Whether you’re considering taking your business to Canada or investing in commercial opportunities there, you will need a permit from the Canadian Government. Like all international governments, the Canadian Government also has rules and regulations in place to protect its business community when it comes to foreign investments. To verify if you are a genuine investor and capable of doing business in Canada, you must meet a series of requirements.
If you have the potential to match these requirements, you can prepare an application for an owner-operator work permit to legally make investments in businesses or gain ownership of a company in Canada.
To give you a clearer understanding of the owner-operator work permit, the immigration experts at Apex Migration Legal Services Inc. have explained how the permit works and the benefits it provides foreign investors. Keep reading for more information.
What is an owner-operator work permit?
This is not an immigration program, but a category that allows foreign investors to purchase a small business in Canada within their financial ability and operate their own business. The operator work permit is meant to allow foreigners to run a business legally in Canada. It also allows their children to enroll in schools in Canada for free from grades one to twelve.
Similarly, with this permit, foreigners are allowed to legally operate their own businesses in Canada as well. Their dependent children will also be permitted to attend school at no cost. Once the foreign investor gets into business, with the owner-operator work permit, which is a Labour Market Impact Assessment (LMIA) based work permit, they can apply for permanent resident status for their whole family. However, this is provided that their International English Language Testing System (IELTS) score is 6.0 or higher.
Requirements to obtain an owner-operator work permit
To obtain an owner-operator work permit in Canada, a foreign investor must have:
1. Excellent and verifiable management skills.
2. Sufficient assets to purchase a Canadian business.
3. Sufficient language abilities in English or French to manage the business
4. Over 50% of the shares in a business.
To learn more about the requirements and investment benefits that come along with an owner-operator work permit, reach out to Apex Migration Legal Services Inc. We are a licensed immigration law company in Mississauga, ON, and we are here to help you sort out all of your immigration needs. If you are not qualified for the owner-operator work permit category, we can guide you to different options to achieve the same purpose.
We provide many immigration and immigration-related services to help unite people via family sponsorships, appeals, study visas and work permits (for those pursuing career development and career growth), provincial nominee programs, entrepreneurs’ programs, and other related immigration matters.
For more details on our services, please click here. If you have questions about the owner-operator work permit or any other subjects related to immigration to Canada, please contact us by emailing us at aline.nguyen@apexmigration.ca or by giving us a call at (416) 679-8898 for Canada or (028) 3820-4089 for Vietnam. You can also get in touch with us by clicking here.