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Step 1: Business Incorporation
The applicant must finalize the proposed business activity, and incorporate the company. The applicant can also visit Canada for finalizing the business, but this is not mandatory.
Step 2: Business Plan
The applicant must prepare a complete business plan, and a Labor Market Impact Assessment application.
Step 3: Application
Once the LMIA is approved, the candidate can apply for a Canada work permit as a temporary foreign worker, and travel to Canada to commence their business activities. The work permit is valid for 12 or 24 months. During this period, they can apply for permanent residence.
For business immigration to Canada under this pathway, candidates must meet the following conditions:
Note: In order to avail LMIA exemption, those establishing a new business in Canada must be actively engaged in that business before applying for a work permit
The Canada work permit fee is $CAN 155 per person. This includes the fees for permit extension.
Processing Time
The LMIA approval procedure requires two to three months, while the Canada work permit processing time is less than three months. Subsequently, the permanent residence process may take up to 12 months.