July 31, 2018 – Wealthy business immigrants are buying businesses and turning to Ottawa's temporary work visa, 'owner-operator' policies to gain entry to Canada.
Foreign investor entrepreneurs who want to relocate to Canada with their immediate families, can buy an established business or launch a new business in Canada. Then, qualified investors can apply for a work visa as a management level employee under the federal Temporary Foreign Worker (TFW) program. Revised rules governing new business owners under the TFW program is gaining considerable local and international attention.
After a period of less than 1-year, successful temporary work visa holders and their families can change to permanent residence under a provincial immigration program or as a federal skilled worker under Express Entry.
The purchase of the business by the foreign national must be supported by a suitable business plan that will, along with other conditions, result in the creation or retention of Canadian jobs.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer