Northwest Territories are becoming the new hot spot for business people to migrate to. The conditions and laws in the province are suitable to run the business efficiently and make profits. So, if you are a business person looking to migrate to canada from dubai, you can choose to buy an existing business or start a new business in the Northwest Territories. You should follow the requirements meant to be followed to apply for that specific province as listed below.
Business opportunities in the Northwest Territories
If you are interested in starting a new business or willing to buy an existing one in the North West Territories of Canada, you can apply to the business stream of North West Territories. The processes of applications are faster in this province than any other Canadian province. The business stream is the only option of getting a visa to enter and work in NWT of Canada. To get approved, you must meet the following requirements.
Requirements for business stream visa for North West Territories
• You should be willing to invest $300000 CAD in a business within the capital city of North West Territories or a $150000 in case of buying or starting a business outside Yellowknife
• A net worth of $500000 if your business is within Yellowknife and $250000 if that is outside Yellowknife boundaries
• You should invest $75000 CAD to the good faith deposit for the Department of Industry, Tourism, and Investment
• You must show 33.33% of business ownership
• A Canadian Language Benchmark score of minimum 4 is must
• Your business should bring significant improvement to the economy of North West Territories
• You must go for a business trip to the province at least once before migration
• You should be willing to settle down in the province permanently