What is the Business Immigration Program?
This is the Stream with the purposes to attract foreigners to apply for a Canadian Permanent Residence in The Northwest Territories (NWT) region. This Stream encourages people who are interested in establishing, investing and purchasing the business in the Northwest Territories area and potential applicants are considered to be selected primarily based on their ability to create jobs for other Canadians and for foreigners who are living in Northwest Territories region.
To be eligible under the Northwest Territories Business Stream, applicants should:
- At least $300,000 CAD to start or buy a business within the areas of Yellowknife, Northwest Territories.
- At least $150,000 CAD to start or buy a business outside of the area of Yellowknife, Northwest Territories.
- Should have a net worth of:
- A minimum of $500,000 CAD to prove that the applicants can start or buy a business.
- At least $250,000 CAD if the applicants buy or start a business outside the area of Yellowknife, Northwest Territories.
- Applicants should indicate that least one-third (33.3 percent) of the business the applicants own;
- In case the applicant makes a personal equity investment of $1,000,000 CAD, the applicants may own less than one-third (33.3 percent) of the equity.
- A faith deposit of $75,000 CAD should be presented to be released upon satisfactory execution of the terms upon the Agreement of Business Performance.
- Understanding the Northwest Territories region and its economy;
- English or French language proficiency meets the requirement of the Canadian Language Benchmark (CLB) level 4.
Note: Results for the test should no older than two ( 2) years:
- The International English Language Testing System (IELTS).
- The Canadian English Language Proficiency Index Program (CELPIP-General)
- The Test d’Évaluation de Français (TEF) (French language).
- Education and experience should meet the requirements to successfully execute and implement the business plan.
- Enough budget for finance to operate a business and support themselves.
- Not take part in any application with any other NTNP Stream at the same time with this stream.
- Good communication skills to conduct business in the Northwest Territories.
There are eight steps to the nomination process:
Step 1: Initial Investigations and Self Evaluation
Applicants for this program are encouraged to research the Northwest Territories areas to understand its environments, people, and to develop a business working concept. In case a prospective applicant plans to buy an existing business, the business operation situation must have been in continuous operation by the same owner for the three (3) years prior to applying. Jobs in the business and the salaries for employees should not be lowered when the business is purchased.
Step 2: Face‐to‐Face Interview(s)
Potential applicants are required to go for a business trip to the Northwest Territories before to gain a more comprehensive understanding and knowledge of the Northwest Territories business environment and how they can think of the next steps to turn make the business concept into a business plan. A Business trip is at least 4 days and should not include travel days.
Applicants will be invited for a face‐to‐face interview with Nominee Program staff after the business trip. This aim is to review how everything is going on with the business concept and to assess the foreign national’s knowledge of the Northwest Territories and further steps or questions about the Northwest Territories area.
Step 3: Expression of Interest
After the interview with the Nominee Program staff, the potential applicants will be notified of the results. If the applicants received a positive result for the interview, then they will have sixty (60) days to submit the following documents:
- An outline summary of the working business concept ( written only).
- A summary of what the applicants found out from their business trip to the Northwest Territories.
Applicants will receive an invitation letter if the Department of Industry Tourism and Investment find the information provided satisfactorily and the business concept is promising by proving its value to the area and people in the Northwest Territories region.
Step 4: Formal Application
Once applicants are invited to formally apply, the candidates only have nine months to submit a complete application to the Nominee Program.
Also, the fee for the application should be paid in full. The Third-Party Financial Verification Report, detailed business plan and copy of the NTNP‐05 ( Authorize or Cancel a Representative) must be submitted within the nine-month.
Incomplete applications will not be processed and applicants need to start again from the beginning.
Step 5: Application Review
After applicants submitted the complete formal application, the Nominee Program staff will review both the applicant’s application and the business plan. More documents or interviews can be requested if necessary.
Nominee Program staff will consider whether the applicants should be recommended for entry into the NTNP or be evaluated as ineligible applicants for the program.
Application for reviews should meet the following criteria:
- The potential of the business concept to create jobs for residents and foreigners in the Northwest Territories areas;
- If the business to be sustainable in the Northwest Territories region over the long-term or not.
- What economic advantages that the business can provide to the region and local people.
- The potential of applicants to successfully implement business based on the Northwest Territories nature and local people.
- Accurate financial statements and financial support with a relevant business plan.
Step 6: Approval and the Business Performance Agreement
The applicants will be informed by NTNP staff after they got approved all the plans and previous documents. The NTNP will then start to negotiate, and discuss a Business Performance Agreement with the applicant.
The $75,000 CAD good faith deposit has been received once the applicants signed the Agreement. After that, applicants will receive a temporary work permit in two-year and if they wish for longer then they should apply an application to IRCC.
Step 7: Developing the Business
Applicants should prepare to establish the business within six months after arriving in the Northwest Territories and applicants should also explain how they spend the required eligible investment.
The applicants have a maximum of two years to develop the business concept described in the business plan. The applicants must demonstrate that they are actively involving and operating to manage the business.
Step 8: Nomination
If applicants fulfilled all the requirements and terms set out in the Business Performance Agreement, the Government of the Northwest Territories will issue a nomination certificate to the applicant. Thus the applicants can apply to IRCC for permanent residence.
Business Stream Nominee Application Checklist
- NTNP-01 – Nominee Information form.
- NTNP-03 – Business Nominee Program Checklist
- NTNP-04 – Personal Statement of Financial Affairs
- NTNP-05 – Authorize or Cancel a Representative Form.
- NTNP-06 – Business Stream Nominee Application Fee Payment Form
- Electronic Wire Transfer Receipts ( as proof of payment of the $2800 application fee)
- Interview and Visit Event summary
- Business Plan
- Proof and supporting documentation of Third Party Financial Verification
- Translator Affidavit
- Birth Certificate ( all the copies should be translated to English or French)
- Adoption Certificate
- National Identity Card
- Marriage Certificate or Statutory Declaration of Common-Law
- Divorce or Death Certificate
- Educational Certificates.
More information about Application Form can be found here.
Frequently Asked Questions
- If I am a refugee claimant in Canada can I apply for the program?
No, if you are a refugee claimant in Canada you are considered to be ineligible for the program.
- What happens if I am unaware of the business plan?
It is encouraged to know the business plan although the third party may help with the plan. However, if you are unaware of the business content your application will be denied.
- Do I need to hire a lawyer, consultant, or representative to advise me on my application?
No, you don’t need to hire or use an immigration representative to apply to the Nominee Program.
- How much is the application fee?
The application fee is $2,800, it must be paid a minimum of 1 week before the first interview with NTNP staff.