WORK PERMIT FIRST WITH THE IRCC (IMMIGRATION/REFUGEES AND CITIZENSHIP CANADA), NO FIRST STEP PROVINCIAL APPROVAL REQUIRED, PERMANENT RESIDENCY APPLICATION UNDER THE EXPRESS ENTRY VISA CAN BE FILED AFTER 12 MONTHS OF BUSINESS OPERATION IN CANADA
It is a type of a work permit issued under the federal Temporary Foreign Worker Program (TFWP) – for which there is no annual quota on the number of said documents than can be issued within a period of time.
- You must have an intermediate level in French or English of 7.
- You must have a University degree.
- Your minimum investment once in Canada must be at least CAN$250 000.
Note that it can be started with any investment. However, the business plan should be authentic, and there should be clear intent and ability to manage that business.
Basically, it’s a work permit that allows you to work in Canada by establishing your own firm.
Generally, most workers – entering the Canadian market from abroad – are required to complete a lengthy LMIA (Labour Market Impact Assessment) procedure. It's a document that is required by a Canadian company before hiring a foreign worker. It must provide proof – by essentially posting the position on job boards and filling out extensive applications – that the position cannot be fulfilled by a Canadian or permanent resident (lacking the skills or expertise to meet the company’s requirements.). It also looks at the benefits and profits a foreign employee will bring to the country’s economy.
However, qualified foreign business owners/operators get to bypass that process altogether (which accounts for less time and money spent), and therefore they are exempt from producing such a proof.
Indeed, the owners/operators are granted an exemption as immigrants who seek to establish their business in Canada.
What happens is that instead of analyzing the significance of a single candidate, they look into their business proposal. If the government feels that your business is valuable enough for their economy, then they’ll allow you to set up shop here.
So, all in all, the owner/operator LMIA exemptions speed up the process; all business immigrants who qualify should pursue this strategic shortcut.
And since the owner/operator creates jobs in Canada with their business investments, the government provides LMIA exemptions to simplify this type of immigration process. There’s no need to determine the impact of owners/operators on the labour market - as long as the business creates jobs for Canadians.
Legal and management fees: CAN$75 000 (excludes the Government legal fees of around CAN$3500 per family).