WHATSAPPExperienced business persons and entrepreneurs who wish to set up a new business or purchase or invest in an existing business in Northwest Territories can apply through the Entrepreneur Business stream of Northwest Territories Nominee Program(NTNP). But along with the application, they need to present a plan for a viable business, which can create job opportunities for Canadian citizens.
Eligibility requirements for candidates
- Demonstrate proficiency in English or French corresponding to Canadian Language Benchmark (CLB) level 4. The approved test to prove language proficiency must be taken within the six months preceding the application.
- No minimum level of education is specified for this stream. However, the candidate must have enough education to successfully implement the proposed business plan.
- No minimum work experience is required for this stream. But the candidate must have enough work experience to implement the proposed business plan.
- The candidate must own at least one third (33.3%) of the Northwest Territories business they are planning to set up or purchase.
- Those who have a personal net worth exceeding $1,000,000 CAD will be accepted even if their ownership share is less than 33.3%
- If the proposed business is in the capital city of Yellowknife, the candidate must have a minimum personal net worth of $500,000 CAD and invest at least $300,000 CAD in the business.
- If the business is outside of Yellowknife, the minimum required personal net worth is $250,000 with a minimum required investment of $150,000 in their business.
- Sign a business performance agreement and make a good faith deposit of $75,000 CAD, which will be fully refunded if they meet all the conditions of the business performance agreement
Choose the best immigration pathway that suits your skills and aspirations with the guidance of expert immigration consultants of CanApprove! Contact us for more information.
