Yukon Business Nominee Program (YBNP)

Last updated: 16 October 2020

The YBNP targets individuals with proven business skills looking to own and operate a business in Yukon and make a significant contribution to the community.

Yukon is seeking people with entrepreneurial skills who can participate in Yukon’s business community and help expand and diversify its economy. Applicants must be willing to hold an active managerial role in the Yukon business.

If an applicant is approved by the program, he or she becomes a nominee and will receive support for a Two Year Work Permit issued by Immigration, Refugees and Citizenship Canada (IRCC). The work permit gives the nominee the opportunity to establish him/herself, family, and business in Yukon. At the end of the two-year period, those who meet all the eligibility requirements will be supported by the territory in their application to IRCC for Permanent Residence.

This page will provide further details on the following relevant topics:

 

Minimum Eligibility Criteria

Minimum Requirements for Applicants

In order to be eligible under the Yukon Business Nominee Program, applicants must:

  • Achieve a minimum score of 65 points on the Nominee Assessment Grid (including a minimum of 10 points for language ability);
  • Achieve at minimum either:
    • Level 6 in the International English Language Testing System (IELTS), or
    • Level 4 in the Test d’Evaluation De Francais (TEF);
  • Have at least three years of entrepreneurial or business management experience;
  • Have at least five years of relevant experience related to the proposed business venture; 
  • Have a minimum net worth of $500,000 CAD, verified by a Yukon accounting firm;
  • Have at least $300,000 CAD in liquid assets (cash, bonds, cash derivatives etc.), verified by a Yukon accounting firm;
  • Provide proof that the claimed net worth and liquid assets has been obtained through legal means;
  • Submit a Resettlement Plan demonstrating their intent to establish Yukon residency; and
  • Intend to settle permanently in Yukon and actively operate a business in the territory.

Business Plan

The Business Plan is submitted after the applicant has received approval in principle on eligibility and on their proposed venture. It must include a detailed outline of how the applicant will establish a successful business venture in one of the industries listed on the Strategic Sector List (see below). The applicant must demonstrate a minimum $300,000 CAD investment in the business with a minimum 33.33 percent (one-third) ownership. In addition, the applicant must demonstrate active and ongoing management of the business.

Additional Requirements For Year One in Yukon as a Nominee

Upon arrival in the territory, nominees must have a mandatory meeting with a YBNP representative. If delays occur the nominee is required to inform the YBNP office immediately. Additionally, the nominee’s residency and start-up process must begin immediately. All legal documents supporting such activity must be provided to the YBNP and documentation showing proof of business operations is required throughout the year. All nominees must meet with YBNP staff or be visited on-site (business or residence) on a quarterly basis.

Additional Requirements for Year Two in Yukon as a Nominee

Nominees are expected to have their business operational and all members of the family residing year-round in Yukon by their second year in the territory. During this second year, nominees are to produce all documentation to support their application for Permanent Residence.

This documentation includes:

  • Year End Financial Statements (Notice to Reader),
  • Person residence rent receipts or mortgage statements,
  • Personal utility receipts,
  • Business rent receipts or mortgage payments,
  • Business utility receipts,
  • List of business suppliers and customers,
  • Other documents required by the YBNP.

Lastly, all nominees will be subject to a final on-site visit (at home or at work).

Final Approval For Support Of Permanent Residence

Nominees must complete the necessary requirements during the two year work period In order to be supported by YBNP in their application to IRCC for permanent residency. Once the nominee receives the letter of final approval, he or she must apply to IRCC for Permanent Residence within three months. Nominees are responsible for ensuring they hold a valid work permit until they receive permanent resident status from IRCC.

An individual must provide proof of the following in order to be considered for nomination to IRCC:

  • He or she resides in Yukon;
  • His or her business in Yukon is operational; 
  • He or she has met the investment requirements; and
  • He or she has met the meeting requirements.

Nominee Assessment Grid

Using the Nominee Assessment Grid, applicants are awarded a score based on seven selection factors including Business Resources, Personal Net Worth, Age, Prior Visit, Education and Training, Work Experience, and Language Ability. 

To be eligible, candidates must score a minimum of 56 points, including a minimum of 10 points in the Language Ability section. 

Selection Factors

Selection factorPoints
Investment valueMaximum 12 points
Liquid assetsMaximum 8 points
Personal Net WorthMaximum 8 points
AgeMaximum 10 points
Prior VisitMaximum 8 points
Education and TrainingMaximum 20 points
Entrepreneurial/Business Management ExperienceMaximum 10 points
Work ExperienceMaximum 10 points
Language AbilityMaximum 12 points
Location of Proposed BusinessMaximum 5 points
TotalMaximum 103 points
Pass mark:65 Points

Business Resources

Points in this section are awarded based on the amount of investment planned in the business.

Investment Value ($CAD)Points
Less than $300,000Ineligible
$300,000 - $400,0006
$401,000 - $750,0008
$751,000+12

Liquid Assets

Liquid Assets points are awarded based on proof of cash, demand deposits with a bank or financial institution, short-term deposits and readily marketable investments including publicly traded stocks or bonds.

Liquid Assets ($CAD)Points
Less than $300,000Ineligible
$300,000 - $450,0006
$451,000+8

Personal Net Worth

Personal Net Worth points are awarded based on the documented proof of assets less liabilities.

Net Worth ($CAD)Points
Less than $500,000Ineligible
$500,000 - $750,0006
$751,000+8

Age

Points are awarded for age according to the date indicated on the applicant’s passport.

AgePoints
21-4910
50-518
52-536
54-554
56+0

Prior Visit

Points are awarded based on documented proof that the applicant has travelled to Yukon prior to the submission of an application.

Visit DurationPoints
Less than 3 days0
3-6 days4
7-10 days6
11+ days8

Education and Training

Education points are awarded based on the documented proof of completed education and training programs.

 Years of EducationEducationPoints
12Completed secondary school10
12-13Completed Post-secondary Program of 1 year 12
14-16

Completed Post-secondary Program of 2 years

16
17-18Bachelors18
18+Masters or Doctorate20

Entrepreneurial/Business Management Experience

Points are awarded based on documented proof of entrepreneurial or business management experience.

YearsPoints
3-58
6+10

Work Experience

Points in the work experience category are awarded based on documented proof of relevant experience for the business being proposed (unless it is already demonstrated in the documents provided to show business management or entrepreneurial experience).

YearsPoints
5-78
8+10

Language Ability

Points are awarded for language ability according to documented proof of training and ability in either English or French. The only accepted form of documented proof is an original certificate from either the English IELTS or French TEF programs.

LevelPoints
IELTS 7/TEF 5 and above12
IELTS 6/TEF 48
Lower than IELTS 6/TEF 40

 

Location of Proposed Business

Points are awarded based on the location of the proposed business.

LocationPoints
In Whitehorse and surrounding areas0
In rural communities5

Strategic Sectors List

Only businesses in one of the sectors identified on this list are eligible under the YBNP. If a sector is not on this list, a nominee cannot open or invest in a business within that sector in order to meet their eligibility requirements.

The following are the eligible strategic sectors:

  • Information Technology
  • Manufacturing
  • Value-added processing
  • Forestry
  • Tourism Products, Attractions, Services and Facilities
  • Energy
  • Mining/mineral development
  • Agriculture
  • Cultural industries
  • Film and video production

Businesses in the following sectors are not eligible: 

  • Holding companies
  • Most professional services
  • Financial services
  • Retail, wholesale operations, distribution operations
  • Passive investments
  • Restaurants
  • Business, consultation and personal services
  • Real estate
  • Gas stations