The owner/Operator LMIA program requires the following:
- The owner/operator must retain a minimum of 51% ownership in the business
- The business must maintain existing jobs for Canadians, or, create new jobs for Canadians and these jobs must be retained
- The owner/operator must be prepared to commit a minimum of C$250,000 unless business will create more than 5 high salary jobs
- The program has neither a Net Worth requirement nor a Source of Funds requirement
- For an existing business, the ESDC will conduct checks for paid salaries, retained earnings and also dividends.
- For a new business a declaration from a CPA is acceptable
- Under circumstances where the business owner will retain 100% of the shares in the business, it is advisable to fund the business bank account with as much as possible as there is little to no risk in doing so.
- The business must be funded prior to filing the LMIA
- 200 immediate points assigned for the EE Pool, and if the business is large enough PR could generally be granted within 12 months