NWT : Northwest Territories Entrepreneur Immigration Program
What is NWT Nominee Program Business Stream?
The NWT Nominee Program (NWTP) Business Stream is a pathway for individuals who wish to establish, acquire, or invest in a business in the Northwest Territories (NWT) of Canada. This stream is designed to attract experienced entrepreneurs and investors who can contribute to the economic development of the NWT.
- The NWTP Business Stream has two categories:
1. Entrepreneur Category
- This category is for individuals who want to start, acquire, or partner in an existing business in the NWT.
- Applicants must have a minimum net worth of $500,000 CAD, of which at least $250,000 CAD must be readily transferable and unencumbered.
- They are required to make a minimum investment of $300,000 CAD in establishing or purchasing an NWT business.
- Applicants must actively participate in the day-to-day management of the business.
- They should have a business plan that outlines their proposed venture and demonstrates the potential for economic benefits to the NWT.
- Language proficiency in either English or French at a minimum Canadian Language Benchmark (CLB) 5 is required.
- Upon meeting the program requirements and obtaining a nomination from the NWTP, applicants can apply for a work permit and subsequently seek permanent residency in Canada.
2. Self-Employed Category
- This category is for individuals who have the intention and ability to establish a business that will create significant economic, cultural, or artistic contributions to the NWT.
- Applicants must have relevant experience and the necessary skills to successfully operate the proposed business.
- They should have a minimum net worth of $300,000 CAD, of which at least $150,000 CAD must be readily transferable and unencumbered.
- Language proficiency in either English or French at a minimum Canadian Language Benchmark (CLB) 5 is required.
- Applicants must submit a detailed business plan that demonstrates the viability and benefits of the proposed self-employed venture.
- Successful applicants will receive a nomination from the NWTP, which can be used to apply for a work permit and eventually pursue permanent residency in Canada.
Eligibility requirements for the NWT Nominee Program (NWTP) Business Stream
- Minimum net worth of $500,000 CAD, with at least $250,000 CAD that is readily transferable and unencumbered.
- Minimum investment of $300,000 CAD in establishing or purchasing an NWT business.
- Business management experience, either as an owner or in a senior management position.
- Active participation in the day-to-day management of the business.
- Submit a comprehensive business plan that demonstrates the potential for economic benefits to the NWT.
- Language proficiency in either English or French at a minimum Canadian Language Benchmark (CLB) 5.
- Plan to live in the NWT.
- Relevant experience and the necessary skills to establish a business that will create significant economic, cultural, or artistic contributions to the NWT.
- Minimum net worth of $300,000 CAD, with at least $150,000 CAD that is readily transferable and unencumbered.
- Language proficiency in either English or French at a minimum Canadian Language Benchmark (CLB) 5.
- Submit a detailed business plan that demonstrates the viability and benefits of the proposed self-employed venture.
- Plan to live in the NWT.
Meeting these eligibility requirements is necessary to be considered for the NWT Nominee Program Business Stream. However, it’s important to note that meeting the requirements does not guarantee nomination or approval. Applicants will be assessed based on various factors, including their business experience, financial capacity, language proficiency, and the potential economic benefits their business can bring to the NWT.
Step-by-Step Application Process
- Familiarize yourself with the eligibility requirements, program guidelines, and application process outlined by the NWTP.
- Conduct thorough research on the NWT business environment, market opportunities, and potential business ideas that align with your skills and interests.
- Prepare necessary documents, such as proof of net worth, business plan, language proficiency test results, and other supporting documents.
- Create an online account on the NWTP portal and submit an Expression of Interest (EOI) indicating your interest in the Business Stream.
- Provide accurate information about your personal background, business experience, investment plans, and other relevant details.
- If your EOI meets the selection criteria, you may be invited to submit a full application.
- Once invited, complete the full application package with all required forms, supporting documents, and the non-refundable application fee.
- Include a comprehensive business plan outlining your proposed venture, including market analysis, financial projections, and strategies for success.
- Submit all supporting documents, such as proof of net worth, educational qualifications, language proficiency, and other requested information.
- The NWTP will review your application, business plan, and supporting documents to assess your eligibility and the potential economic benefits of your proposed business.
- This assessment may involve interviews, additional document requests, and verification of the information provided.
- If your application is approved, you will receive a nomination certificate from the NWTP, indicating that you have been nominated for permanent residency.
- Use the nomination certificate to apply to the Government of Canada for permanent residency under the appropriate federal immigration program (e.g., the Federal Skilled Worker Program or the Canadian Experience Class).
- Follow the instructions provided by the federal immigration authorities for submitting your permanent residency application.
- As part of the federal application process, undergo background checks, including security clearances and criminal record checks.
- Complete a medical examination to ensure you meet the health requirements for immigration to Canada.
- If your federal application is approved, you will receive a Confirmation of Permanent Residency (COPR) and a permanent resident visa.
- Make travel arrangements to Canada and inform the NWTP of your intended arrival date.
- Upon arrival in the NWT, fulfill any remaining obligations outlined by the NWTP, such as starting or acquiring a business within the specified timeframe.
- Actively engage in the day-to-day management and operation of your business in accordance with the terms and conditions set by the NWTP.