The Category of Impact on Prince Edward Island issues permanent residence to entrepreneurs who have established a business in the province.
Job authorization process works on a two-stage basis:
- Candidates come to Canada on a temporary work permit and establish their business.
- Candidates are nominated for permanent residence once their business is established and the terms of an agreement met.
The province previously operated direct permanent residence business streams but these were closed due to immigration fraud concerns in September 2018.
North West Territories:
The market stream of the North West Territories is targeted at businessmen with business experience and venture capital, who wish to purchase or start a company in the area.
Northwest Territories Business Stream: Requirements
Have a personal net worth of:
- At least $500,000 if starting or buying a business within the corporate boundaries of Yellowknife, NWT, or
- At least $250,000 if starting or buying a business outside the corporate boundaries of Yellowknife, NWT.
- A minimum of $300,000 equity into starting or buying a business within the corporate boundaries of Yellowknife, NWT, or
- A minimum of $150,000 equity into starting or buying a business outside of the corporate boundaries of Yellowknife, NWT.
Yukon Business Nominee Program enables businesspeople to own and operate their business in Yukon.
Initially, applicants come to Yukon on a two-year work permit, before being eligible for permanent residency if they develop their company successfully.
Yukon Business Nominee Program:
- The legally-acquired net worth of at least $500,000, documented and verified by a Yukon accounting firm.
- Legally-acquired minimum of $300,000 in liquid assets, documented and verified by a Yukon accounting firm.
- Invest at least $300,000 in capital investments for the business in the first 2 years.
- This does not include any capital investments made before acceptance into the Yukon Business Nominee Program.
- Capital investments include purchases such as property or equipment. It does not include purchases such as a house, vehicles that are only partially for the business and operational or maintenance expenses.