The Business Stream of the Northwest Territories Nominee Program (NTNP) offers permanent residence in Canada to entrepreneurs who are willing to invest in a new or existing business that brings economic benefits to the region.
To apply for participation under this stream, the applicant needs to meet the following requirements:
- Invest a minimum of C$300,000 in a business situated in Yellowknife or C$150,000 in other locations of the Northwest Territories
- Have at least C$500,000 of net worth (for those who are planning to do business in Yellowknife) or C$250,000 (for those who are planning to do business in other locations)
- Be ready to provide a deposit of C$75,000 to the Department of Industry, Tourism, and Investment. The deposit will be returned after the applicant meets the requirements for business organization
- Provide a business plan, according to which the applicant’s share of ownership is no less than 33.33% (unless the investment amount is higher than C$1 million)
- Have a Canadian Language Benchmark (CLB) score of 4 or higher for English or French in all four language abilities (reading, speaking, listening, writing). The eligible tests include IELTS and CELPIP for English and TEF for French
- Demonstrate knowledge and understanding of the Northwest Territories and its economy
- Be ready to make at least one business trip to the Northwest Territories to gain knowledge about the territory’s business environment
- Have experience and education to implement the business plan
Find out about other NTNP streams in the article “Immigration to the Northwest Territories“.