Entrepreneur Pathway alternatives to the Owner Operator Program

Entrepreneur Pathway alternatives to the Owner Operator Program

The widely predominant Owner Operator Program that exempted foreign entrepreneurs from Labour Market Impact Assessment (LMIA) requirements has drastically changed. However, there are other alternatives for foreign entrepreneurs to pursue an entrepreneur pathway in Canada. Read on…

Owner Operator Program & the New Changes The LMIA owner operator program offered a golden opportunity for foreign entrepreneurs who were interested in either starting a new business or purchasing an existing one in Canada.

The program exempted these foreign entrepreneurs from the usual LMIA requirements, which asks for advertisements for job vacancies and a valid job offer. In other words, the program allowed the foreign entrepreneurs to apply for work visa and eventual permanent residency for their own businesses in Canada to immigrate.

With these recent changes in owner operator program, a foreign entrepreneur can still receive a positive LMIA to hire foreign workers. For this, the business has to prove a genuine need to hire the owner or unavailability of qualified Canadians/PR. However, prior to this, they have to advertise the position nationally for at least 28 days in order to give qualified Canadian/ PR an opportunity to apply first.

Alternatives to Owner Operator Program Despite these changes, the Intra-Company Transfer (ICT) is one such program that still exempts LMIA requirements for the Entrepreneur Pathway. Canadian ICT visa is often compared to a work permit based on the owner-operator program. It is one of the most

suitable options for businessmen owning a foreign company. For a multinational company with a branch in Canada, ICT visa allows easy transfers of key staff members or owners. After working for one year for the Canadian affiliate, ICT visa can be utilized to gain a work permit under Global Skills Strategy with only 2 weeks of processing time.

In addition to this, there are certain Permanent Residence Programs as well for the entrepreneur pathway, allowing entrepreneurs and their families to settle permanently in Canada. These programs are – · Federal Self-Employed Immigration Program – If you intend to be self-employed in Canada, this can be your ticket to an entrepreneur pathway. All you need for this program is two years of relevant experience. This relevant experience can be in the field of cultural activities or athletics. Additionally, the selection criteria also includes points for education, age, language ability and adaptability. · Federal Start-Up Visa Program – It is an Entrepreneur Pathway for people who have started a business in Canada with a back-up support from a designated organization.

These designated organizations such as Venture Capital Funds, Angel Investors, or Business Incubators are approved to invest in or support new start-ups. Besides this, the budding entrepreneur must meet the language requisites and have enough capital to support the operations and advancement of a business. · Provincial Nominee Program, Entrepreneur Streams – Every province has their own entrepreneur programs such as British Columbia entrepreneur program, Alberta Immigration Nominee Program, Ontario entrepreneur stream, Manitoba entrepreneur pathway and so on. These provincial nominee programs offer a platform for foreign entrepreneurs to avail and access the entrepreneur pathway in Canada.

Interestingly, if you are an artist or have unique skill-set that can be beneficial to make an innovative business grow and scale, Global Talent Stream Category in some provinces is your entrepreneur pathway.

So, if you were assessing your options of applying under the owner operator program, don’t get disheartened. There are better ways that are still available to help you immigrate to Canada and establish a business here. Taking the help of professionals for such Owner Operator Programs can turn your dream of immigrating to Canada into a reality.