​Northwest Territories Immigration Nominee Program – Entrepreneur Stream

The Northwest Territories Immigration Nominee Program (NWTINP) Entrepreneur Stream offers an opportunity for individuals with strong business plans to establish or purchase a business in the Northwest Territories (NWT) while working towards permanent residency.

Application Process

The first step is to complete a self-evaluation to determine eligibility for the program. If deemed eligible, the applicant submits their application, which is reviewed by the territory.

The program is open to all economic sectors; however, priority is given to business proposals that:

• Offer new products or services to NWT, or
• Create significant economic benefits for the region.

Business proposals can involve either the establishment of a new business or the purchase of an existing business, provided they demonstrate incremental benefits for the territory.

Eligibility Requirements

To qualify for the Entrepreneur Stream, applicants must meet the following criteria:

1. Investment Requirements:
   • $300,000 CAD minimum equity for starting or purchasing a business within Yellowknife’s corporate boundary, or
   • $150,000 CAD minimum equity for starting or purchasing a business outside Yellowknife’s corporate boundary.
2. Net Worth:
   • $500,000 CAD minimum personal net worth for businesses within Yellowknife, or
   • $250,000 CAD minimum personal net worth for businesses outside Yellowknife.
3. Trust Account Deposit:
   • Deposit $75,000 CAD in a trust account, which will be refunded without interest upon fulfilling the terms of the Business Performance Agreement (BPA).
4. Other Requirements:
   • A solid understanding of the territory and its economy.
   • Effective communication skills.
   • The necessary education and experience to execute the business plan successfully.

Nomination Process

If the Assistant Deputy Minister approves the business plan, the applicant may receive a nomination for temporary residence to establish their business as per the BPA. Upon successfully fulfilling the conditions of the agreement, the applicant becomes eligible for nomination to apply to Immigration, Refugees, and Citizenship Canada (IRCC) for permanent residency.

Federal Government Considerations

It’s important to note that receiving a nomination from NWT does not guarantee permanent residency. The IRCC conducts a final review of all permanent residency applications, including checks for:

• Admissibility criteria such as criminal records or medical conditions.
• Compliance with the Immigration and Refugee Protection Act.

Applications may be refused if the applicant fails to meet federal requirements.

This program represents a pathway for entrepreneurs to contribute to the Northwest Territories’ economic growth while building a future in Canada.