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A Labor Marketing Impact Assessment (LMIA) is sometimes required for an existing Canadian employer to be able to hire a foreign worker. Though a business plan is often an effective way to present the information required in any business-related immigration application, it is not required for a standard LMIA application. However, if an applicant wishes to enter under an Owner Operator LMIA option, a business plan is required. When someone refers to an LMIA Business Plan, they are usually referring to an Owner Operator LMIA business plan.
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Do I Need an LMIA Business Plan? Understanding the Owner Operator LMIA Business Plan Requirement A Labor Marketing Impact Assessment (LMIA) is sometimes required for an existing Canadian employer to be able to hire a foreign worker. Though a business plan is often an effective way to present the information required in any business-related immigration application, it is not required for a standard LMIA application. However, if an applicant wishes to enter under an Owner Operator LMIA option, a business plan is required. When someone refers to an LMIA Business Plan, they are usually referring to an Owner Operator LMIA business plan. What is the Owner Operator LMIA Option?
A positive LMIA demonstrates that a company has a need to hire for a certain position and, despite reasonable efforts, they were unable to find a suitable Canadian applicant. This then allows them to hire a foreign worker for the position. The Owner Operator LMIA option allows a foreign worker to enter Canada on a temporary basis – with an option to apply for permanent residency - if they desire to purchase a controlling interest in an existing Canadian business and, are entering Canada with the intention of running said business. In the case of the Owner Operator LMIA option, the LMIA requirement is waived in lieu of a business plan. Why Does it Require a Business Plan? The Owner Operator LMIA Business Plan is required for many reasons. First and foremost, the purpose of most Canadian immigration schemes is to bring significant benefit to the Canadian economy. The main way to demonstrate this is through a business plan. Second, there are many requirements and expectations of the business (employer) as well as the owner- operator. An Owner Operator LMIA Business Plan is often the most compelling, thorough, and organized way to make both a business and immigration case. What Needs to Be Included in the Owner Operator LMIA Business Plan? As you would expect, an LMIA business plan needs to have all the same main components of a regular business plan. This includes sections like the executive summary, business and product/ service
description, industry analysis, market analysis, marketing plan, management and personnel plan, and financial projections. In addition to the usual expectations of a business plan, an LMIA business needs to demonstrate: Expertise of the owner-operator – It needs to be evident that the owner-operator can run a successful business and that their presence is required to effectively run it. The owner-operator has a controlling interest – In addition to controlling interest, it needs to be clear they have primary decision-making responsibility and cannot be overruled (or removed) by any other member of the business. The business will create and maintain employment opportunities for Canadian citizens – This requirement is self-explanatory and ties into immigration providing a significant benefit to Canadian citizens and the economy at-large. Although a standard LMIA application will not need a business plan, an owner operator LMIA requires it. Not only does it make reviewing the case easier for Canadian officials, an LMIA Business Plan provides a powerful way to tie in and prove the benefit the owner-operator can bring to the business, and the benefit the business can bring to Canada. Few formats could serve this purpose better.
