LMIA

Once a suitable business is found, it will take 2-3 months to complete the LMIA application process. Following the approval of the LMIA, it will take less than 3 months in most jurisdictions to receive a 1-24 months, renewable temporary work permit at the management level.

The foreign investor identifies a Canadian business to purchase with an investment between $50,000 and $1 million.   A Labour Market Impact Assessment (LMIA) is submitted along with a suitable business plan. Once a positive LMIA opinion is issued, the foreign investor applies for a 12-24 months, renewable temporary work permit at the management level.

• Sufficient capital between $50,000 and $1 million.
• Owner-operator must have controlling interest, owning more than 50% of the shares, in the business he wishes to purchase
• Owner-operator must be actively involved in the management of the business
• Transferable Management skills
• Language proficiency in English or French
• Comprehensive business plan