BUY A BUSINESS AND MOVE TO CANADA IMMIGRATION PROGRAM
Under this program foreign investors, can receive a work permit following the sale and transfer to the foreign national of the majority shares ownership of an existing profitable Canadian business. Once granted a work Permit, candidate can apply for permanent residence to Canada at later stages. Therefore, wealthy business immigrants are buying businesses and turning to Canada’s owner-operator policies.
Rather than being a formal immigration program, owner-operator program is a work permit oriented program under the Federal Temporary Foreign Worker Program (TFWP). There is no annual quota on the number of work-permits that can be issued under this program.
This program is gaining considerable local as well as international attention to many foreign business entrepreneur and investors due to latest rules governing new business owner under Temporary Worker Program. Moreover, this program is far more advantageous than trying to meet provincial immigration program requirements in area of Canada that are not desirable.
To qualify as an owner-operator, the foreign investor must have:
- Demonstrable and transferable management experience.
- Adequate assets to purchase the targeted business in Canada.
- Sufficient language abilities in either English or French to actively work as a manager in the business.
- Controlling interest in the business: own more than 50% of the shares.
As ownership of shares does not itself guarantee that a foreign national qualifies as an owner-operator, employment offer must be made to a foreign investor that will be actively engaged in the management of the business. A work permit holder within the first year of working in Canada along with his or her immediate family member can apply for permanent residence if they genuinely qualify for the program. They can either apply under Federal Express Entry or a Provincial Nomination program. Mostly this process can be completed in less than 12 months.
We have an established network of licensed professionals who can guide the foreign investor and business entrepreneurs to identify a suitable business for sale in Canada. We also help investors and entrepreneurs to complete the required formalities for immigration under this program.