This category is for entrepreneurs and/or owner/operators of businesses, who want to immigrate to Northwest Territory (NWT) and establish business operations in the territory. Businesses are considered priority for assessment under this stream if they involve the introduction of a product that is new to the NWT, or if the business you want to do would generate significant profits for the territory. A business plan must be provided for this.
If you want to apply under this category, you have to meet the following criteria:
Invest:
- You have to have a minimum of $300,000 into starting or buying a business in Yellowknife
- You have to have a minimum of $150,000 into starting or buying a business outside of Yellowknife
Have a Personal Net Worth Of:
- You have at least $500,000 if starting or buying a business in Yellowknife
- You have at least $250,000 into starting of buying a business outside of Yellowknife
- You also have additional $75,000 kept in a trust account and releases upon completion of a performance Agreement based on a business proposal
- You have to demonstrate a knowledge and understanding of Northwest Territory (NWT) and about its economy as well
- You also have to show that you have the necessary education and experience to implement the business plan
Those are few basic requirements in order to qualify for entrepreneur business. You must have to meet the eligibility criteria, if you want to apply under entrepreneur business. Businesses in all economic sectors are welcome to apply, however businesses will come up with new product or a product of significant benefit to the Northwest Territories are given priority.
If you have any further question about entrepreneur category and its eligibility, please give us call or send us email, we will happy to provide to information about your concerns and will find a best option for you.