Yukon Business Nominee Program (YBNP)
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.
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.
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:
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.
|Investment value||Maximum 12 points|
|Liquid assets||Maximum 8 points|
|Personal Net Worth||Maximum 8 points|
|Age||Maximum 10 points|
|Prior Visit||Maximum 8 points|
|Education and Training||Maximum 20 points|
|Entrepreneurial/Business Management Experience||Maximum 10 points|
|Work Experience||Maximum 10 points|
|Language Ability||Maximum 12 points|
|Location of Proposed Business||Maximum 5 points|
|Total||Maximum 103 points|
|Pass mark:||65 Points|
Points in this section are awarded based on the amount of investment planned in the business.
|Investment Value ($CAD)||Points|
|Less than $300,000||Ineligible|
|$300,000 - $400,000||6|
|$401,000 - $750,000||8|
Liquid Assets points are awarded based on proof of cash, demand deposits with a bank or financial institution, short-term deposits and readily marketable investments including publicly traded stocks or bonds.
|Liquid Assets ($CAD)||Points|
|Less than $300,000||Ineligible|
|$300,000 - $450,000||6|
Personal Net Worth
Personal Net Worth points are awarded based on the documented proof of assets less liabilities.
|Net Worth ($CAD)||Points|
|Less than $500,000||Ineligible|
|$500,000 - $750,000||6|
Points are awarded for age according to the date indicated on the applicant’s passport.
Points are awarded based on documented proof that the applicant has travelled to Yukon prior to the submission of an application.
|Less than 3 days||0|
Education and Training
Education points are awarded based on the documented proof of completed education and training programs.
|Years of Education||Education||Points|
|12||Completed secondary school||10|
|12-13||Completed Post-secondary Program of 1 year||12|
Completed Post-secondary Program of 2 years
|18+||Masters or Doctorate||20|
Entrepreneurial/Business Management Experience
Points are awarded based on documented proof of entrepreneurial or business management 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).
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.
|IELTS 7/TEF 5 and above||12|
|IELTS 6/TEF 4||8|
|Lower than IELTS 6/TEF 4||0|
Location of Proposed Business
Points are awarded based on the location of the proposed business.
|In Whitehorse and surrounding areas||0|
|In rural communities||5|
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
- Value-added processing
- Tourism Products, Attractions, Services and Facilities
- Mining/mineral development
- 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
- Business, consultation and personal services
- Real estate
- Gas stations