About the program
The Yukon requires individuals with a proven business and entrepreneurial ability to run their own businesses to support the economy of the northern region.
The Yukon Nominee program seeks to “attract and retain qualified foreign entrepreneurs to add diversity and creativity to the Yukon market.” It is easy to imagine how a region of about 40,000 inhabitants would actively seek exciting new ventures to boost the economy and therefore if you have a strong business idea and assets
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 have 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 of 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 operations 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.
Step 1 – Paper application with self-declaration
The first step is to submit an initial application form that effectively serves as an expression of interest in the Yukon Business Nominee program. Applicants who submit this form are placed in a pool for six months, and Yukon immigration authorities periodically select applicants and invite them to submit a full application and attend an interview.
Step 2 – Submission of verification documents and formal business plan
The application form contains a self-assessment grid. Applicants must score at least 65 points on the grid in order to be considered. While no documents are required with the initial application form, all information must be truthful as, if an applicant is invited to apply, he or she will be required to submit supporting documents to verify the self-assessment.
Step 3 – Selection pool
If invited to submit a full application, applicants are required to develop and include a full business plan in addition to various documents to support the information provided in the initial application. Full details can be found in the program policy.
Step 4 – In-person interview in Yukon
Successful applicants at this stage are invited to a mandatory interview in Yukon, which they must attend in-person – representatives are not allowed. Approved applicants (known as “candidates” from this stage on) receive a letter of support for a two-year work permit and can apply to IRCC for that work permit within six months. Once they arrive in Canada, they must arrive in Yukon within two weeks.
Step 5 – YBNP issues support for the 2-year work permit
Several meetings are required over the candidate’s first year in Yukon in order to ensure ongoing compliance with the business plan and program policy. This includes signing a Business Agreement, which outlines the requirements of the program that the candidate must adhere to in order to later be eligible for nomination for permanent resident status.
By the second year, candidates must have an operational business and be established in Yukon (with their family, if applicable) year-round.
Step 6 – Candidate settles in Yukon with family, starts a business and establishes into the community
If this application is successful, the applicant must then travel to the Yukon and establish themselves, their family, and their business. If the applicant successfully establishes the business and meets all of the conditions of the performance agreement, Yukon will issue them a nomination for permanent residence.
Step 7 – YBNP nominates the candidate
After receiving a nomination, the applicant has six months to submit a federal application for Canadian permanent residence. Applicants in this program must complete and submit a paper-based application for permanent residence and submit it by mail to the appropriate application center. Paper-based PNP applications for permanent residence are generally processed within 18 months.
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
Processing times for applications for Skilled Workers and Critical Impact Workers are 12 to 14 weeks.