Work permits are the first step for foreign entrepreneurs to run a business in Canada.
Canada has made some policy changes affecting immigration pathways for entrepreneurs.
In recent weeks, Canada announced that the Owner/Operator category under the Temporary Foreign Worker Program (TFWP) will be removed on April 1, 2021. This category allowed applicants to apply for a work permit without having to do the advertising requirement of the Labour Market Impact Assessment (LMIA).
Here are some of the other options for entrepreneurs who want to start a business in Canada.
Intra-Company Transfer
The Intra-Company Transfer work permit is for entrepreneurs who want to expand an existing foreign business into Canada. This program is usually used by multinational corporations to move management and key staff between international branches, but it can also be an option for entrepreneurs who want to open up shop in Canada.
Entrepreneurs/self-employed
The Entrepreneurs/self-employed work permit is intended for entrepreneurs who own at least 50 per cent of a seasonal Canadian business. It can also apply in cases where the owner of the Canadian business intends to live outside Canada. In such cases the work permit could be exempt from the need for an LMIA.
These individuals may seek temporary residence, or eventual permanent residence. Applicants must demonstrate that their business will be a significant economic, social, or cultural benefit to Canadians.
