The business-oriented category of the Northwest Territories Nominee Program (NTNP) is designed for entrepreneurs and individuals with business expertise who intend to move to the Northwest Territories. They can either set up, purchase, or invest in a business in the region, given that they can present a workable business plan capable of generating employment opportunities for Canadians in the northern area.
Program Eligibility
Requirement |
|
| Express Entry Profile | – Need not required to be registered under the Federal Express Entry program |
| Job Offer | – Need not require a job offer to apply under this stream.
– Need not require a job offer to apply under this stream. |
| Language Proficiency | – Have in either English or French at a level equivalent to Canadian Language Benchmark (CLB) 4. |
| Level of Education | – No minimum educational criterion for this pathway
– Possess the necessary education to effectively and successfully implement their business plan. |
| Connection to Province | – Need not require any specific connection to BC |
| Work Experience | – No minimum experience to apply under this stream.
– Have necessary work experience to effectively and successfully implement their proposed business plan |
| Investment Requirement | – Invest into starting or buying at business within:
o Inside the Yellowknife Northwest Territories: Minimum $2,00,000 CAD o Outside the Yellowknife Northwest Territories: Minimum $1,00,000 CAD – Have at least 33.33% ownership of the business (However, if personal equity investment is at least $ 1 Million CAD than ownership percent can be lesser). |
| Personal Net Worth | – Inside the Yellowknife Northwest Territories: Minimum personal net worth of $500,000 CAD and a required investment of at least $300,000 CAD for businesses in the capital city.
– Outside the Yellowknife Northwest Territories: Minimum personal net worth of at least $250,000 CAD with a minimum investment of $150,000 CAD for businesses located elsewhere. |
| Business Performance Agreement | – Candidates must sign a business performance agreement.
– The deposit is fully refundable if the candidate meets the conditions of the performance agreement. |
| Conditions of Business Performance Agreement | – Residing within 100 kilometers of the business operated.
– Spending at least 75% of time in the Northwest Territories while holding a temporary work permit. |
Application Process
- The Northwest Territories Entrepreneur stream accepts applications year-round.
- Prospective applicants are required to create a comprehensive business plan.
- Candidates must undertake at least one business trip to the Northwest Territories to familiarize themselves with the local business environment.
- Following the business trip, applicants undergo an interview with Northwest Territories Business Stream staff.
- Successful applicants demonstrate a sound understanding of the Northwest Territories business landscape and present a compelling business plan.
- If the interview goes well, applicants are invited to submit supporting documents for their business concept within 60 business days.
- Upon satisfaction with the supporting documents, applicants are invited to formally apply to the program.
- Once invited, applicants have six (6) months to submit a complete application.
- Business Stream staff collaborate with applicants to develop a business performance agreement.
- Upon agreement, the applicant must submit a $75,000 CAD good faith deposit.
- Successful applicants receive a letter of support for a two (2) year temporary work permit.
- Certain business categories are eligible for LMIA-exempt work permits, which do not require a Labour Market Impact Assessment.
- To apply for the work permit, applicants must include a work permit support letter issued by the province and submit their applications to Immigration, Refugees and Citizenship Canada (IRCC).
- Upon receiving the work permit, applicants have 60 days to submit a Business Stream arrival report form and accompanying documents.
- Applicants then have six (6) months to develop the business and fulfill the investment requirements outlined in the business performance agreement.
- Interim reports must be submitted every six months until the performance agreement conditions are met.
- If all conditions of the business performance agreement are met, candidates may be eligible for a provincial nomination from the Northwest Territories.
- Typically, a nomination can only be issued 19 months after business development begins and 12 months after the business is operational.
- After receiving the nomination, applicants have one year to submit a federal application for Canadian permanent residence.
- This application is paper-based and should be mailed to the appropriate application center.
- Paper-based PNP applications for permanent residence are generally processed within 18 months.
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