Business Driven program seeks to attract those individuals, who possess an expertise in running business, in addition to having a considerable amount of money to invest in a new or an already existing business. The selection of applications is done, based upon their ability to create job opportunities for Canadians as well as the foreign nationals living in the province.
The process of application starts with the applicant sharing an idea for a working business, and their intention of moving to the Northwest Territories. After the applicants submit their business concepts along with their applications, they are then moved to get reviewed by the Department of Industry, Tourism and Investment.
Whichever applications get an approval, their plan for business is put to implementation, a certificate of nomination is issued to them, and they are then eligible to apply further for a PR under IRCC.
There are two sub-categories that fall under this program:
- Entrepreneur Stream
- Self Employed Stream (this sub-category is now permanently closed.)
Under this stream, those entrepreneurs who look forward to move permanently to NWT, while getting their own business established and fully operational in the region, get an opportunity to do so. There is no bar on the economic sector to which a candidate should belong; but, the concept of the proposed business, as well as the product they intend to sell, does matter. It holds more significance, if say, the business is set to generate some serious benefits for the local economy, or if the product they’re introducing, has never been proposed to the people of the region before, and so on.
Here are the minimum requirements for a candidate to fulfill, if they are to attain eligibility under this stream: