Make the first step towards Canada PR with Owner Operator Program
Canada PR with Owner Operator Program
Canada PR Among the popular programs like Express Entry and Start-up visas, Canada offers some other attractive pathways to interested and eligible applicants. One of them is the Owner Operator Program Canada, which is not the proper immigration program but a work permit issued under the Temporary Foreign Worker Program, a federal government-operated program. The work permit holders can later apply for the permanent residency of Canada, provided they fulfill all the requirements.
The most attractive part of the Owner-Operator Program is that there is no upper limit for the applicants. In other investment-based permanent immigration programs, there is a cap to the number of applications, and hence a large of aspirants compete for a limited number of opportunities. Under this program, the applicant has the complete chance of being granted the work permit if he proves his eligibility to the immigration authorities.
To apply for Owner Operator Program Canada, an applicant –
- Must be interested in investing in a Canadian Business
- Must have the assets to buy the targeted business in Canada, and the funds must be obtained or collected through a legitimate source
- Must possess verifiable and transferable management experience
- Must have to control interest in the business by owning more than 50% of the shares, and the control must not be dismissed
- Must have the offer of employment from the company stating the active engagement of the investor in the business
The process of this program is simple yet tricky in terms of obtaining the required documents. Firstly, the applicant or the investor has to identify a profitable Canadian business to invest the money in. Once finalized, a Labor Market Impact Assessment (LMIA) is submitted along with the business plan. This plan should be viable and suited to the Canadian economy. If a positive LMIA is issued, then the investor can apply for a renewable work permit to become a permanent resident of Canada in the upcoming years.
After identifying the business, it takes around six months to get the work permit. The first two to three months will be utilized for the application process of the LMIA, and if approved, it takes another three months to grant the work permit to the applicant. Interestingly, there is no time limit to apply for permanent residency. As soon as the applicant and the family qualify for a permanent immigration program like Express Entry or Provincial Nomination, the permanent residence can be applied. Usually, the migrants under Owner Operator Program Canada apply for Canada PR within a year of their arrival in the country