are there any specific business plan templates, can you share the list of documents required? also how did you register a company in Canada, I know there are some sites, but they are charging hefty fee.
Owner operated LMIA group
- Thread starter VIJAYMAGHNANI
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take a read of this: https://quickbooks.intuit.com/cas/dam/DOCUMENT/A0q0RIjz0/How-to-write-a-business-plan-template.pdf for a business plan template type thing.
Forms required are the LMIA application form. it has two types: high wage and low wage. high wage is the one you'll need as you're going to be the manager of your venture. LMIA costs $1000 as far as I know.
As for starting a business, that all depends on the structure of business you choose. https://www.thebalancesmb.com/as-a-non-canadian-how-can-i-open-a-business-in-canada-2948586
Forms required are the LMIA application form. it has two types: high wage and low wage. high wage is the one you'll need as you're going to be the manager of your venture. LMIA costs $1000 as far as I know.
As for starting a business, that all depends on the structure of business you choose. https://www.thebalancesmb.com/as-a-non-canadian-how-can-i-open-a-business-in-canada-2948586
@anawhite1120
From whatever little I know, you will be confronted by the offer on the basis of why do you require to be in Canada since your work can most surely be done online. You could hire someone for marketing and for your nature of work you do not need to be in-land. Owning a business does not require work=permit nor residency. So Please work on this to show why is it necessary for you to be in-land and how your remote presence / current arrangements are a huge disadvantage.
Also, if you do not create jobs during the first year it may be a big disadvantage to the extent that you may not get an approval.
From whatever little I know, you will be confronted by the offer on the basis of why do you require to be in Canada since your work can most surely be done online. You could hire someone for marketing and for your nature of work you do not need to be in-land. Owning a business does not require work=permit nor residency. So Please work on this to show why is it necessary for you to be in-land and how your remote presence / current arrangements are a huge disadvantage.
Also, if you do not create jobs during the first year it may be a big disadvantage to the extent that you may not get an approval.
Folks, I would like to provide 2cent on this subject. Business plan is the most important part of this application. If you have not bought the business and will be doing a start up then you have to satisfy the ESDC officers that you will create a job for a Canadian in the first year, you have enough funds for the startup and to afford the salary of the owner operator. Also, one of the key requirement for this application is the "OPERATIONAL NEED" which means that your business need you to be present in Canada for operations. If your business plan is not emphasizing on the operational need then you might have less chances of getting positive LMIA. There are few other guidelines which ESDC officer follows when making a decision on this application.
Ad the program says there no minimum investment required. Mine is software company where we hardly need any huge investment.
200 points are for NOC 00 RIGHT?
A lot of misinformation about this program.
First, you cannot do CEC under the Owner operator LMIA program.
Second, though no amount is mentioned there is threshold of CAD 250k that is generally required for the application to get approved.
You can however use the 200 points towards your express entry profile
First, you cannot do CEC under the Owner operator LMIA program.
Second, though no amount is mentioned there is threshold of CAD 250k that is generally required for the application to get approved.
You can however use the 200 points towards your express entry profile
Yes!! 200 points are for NOC 00 but to obtain 200 points, you need to have an approved LMIA under NOC Code 00 or you need to work for that employer for at least one year for valid job offer under NOC Code 00. No minimum investment is required but to be on the safer side, start your payroll and grab a lease for your office setup to make your case looks genuine. It's only a recommendation. Nothing official.
Great thread. Will you be willing to talk over whatsapp or email? I am having hard time finding right consultant for the process and confused on where to start. It'd be a great help.
Thanks in advance.
you can contact me on +1 6473025378 or pateljeet073@gmail.com
Hello, Above statement is true but I would like to add some points. Remember this is a LMIA application initially which is not an immigration application, there are 6 to 7 factors that ESDC officers keeps in mind when deciding the LMIA outcome. Even-though all the factors are important but mainly ESDC officer will focus on, if LMIA (Business) will have any positive or neutral impact on Canadian Labour Market.
Starting a payroll or grabbing a lease would help but these are not the only things to keep in mind. I always advice my clients to focus on their Business plan and make sure everything is in line with the Business Plan.
When it comes to the investment or net-worth, there is no minimum investment required or minimum net-worth required so if something works for someone doesn't meant it will work for everyone. which means if someone LMIA got approved with only 50K investment it doesn't mean that everyone else's will get approved at 50K.
Your net worth and investment should make sense in regards to your business plan.
I have submitted few OOLMIA applications so I have experience in this field. Post your questions here and I will try to answer it as soon as I can.
Cheers,
H
I was advised by one of the consultant that only business plan is required and no need to buy any business to secure 200 points after LMIA approval. I am also not sure, but is it true??
Congratulations.
I was advised by one of the consultant that only business plan is required and no need to buy any business to secure 200 points after LMIA approval. I am also not sure, but is it true??
Hi, i am a project engineer (done bachelors in chemical engineering) having 19 years experience in oil & gas, petrochemicals related field. If i only prepare business plan and validate my network and commit to invest 200,000 CAD, am i eligible to get 200 points? Also, does this investment needs to be done actually or just on paper? Is it mandatory to invest to get 200 points and later do the business actually? Really appreciate your help to understand. Thanks
To get LMIA approval, you need to convince the officer that how can you be beneficial to Canadian Economy. How much jobs you will be creating and why you need to be here in Canada ? I suggest you not to buy a business if you want to save money. Just incorporate a new company, make some initial investment like office lease, office equipment, start payroll and apply for LMIA. I still advise you to start your business from scratch if possible and follow your business plan. If not, then there is always an option to buy an active business and apply for LMIA instantly.
Hope it helps!!
Regards
Sahil
Hi Everyone,
Thanks for everyone's effort sharing a lot of useful information about the Owner Operator LMIA.
Our current scenario is I operate a Sole person UX Design Agency and have a virtual or shared office which I use it for client meetings and other marketing/business purposes (I could use this address on mail/business contact).
If I want to establish a design agency, do I need a physical office space or shared office space that will work? Most of my work will be performed remotely or onsite to the client locations (if agreed).
Have anyone had experience in starting a business through this category from scratch?
Thanks,
Nat
Thanks for everyone's effort sharing a lot of useful information about the Owner Operator LMIA.
Our current scenario is I operate a Sole person UX Design Agency and have a virtual or shared office which I use it for client meetings and other marketing/business purposes (I could use this address on mail/business contact).
If I want to establish a design agency, do I need a physical office space or shared office space that will work? Most of my work will be performed remotely or onsite to the client locations (if agreed).
Have anyone had experience in starting a business through this category from scratch?
Thanks,
Nat