Northwest Territories Business Stream
Northwest Territories Business Stream
The Northwest Territories Business Stream is aimed at entrepreneurs with business expertise and investment capital, who wish to purchase or start a business in the region.
Northwest Territories Business Stream: Requirements
- Invest:
- A minimum of $300,000 equity into starting or buying a business within the corporate boundaries of Yellowknife, NWT, or
- A minimum of $150,000 equity into starting or buying a business outside of the corporate boundaries of Yellowknife, NWT.
- Have a personal net worth of:
- At least $500,000 if starting or buying a business within the corporate boundaries of Yellowknife, NWT, or
- At least $250,000 if starting or buying a business outside the corporate boundaries of Yellowknife, NWT.
- Demonstrate they own at least one third (33.3%) of the business they are starting or buying. Where the personal equity investment is at least $1 million the applicant may own less than one-third.
- Provide a good faith deposit of $75,000 to be held in trust and released upon satisfactory execution of the terms of the Business Performance Agreement;
- Achieve Canadian Language Benchmark level 4 in English or the equivalent language level against the Niveaux de competence linquistiqueCanadiens (NCLC) in French. Recognized tests are IELTS and CELPIP for English and TEF for French.
- Demonstrate a reasonable knowledge and understanding of the NWT and its economy;
- Be able to demonstrate reasonable communication skills appropriate to conduct business in NWT;
- Have the necessary experience and education to successfully implement the business plan.
- Demonstrate sufficient financial resources to start and operate a business and support themselves and any dependents for the duration of the Business Performance Agreement
- Not have an active application with any other provincial or territorial nominee program;
- Not have an active application with any other stream of the NWT Nominee Program.
- Not be a refugee claimant.
