The Business Driven Nominee Program streams are designed to attract business expertise and investment capital to enhance the economic environment of the Northwest Territories. Prospective applicants submit applications on behalf of themselves.
Business Driven streams assist foreign nationals with the ability to establish, purchase, or invest in an existing business, selected primarily on the basis of its ability to create jobs for the foreign national and other Canadians. There are two categories under Business Driven stream:
Application process for both streams is the same, but each stream has specific criteria.
ENTREPRENEUR BUSINESS ELIGIBILITY CRITERIA
This stream will be of interest to entrepreneurs and/or owner/operators of businesses who want to immigrate to the Northwest Territories and establish business operations in the Northwest Territories. All economic sectors are eligible for this program.
Business projects will be considered a priority if they involve a product that is new to the Northwest Territories or if the product would generate significant benefits to the Northwest Territories.
The applicant must:
A minimum of $300,000 CDN equity into starting or buying a business within the corporate boundaries of Yellowknife, Northwest Territories; or
A minimum of $150,000 CDN equity into starting or buying a business outside of Yellowknife, Northwest Territories
- A personal Net Worth of:
At least $500,000 CDN if starting or buying a business within the corporate boundaries of Yellowknife, Northwest Territories; or
At least $250,000 CDN if starting or buying a business outside the corporate boundaries of Yellowknife, Northwest Territories
- Additional Requirements:
Have an additional $75,000 CDN kept in a trust account and released upon completion of a Performance Agreement based on a business proposal
Demonstrate a reasonable knowledge and understanding of the Northwest Territories and its economy
Be able to demonstrate reasonable communication skills appropriate to the Northwest Territories; and
Have the necessary experience and education to successfully implement the business plan
SELF-EMPLOYED BUSINESS ELIGIBILITY CRITERIA
This stream is designed to attract professionals who can provide a service that is in demand in the Northwest Territories, by establishing business outlets or professional practices. The applicant must:
Have a profession that is identified as a professional skill shortage
Satisfy any certification or accreditation requirements for the particular profession or occupation
For regulated occupations, the nominee must meet all Northwest Territories regulatory authority requirements
Demonstrate reasonable communication skills appropriate to the Northwest Territories
Demonstrate reasonable knowledge and understanding of the Northwest Territories and its economy
Demonstrate access to sufficient financial resources
Submit a detailed business plan
BUSINESS DRIVEN STREAM PROCESS
1. Application Process:
Submit the Application
2. Assessment Process:
The applicant must submit a complete application and business plan for review by the Assistant Deputy Minister of Industry, Tourism and Investment. This review may involve other government departments and agencies deemed necessary. Step #1 - Self-Assessment & Application Step #2 - Reviewing the Application Step #3 - Detailed Business Plan Step #4 - Assistant Deputy Minister Recommendation Step #5 - Developing the Business Step #6 - Assistant Deputy Minister Approval
3. Application Approval and Nomination Process
Note 1:Nominations are valid for one year only. Citizenship and Immigration Canada does not grant extensions.