It is a 2 years procedure after which the applicant can get the chance of getting Canada PR. The Northwest Territories have a nature enriched with resources like minerals, gas, oil, etc. These resources have been proven to be very useful for this place’s economy.
• The minimum amount to be invested varies from $150000 CDN to $3000000 CDN depending on the location of the business. The main factor here is whether it is situated in Yellowknife of not. If it is inside that area, the least quantity of money to be invested will increase.
• Having a proper plan of business is a must.
• The business plan should be able to provide jobs and contribute to the economy of the country.
• The candidate has to own more than 33.29% of the business.
• The candidate has to be very good in English or French. He or she should have enough skill to speak, listen, write and read in at least one of the stated languages.
• He or she needs to have some good amount of knowledge and experience needed to conduct a business successfully.
• His or her net worth should be no less than $250000 CDN. The amount varies from $250000 CDN to $250000 CDN based on the business location.
The businesses mentioned below are among the ones that will not be accepted no matter what.
• B&B business.
• Non-permanent business.
• Housing business and anything related.
• Eatery inside Yellowknife.
• Business related to asset management.
• Pawnbroker.
• Cash machine business.
• NPO and related services.
