Northwest Territories Business Driven Stream

Business Driven Stream

The Northwest Territories Business Driven Stream is a category of the Northwest Territories Provincial Nominee Program (PNP) designed to attract and support foreign entrepreneurs interested in starting or acquiring a business in the Northwest Territories. This stream is intended to help stimulate economic growth and create new regional job opportunities. To be eligible for this program, candidates must have a viable business plan, relevant business management experience, and sufficient funds to invest in their business. Successful applicants will receive a nomination from the government of the Northwest Territories, which can then be used to apply for permanent residency in Canada. Through the Business Driven Stream, the Northwest Territories PNP aims to encourage the establishment and growth of new businesses in the region while providing a pathway for skilled and experienced entrepreneurs to make Canada their home.

Eligibility

For foreign workers of all NOC Skill Levels.

Criterion	Minimum Requirement
Investment	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 the corporate boundaries of Yellowknife, Northwest Territories.
Personal Net Worth	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.
Language Ability	CLB 4
Intention To Reside	The applicant must intend to reside in the province.

How to apply

Conduct the self-assessment to determine if you meet the minimum eligibility criteria.
Make an exploratory visit NWT and a face-to-face interview.
The province will conduct a pre-screening of your business concept and evaluate your interview results. If you are successful, you will be invited to apply and submit your application and business plan.
Your application will be reviewed, and the province will set up a Business Performance Agreement if it is approved. Business Performance Agreement is an agreement between The Government of the Northwest Territories and the applicant. This is a two-year agreement that outlines the conditions necessary for you to be granted a nomination certificate. After that, it’s over to you to develop and run your business! If successful, you are nominated for Canadian Permanent Residency.

The application and assessment process

Self-assessment and initial investigations;
Further investigations and a face-to-face interview
An invitation to apply
Formal application
Application review
Approval and the Business Performance Agreement.
Developing the business
Nomination and Final Report Submission.