The GNWT has announced changes to the Business Stream of the Northwest Territories Nominee Program to make the program more accessible and encourage business startups in the territory.
“The Business Stream provides a pathway to Canadian permanent residence for experienced businesspeople who establish themselves, invest, and operate a viable business in the Northwest Territories that significantly benefits the economy,” the GNWT says.
According to the GNWT, effective as of August 2, 2023, the investment requirements to join the program have decreased significantly.
Any resident with plans to invest and operate their business within Yellowknife now requires $200,000 in equity instead of the previous $300,000 requirement. Any business owner looking to invest and operate outside Yellowknife now requires $100,000 in equity instead of $150,000.
A full list of requirements and information regarding how to apply is available at www.immigratenwt.ca/business-stream.
