The Entrepreneur Business Category

To qualify under the Entrepreneur Business category of the NTNP an applicant must:

• Show a proposal to start or purchase a business in the Northwest Territories;
• Invest a minimum of $300,000 CDN into starting or buying a business in the Yellowknife area, or invest a minimum of $150,000 CDN into starting or buying a business outside the Yellowknife area;
• Have a personal net worth of $500,000 CDN if their intended business is in the Yellowknife area, or a minimum net worth of $250,000 CDN if their intended business is outside the Yellowknife area;
• Have $75,000 CDN kept in a trust account, to be released upon the completion of a Performance Agreement based on the applicant’s business proposal;
• Show a knowledge and understanding of the Northwest Territories and its economy;
• Be able to communicate in one of the official languages; and
• Have the experience and education necessary to implement their business plan.

The Self-Employed Business Category

To qualify under the Self-Employed Business category of the NTNP, an applicant must:

• Have a profession or occupation that has been listed as a professional skill shortage in the Northwest Territories;
• Satisfy a certification or accreditation requirement for the profession or occupation;
• Be licensed/ accepted by the body governing the profession, if applicable;
• Be able to conduct basic communications in an official language;
• Show a knowledge of the Northwest Territories of its social, economic and weather conditions;
• Demonstrate that he/she has sufficient financial resources to start and operate the professional practice and to support himself/ herself and any dependents for a period of six months;
• Submit a detailed business plan for the business or practice.