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).

Who qualifies under the Owner/Operator Category?

Candidates who wish to buy a business in Canada and move to the country to manage it qualifies under this category. They should have:

• Controlling interest in the business, which they can do so by either being the sole proprietor or a majority shareholder.
• Prove that employment opportunities for Canadians and permanent residents will either be created or retained
• Have a solid business plan

To qualify under the TFWP, a foreign employee-investor can do one of the following:

• Create a new business
• Acquire an existing local business
• Invest a considerable amount in an enterprise

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:

• Submit a viable business plan
• LMIA application
• Upon receiving positive LMIA, apply for a work permit

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. The benefit being, you get an additional and significant amount of CRS points to get an Invitation to Apply (ITA).

If you are looking to Work, Study, Invest, Visit, or Migrate to Canada, Contact Edu Global Consultants