apply for Canadian permanent residence within Canadian Experience Class of the Express Entry stream
This makes the Owner-Operator LMIA a highly attractive option for any foreign national entrepreneur who is interested in establishing himself in Canada on a permanent basis.
