What’s the Difference Between an LMIA Business Plan and LMIA Owner Operator Business Plan?

What’s the Difference Between an LMIA Business Plan and LMIA Owner Operator Business Plan?

Those that are unfamiliar with various Canadian business and entrepreneurial immigration may have heard the term LMIA business plan and wondered why a business plan would be required for a Labour Market Impact Assessment. The answer: It Isn’t. When people say LMIA business plan they are usually referring to an LMIA Owner Operator Business Plan.

What is the LMIA? The Labour Market Impact Assessment (LMIA) is something that an employer in Canada may be required to obtain before hiring a foreign worker. The LMIA’s purpose is to confirm that there is a real need by a company to hire a foreign worker and that the company has made an attempt to hire a Canadian citizen or legal resident but, there were no suitable candidates.

That is why there is no LMIA Business Plan required. Presenting an LMIA business plan for a genuine LMIA may be helpful in making the case that the role for which you seek to hire a foreign employee is truly required. It is not, however, required and is therefor not a common occurrence. As such, the

LMIA owner operator business plan is of shortened and simply referred to often as the LMIA business plan.

What is the LMIA Owner Operator?

The LMIA Owner-Operator is actually an exception to requiring an LMIA. This is one of the additional reasons the term LMIA Business Plan and even LMIA owner operator may be confusing to some.

As an alternative to an LMIA, a foreign person may apply to enter the country as a temporary worker if they wish to purchase a controlling interest in a Canadian company – or establish one - and participate in the day-to-day operations. Under these circumstances, the LMIA is waived in exchange for the owner-operator agreement. Thus, the LMIA owner operator business plan.

LMIA Owner Operator Requirements There are further requirements to the LMIA owner operator business plan besides a controlling interest and participating in daily operation. You must also: ·

Demonstrate the business will create and/or retain jobs for Canadian permanent residents or citizens.

·

Occupy the highest position of power to demonstrate you cannot be fired/removed.

·

Demonstrate you are equipped with the experience, education, and skills necessary to run the business.

The LMIA owner operator business plan is the most seamless way to demonstrate you meet all the requirements. There are additional steps in the process and other paperwork to fill out. However, if you choose a good company, have the funds to invest, and have a solid LMIA Owner Operator Business Plan, you will be well on your way. You may also seek to consult or hire an immigration

lawyer and/or a professional business plan writer to really give you the best case.

When you successfully secure an LMIA-base owner operator work permit, and then successfully run a company that contributes to the overall economy, you will be on a path that can lead to full immigration if that is your end goal.