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
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.