Northwest Territories Business Stream (NTB)
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SUMMARY
This program is for entrepreneurs who want to live in Northwest Territories. They must start a new business or buy an existing business and must actively participate in the day-to-day management of the business.
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MINIMUM REQUIREMENTS
The following requirements must be met if you are applying to Northwest Territories Business Stream:
1- Net Worth
If you intend to start or buy your business in Yellowknife, you must have net worth of at least $500,000 CAD.
If you intend to start or buy your business outside Yellowknife, you must have net worth of at least $250,000 CAD.
2- Language Ability
You must have taken an approved test results and have obtained a minimum score of Canadian Language Benchmark CLB 4 in all for abilities in English or French (➨Appendix 5).
3- Experience and Education
You must have the necessary experience and education to successfully implement the business plan.
Ready to take the next step towards your Canadian immigration journey? Fill out the form below and embark on your path to new opportunities.
NORTHWEST TERRITORIES BUSINESS REQUIREMENTS
In order to qualify as an eligible business under the Business Stream, you must have an intention to buy or establish a business in Northwest Territories that meets the following criteria:
1- Business Investment
You must invest a minimum of $300,000 CAD into starting or buying a business in Yellowknife; or a minimum of $150,000 CAD into starting or buying a business outside Yellowknife.
2- Business Ownership
You must own at least one third (33.33%) of the equity of a business in Northwest Territories.
Where your personal equity investment is at least $1,000,000, you may own less than one-third (33.3%).
If purchasing an existing business, the business must have been in continuous operation by the same owner in the Northwest Territories for the previous three (3) years. It must also be actively in operation.
3- Type of Business
The business purpose must be to make a profit from active income through the sale of goods and/or services.
The following types of businesses are not eligible under the Northwest Territories Business Stream:
- Restaurants proposed within the city limits of Yellowknife;
- Seasonal businesses operational for less than six (6) months per year;
- Bed and Breakfasts;
- Property Management;
- Real Estate Development;
- Home based businesses;
- Non-profit organizations and associations;
- Any business that has the same listed head office as another registered business;
- Payday loan, cheque cashing, money changing and cash machine businesses;
- Pawnbrokers;
- Businesses previously owned or operated in the last five (5) years by current or former Nominee Program business stream nominees;
- Any immigration linked investment scheme;
- Any business where the terms of investment include a redemption option;
- A business that by association would tend to bring the Nominee Program or the Government of the Northwest Territories into disrepute.
4- Job Creation
If starting a new business, you must create at least one (1) full-time job and one (1) part-time employee for Canadian citizens or permanent residents if the business is to be located in Yellowknife; or one (1) full-time or two (2) part-time employees if the business is to be located outside Yellowknife.
If purchasing an existing business, when purchasing an existing business in the Northwest Territories, the number of jobs in the business and the wages associated with those jobs cannot be lowered when the business is purchased.
5- Active Management
You must provide active and on-going participation in the day to day management and direction of the business at the business site.
6- Ineligibility
You are not eligible to apply under the Northwest Territories Business Stream if you are a refugee claimant in Canada, a failed refugee claimant, had a removal order, are prohibited from entering or being in Canada, do not have status in Canada or are living illegally in your country of residence.
WHAT STEPS SHOULD YOU TAKE?
Step 1: Exploratory Trip
Prior to being invited by Nominee Program staff to submit an application, you are required to make a business trip to the Northwest Territories. The purpose of the trip is to gain knowledge of the Northwest Territories business environment and what is required to turn a working business concept into a business plan.
The business trip must be for a minimum of four (4) full business days to the location of the business being proposed.
To find out how you can travel to Canada for a temporary visit, see (➨Page).
Step 2: Interview and Submission of NTNP Initial Application (Pre-Screening)
You must submit an initial application form including Nominee Information Form, Application Fee, Resume and Your Language results at least one (1) week prior to interview.
One day prior to your first interview, you are required to submit a short summary of the business concept you wish to pursue for your Nominee Program application.
You are required to participate in one or more face-to-face interviews with Business Stream Nominee Program staff at the Regional Centre located closest to the place of the proposed business. Where possible, interviews can be scheduled for the next business day directly following the completion of the business trip requirement.
If you are proposing to invest in an existing business in the Northwest Territories, the owner of the business must also participate in a separate interview with Nominee Program staff.
The purpose of the interview(s) is to review your working business concept, assess your knowledge of the Northwest Territories, and assess your business and communication skills. You should be prepared to speak about the research undertaken during your exploratory visit, including detailed information regarding who you met with, what was discussed and how such meetings contributed to your knowledge of the doing business in the Northwest Territories and the development of their business concept. The Evaluation Committee will conduct the interview and evaluate against the prescribed criteria.
You will be notified of the results of the face-to-face interview. If the result is positive you will be given sixty (60) business days from being notified of the positive result to submit the following documents for consideration:
- a written summary of your business concept with a basic outline of the investments that will be made; and
- a summary of your findings from the business trip to the Northwest Territories.
If NTNP is satisfied with the information provided and approves your business concept, you will be invited in writing to formally apply to the Nominee Program.
Step 3: Prepare documents
In addition to the applications forms and supporting documents, before submission of complete application, you need to prepare a complete Business Plan and a Net Worth Verification Report.
Business Plan
You will need to submit a Business Plan as part of your application. This must include the following:
- Invest a minimum of $300,000 CAD into starting or buying a business in Yellowknife; or a minimum of $150,000 CAD into starting or buying a business outside Yellowknife.
- Ownership of at least one third (33.33%) of the equity of a business in Northwest Territories.
- Commitment to provide active and on-going participation in the day to day management and direction of the business at the business site.
Net Worth Verification Report
As part of your application, you must provide a Net Worth Verification Report. This report must be prepared by one of designated third party Net Worth Verifiers. These verifiers are experts in assessing net worth and legal accumulation of net worth. NTNP will identify the Financial Service Provider for you once you receive a Letter of Invitation.
Step 4: Submit the formal NTNP application
Following your successful interview and receiving an invitation to apply, you are expected to submit your application by providing the following:
- Application Forms;
- All supporting documentation;
- A Business Establishment Plan; and
- A Net Worth Verification Report
| NTNP Initial Application | |
| Submit application to: | |
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Trade and Business Immigration Unit Business Support, Trade and Economic Analysis Industry, Tourism and Investment Government of the Northwest Territories 9th Floor, 5102 50th Avenue Yellowknife, Northwest Territories X1A 2L9 |
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| Official Program Guide: | |
| immilib.com/NTB-Guide | |
| NTNP Application Fee: | |
| $2,800 | |
| Processing Time: | |
| immilib.com/NTB-PT | |
| Document Checklist: | |
| Contact: | |
| 855-440-5450 | |
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E-mail: [email protected] |
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You have six (6) months from the date of the letter of invitation, to apply.
If you submit a complete application, it will be assessed against the eligibility criteria and your business plan.
Once a review of the application is complete, Nominee Program staff will make a recommendation to accept or deny the application. The recommendation is made to the Assistant Deputy Minister of the Department of Industry, Tourism and Investment who will make the final decision to accept or deny the application. The prospective applicant will receive a formal letter (by e-mail or postal service) communicating the decision.
You must provide to the Department of Industry, Tourism and Investment a good faith deposit of $75,000 CAD to be held in trust and released upon satisfactory execution of the terms of the Business Performance Agreement.
Once the Business Performance Agreement is signed and the $75,000 good faith deposit is received, NTNP will provide you with a letter of support for a two (2) year temporary work permit.
Step 5: Apply for Work permit
Upon receipt of your signed and dated Business Performance Agreement, NTNP will issue you with an Entrepreneur Approval Letter and instructions on how to apply for a Work Permit. A work permit allows you to settle in the Northwest Territories and operate your business.
You must then provide the letter of support, your business plan and your signed Business Performance Agreement to the Government of Canada with an application for a temporary work permit.
You must apply for your work permit (➨Page) within two (2) months of the date on the Entrepreneur Approval Letter.
Step 6: Business Establishment in Northwest Territories
If your application for a Work Permit is approved, you will be expected to arrive in the Northwest Territories within twelve (12) months of receiving your Entrepreneur Approval Letter.
All approved applicants are required to meet with staff of office of Immigration within 60 calendar days of their Arrival Date. During the meeting an Officer will be available to answer questions related to fulfilling the terms of the Business Performance Agreement and also refer you to other service providers for relevant information and guidance related to the establishment of your business or settlement in Northwest Territories.
Upon arrival in Northwest Territories, it is recommended that you start operating your business within six (6) months of your Arrival Date. You must operate your business for a minimum of one (1) year before you are eligible for nomination.
Step 7: Request for Nomination
Once NTNP staff has evaluated your business and determined that you have fulfilled all of the requirements of your Business Performance Agreement, you will be required to take part in a final exit interview with NTNP staff.
The purpose of the exit interview is to discuss your time in the Northwest Territories over the past two (2) years and your current and future plans for your business. NTNP staff will also use the exit interview as an opportunity to determine the likelihood of your continued settlement in the Northwest Territories.
If NTNP staff decides to recommend your nomination, the Government of the Northwest Territories will issue a nomination certificate to you.
Step 8: Apply for Permanent Residence
If you are nominated by the Northwest Territories, then your next step is to submit a complete application for a permanent resident visa within six (6) months (➨Page).
You must submit your application using the IRCC Permanent Residence Portal (PR Portal) (➨ immilib.com/PR-Portal).
If your application is complete, you will receive a letter or an email confirming that your file has been received and accepted for processing. This letter is called the Acknowledge of Receipt (AOR) and will include your IRCC file number.
Once you have received your acknowledgement of receipt, you can create an online account and link your application to it. By creating an account, you will be able to receive email updates and a more detailed case status.
Step 9: Landing in Canada
You will only become a Permanent Resident of Canada when you cross a Canadian port of entry. This is referred to as ‘landing in Canada’ (➨Page).
You must land in Canada before the expiry date, which appears on your Canada Immigration Visa. Usually, the expiry date is one (1) year from the time medical examinations were completed. As this is not always the case, be sure to verify the expiry date as soon as the Canada Immigration Visa is received.
Ready to take the next step towards your Canadian immigration journey? Fill out the form below and embark on your path to new opportunities.