Program Business Stream
The Northwest Territories (NWT) Nominee Program Business Stream offers a path to Canadian Permanent Residency for those interested in establishing, purchasing, or investing in a business in the NWT.
There are a number of benefits to starting a business in the NWT and choosing the NWT Nominee Program. Applicants can expect:
- No wait-list for applications;
- Faster processing times;
- Personalized attention for your application; and
- Program staff that is there to support you throughout the entire application process.
Minimum Eligibility Criteria for the Business Stream:
There is a set of minimum eligibility criteria in order to qualify for the NWT Nominee Program Business Stream. A prospective applicant must be able to commit to one of the following investments:
- a minimum of $300,000 CDN equity to start or buy a business within the corporate boundaries of Yellowknife, NWT;
- a minimum of $150,000 CDN equity to start or buy a business outside of the corporate boundaries of Yellowknife, NWT.
The prospective applicant must provide proof of a personal net worth of:
- At least $500,000 CDN to start or buy a business within the corporate boundaries of Yellowknife, NWT;
- At least $250,000 CDN to start or buy a business outside the corporate boundaries of Yellowknife, NWT;
- Provide to the Department of Industry, Tourism, and Investment a good faith deposit of $75,000 CDN once formally accepted into the Program.
The prospective applicant must also:
- Demonstrate that they own at least one-third (33.3%) of the business;
- Where your personal equity investment is at least $1,000,000 you may own less than one-third (33.3%) of the business pursuant to the Immigration and Refugee Protection Regulations section 87(6)(b)(ii); and
- Demonstrate that they have achieved proficiency of level 4 against the Canadian Language Benchmark (CLB 4) in English or the equivalent language level against the Niveaux de competence Linguistique Canadiens (NCLC) in French.
In addition to financial means, an applicant also needs to demonstrate the following knowledge and abilities:
- knowledge and understanding of the NWT (Northwest Territories) and its economy and which businesses will bring significant economic benefit to the Territory.
- The ability to make at least one in-person business trip to the NWT (Northwest Territories) to gain knowledge about the territory’s business environment.
- The necessary experience and education to successfully implement the proposed business plan and willingness to settle full-time in the NWT.