Unlike Canada Investor Visa, if a foreign business applicant applies for the work permit to operate and become an employee of their own business temporarily, must demonstrate that would generate significant benefit or economic, social, or cultural benefits. Govt. has also ordered the visa officers to encourage applicants to apply for permanent residency if they intend to permanently start or buy a business in Canada.
Factors to demonstrate “significant benefit.”
Factors to demonstrate “Significant economic, social or cultural benefit.”
Applicants applying for Canada Business Visa must provide relevant documents to visa offer that validate or support their claim of Significant economic, social, or cultural benefit to Canada.
Degree of ownership
As per the guidelines, Canada will grant the work permits for business applicants only when they have a minimum of 50% of the shares in Canada’s proposed business. Suppose an individual is a partial owner with less than 50% stakes in the company. In that case, they must apply for a work permit as an employee (rather than an entrepreneur or self-employed individual). Furthermore, it would also require a Labour Market Impact Assessment (LMIA) application.
Applicants who have received work permits for multiple times over several years in the self-employed or entrepreneur category must provide evidence of the following:
Work permit processing for temporary residence applicants
To meet the eligibility, the applicant must: