In an interesting development that shows the ingenuity of the wealthy investors/business migrants keen to invest in Canada, in return for PR status are, reportedly, acquiring firms/ventures and using the nation’s Temporary Work Visa, ‘owner-operator’ laws to enter the nation.
What’s fueling this trend? At present, the nation does not boast of many opportunities for investment-based Canada immigration, even while the present federal permanent immigration and provincial entrepreneur programs, despite running on paper, are not very inspiring.
While the Immigrant Investor Venture Capital (IIVC) Pilot Programme offered by the federal administration providing PR to very high net worth aspirants is nearly absent; the Start-Up Visa Scheme, also providing PR has specific requirements.
The result: a huge number of senior managers, self-employed, businessmen, global investors and keen to get PR in the country have to fight for a comparatively smaller figure of the quota based jobs under the nation’s different provincial business immigration schemes. With its Quebec Immigrant Investor Programme (QIIP), Quebec rules the sphere but then it is highly restrictive on account of eligibility, investment, and application process duration and documentation requirements.
Temporary Foreign Worker Programme –Owner-Operator Laws
Investor entrepreneurs from abroad, eager to move to the Maple Leaf Country, would do well to either buy a well-established business, or start a new one in the nation, and submit an application for a Work Visa as a management employee.
The amended federal rules, governing new business owners under the TFW Programme, are inspiring many. Post less than 1 year, successful Temporary Work Visa holders have the option of graduating to PR, under either a provincial programme or as a Federal Skilled Worker, via Express Entry.
Though the laws are difficult to figure, these are easy to follow. An overseas employee-investor can start a new business, get hold of an existing Canadian business, or make investments in an enterprise and make the grade for a Work Permit as a TFW.
What Describes an Owner-Operator?
As per the rules, it’s mandatory that an employer is an entity that engages a person from abroad, to perform work for payment, and for a certain period, in the Maple Leaf Country. The employer is usually the body that appoints, exercises control over working situations, and pays the overseas person. It’s required that it’s an identifiable body that will equip the government officials with the needed capacity to follow its regulatory duties, for the running & implementation of the TFW Programme.
What Makes up An Employer?
The present rule says that an employer/employee relationship must be recognized unambiguously, to permit regulatory duties in the administration of the TFW Programme.
In situations where a self-employed individual is keen to land in the hotspot, to either set-up or buy a firm/organization, and play a role in its daily operations, it’s mandatory that the business plan & contract to purchase shares in the venture/firm establish an employer/employee association with an offer of job.
Hence, without an employment offer, the case officer either examines the overseas worker’s business plan or share purchase agreement to review the case’s strength.
Labor Market Impact Assessment (LMIA)
It’s a regulatory tool used by officials to decide if a local Canadian is obtainable to do a particular work. A positive LMIA enables a recruiter to usher-in an overseas employee. Where the Owner-Operator provisions are applicable, the condition to publicize the position to the Canadian labor market is purposely not mandatory to fulfill.
While reviewing labor market factors, for owner operator LMIAs, attention is given to the realness of the job offer and on job formation or maintenance and/or skills transfer. It’s necessary that the employer illustrates a level of controlling interest in the firm/venture.
Besides, the employer should also show that such temporary entry will result in either the making or maintenance of job opportunities for those with citizenship or Permanent Residency and/or skills transfer to these people.