Owner-Operator policy

[canadavisaQs]

https://www.canada.ca/en/financial-consumer-agency/services/banking/opening-bank-account.html#toc1
The site says "You MAY need to go to the financial institution in person to open a bank account." .. so there is a possibility that you can open the account without being present and this is exactly what our consultant said as well. Issue is finding such a bank!.

We are also stuck at this stage of trying to gather documents to prove that the "business is up and running and actively engaged".

i opened an account with RBC and i live in india and i don't have any visa to visit canada.

 

[broko85]

i opened an account with RBC and i live in india and i don't have any visa to visit canada.

hi are you 100% shareholder can you share what you did to open the account as it would seem you did this online or did someone do this on your behalf in Canada?

 

[canadavisaQs]

hi are you 100% shareholder can you share what you did to open the account as it would seem you did this online or did someone do this on your behalf in Canada?

i am 100% shareholder of the company.

There is no one in canada who did anything on my behalf.

you just contact the bank, they send you some forms, you sign them, get them notarized in your country, mail them with your ID notarized to the bank and they give u an account.

 

[MrinalManchanda]

I am doing this and the process is fairly simple, apply for LMIA for business owner, once positive apply for work permit, once received, use that for 200 points in Express entry application to apply for PR

Hi,

I am a business owner in my home country and want to apply for Owner/Operator work permit. Right now I am in my home country. How to apply for an LMIA for a business owner. Where is this application to be made and if you could please guide me some steps to begin with.


Thanks a lot.

 

[canadavisaQs]

Hi,

I am a business owner in my home country and want to apply for Owner/Operator work permit. Right now I am in my home country. How to apply for an LMIA for a business owner. Where is this application to be made and if you could please guide me some steps to begin with.


Thanks a lot.

first step is to create a company and a business plan for proposed business in canada. Make sure its a business you genuinely wants to run and its ready to go, also ensure that your business needs you in canada to be able to operate.

 

[Matthew Iwama]

Essentially the process goes as follows:

1. Identification and Development of Business Concept (if purchasing, identification of business to be acquired)

2. Corporate Prep-Work

• Formation of Corporate Structure
• Registration with CRA, obtaining Business Number
• Engagement of Accountant
• Organizing Banking Matters
• If necessary, entering into MOUs, Purchase Agreements, Leases, etc.
• If necessary, and applicable, setting up of virtual corporate office

3. Business Plan with pro-forma financials

4. Preparation of LMIA Application - Use the regular High-Wage Form, Proof of Recruitment is exempted

• This includes all corporate documentation, business plan, CRA docs, attestation letters from CPA, etc.

5. Submit application to ESDC

6. Employer Interview with ESDC

7. Decision from ESDC

 

[broko85]

i am 100% shareholder of the company.

There is no one in canada who did anything on my behalf.

you just contact the bank, they send you some forms, you sign them, get them notarized in your country, mail them with your ID notarized to the bank and they give u an account.

Hello again and thanks for this, i hope you and your family are safe, with respect to the above can you help me with the following so i may follow in your footsteps,
1) did you deal with a contact (email and phone) if you can provide me i can let them know i was referred by you.
2) if you did not have any contact can you send me the number you called and department etc and i can try and call today and take it from there.
3) Once you sent all the forms, how long did it take to get the actual account open and you able to log on?

Hope to hear from you soon,

 

[syed rehan arshad]

I want to know if I does not have prior business experience ,
I am Associate in banking experience with MBA.
Will ESDA approve me if I will visit Canada and buy any running business. (I already have a visit visa)

 

[Matthew Iwama]

I want to know if I does not have prior business experience ,
I am Associate in banking experience with MBA.
Will ESDA approve me if I will visit Canada and buy any running business. (I already have a visit visa)

Hey Syed,

I don't think it's impossible, especially if a proposed business concept is related to your paid employment experience. Perhaps you are venturing out for the first time in a field in which you have experience. Certainly in the realm of possibilty.

What is more important, however, is the development of your business concept. You will be the one here, in Canada, with feet on the ground. How do you want to be spending your time? Where would the capital expenditures take place, and in what form?

 

[Matthew Iwama]

Hello again and thanks for this, i hope you and your family are safe, with respect to the above can you help me with the following so i may follow in your footsteps,
1) did you deal with a contact (email and phone) if you can provide me i can let them know i was referred by you.
2) if you did not have any contact can you send me the number you called and department etc and i can try and call today and take it from there.
3) Once you sent all the forms, how long did it take to get the actual account open and you able to log on?

Hope to hear from you soon,

Hey Broko,

While I can't effectively provide you with specific names of people, here are two suggestions if you wanted to start looking in that direction:

1. HSBC Bank of Canada - If you have an existing HSBC Account in your home country. It will be fairly easy to open up a Business Account in Canada. You will be able to have your signatures attested to at the HSBC in your home country.

2. BMO - eBusiness Account.

 

[broko85]

i am 100% shareholder of the company.

There is no one in canada who did anything on my behalf.

you just contact the bank, they send you some forms, you sign them, get them notarized in your country, mail them with your ID notarized to the bank and they give u an account.

Hi again, i spoke to RBC and they mentioned as far as they know it cannot be done, however if we have a contact that was able to do thus for us to speak to them to get the person they spoke to an contact them to ope the account. @canadavisaQs can you either PM me or let me know here the details if you do not mind so i can contact the bank as well?

 

[canadavisaQs]

Hi again, i spoke to RBC and they mentioned as far as they know it cannot be done, however if we have a contact that was able to do thus for us to speak to them to get the person they spoke to an contact them to ope the account. @canadavisaQs can you either PM me or let me know here the details if you do not mind so i can contact the bank as well?

Sent you Pm with Contact details of the person who helped me open an account with RBC without ever visiting canada.

 

[Nadeemcadxb]

Sent you Pm with Contact details of the person who helped me open an account with RBC without ever visiting canada.

Hello, this is Nadeem. Currently I live and work in Dubai. I am planning to move to Canada through Owner Operator program. I have over 15 years of hotel/food industry experience. Do you think I can get this LMIA/work permit if I buy a restaurant (51% shares). Has anyone done Owner Operator option while buying a Restaurant. Please advise if Restaurant is a difficult option to convince ESDC then any suggest what type of business work for this option.

On the other note, I do have Canadian visit visa and I have visited Canada last year in September. If i want to open a bank account without a business then can I also do that. If yes then please do share the RBC contact person to me as well so I can open a bank account for future.

Thank you for helping on above questions.

 

[Nadeemcadxb]

Hey Syed,

I don't think it's impossible, especially if a proposed business concept is related to your paid employment experience. Perhaps you are venturing out for the first time in a field in which you have experience. Certainly in the realm of possibilty.

What is more important, however, is the development of your business concept. You will be the one here, in Canada, with feet on the ground. How do you want to be spending your time? Where would the capital expenditures take place, and in what form?

Please advise if any particular business have faced lots of rejections so I dont look for that area of business. I am interested into restaurant, hotel management companies. Thank you in advance for your advise.

 

[Maikail]

I have LMIA I NEED TO KNOW IF IT IS FALSE OR TRUE