For entrepreneurs seeking fresh opportunities, the Yukon Business Nominee Program (YBNP) provides a promising pathway to establish a business in Canada’s Yukon Territory. This program is specially designed for foreign entrepreneurs who are eager to launch their enterprises in Yukon. The guide below outlines the eligibility requirements, the application process, and what follows.
Personal Eligibility Requirements
To be considered for the YBNP, you must:
- Score at least 65 points on the assessment grid.
- Hold at least a high school diploma, providing proof of further credentials if your business requires higher education.
- Have a minimum of three years of entrepreneurial or business management experience.
- Have at least five years of work experience that is relevant to your proposed business.
- Not be a refugee or have an active request for refugee status with the Government of Canada.
- Have no immigration denials from the Government of Canada.
- Not have active applications for any other provincial or territorial nominee program.
- Possess a net worth of at least CAD $500,000, with documentation and verification by a Yukon accounting firm proving it was legally obtained.
- Possess a minimum of CAD $300,000 in liquid assets (cash, bonds, cash derivatives), also verified as legally obtained by a Yukon accounting firm.
- Intend to permanently reside in Yukon.
- Agree to reside in Yukon with dependents, if any, while managing and investing in your Yukon-based business.
- Hold a position within your business of National Occupational Classification (NOC) TEER 0 or 1.
- Not have purchased or started your business in Yukon at the time of your application.
- Demonstrate how you will invest at least CAD $300,000 in capital investments for the business within the first two years. This does not include any capital investments made before acceptance into the YBNP and does not cover purchases such as a house, vehicles used partly for the business, or operational/maintenance expenses.
Business Eligibility Requirements
Your proposed business must:
- Be a new venture or an existing Yukon business purchase.
- Be managed by you.
- Not be a passive investment.
- Operate within specific strategic sectors, including information technology, manufacturing, value-added processing, forestry, tourism, energy, mining or mineral development, agriculture, cultural industries, film, and video production.
Conversely, your proposed business must not operate within the following ineligible sectors and activities: passive investments, retail/wholesale operations, restaurants, financial services, business consultation/personal services, most professional services, real estate, holding companies, and gas stations.
There is no prerequisite to have a minimum of Canadian Language Benchmarks (CLB) Level 4 when submitting an application. This requirement comes into play only if you are accepted into the YBNP. If you provide your language score with the application, it will earn you additional points.
To compare language scores from recognized testing organizations, refer to the Immigration, Refugees and Citizenship Canada’s language test equivalency charts.
Follow the steps below to apply:
- Fill out the application form.
- If you are representing a client, complete the Use of a Representative form (IMM 5676).
- Submit the fully completed and originally signed application.
Applications can be submitted in person at 303 Alexander Street, 1st floor in Whitehorse, Yukon or via mail to:
Government of Yukon Economic Development (F-1) Box 2703 Whitehorse, Yukon Y1A 2C6
The processing period ranges from 12 to 14 weeks, depending on the volume of received applications.
Applications that meet the program’s requirements and score a minimum of 65 points enter a pool of potential candidates for six months. Only candidates chosen from the pool will be invited to submit documents verifying the information in the original application and to assess the business plan.
If you meet these requirements, you will be invited for an exploratory trip and an in-person interview in Yukon. Upon approval of your application following the interview, you will be supported in securing a 2-year work permit from the federal government, allowing you to establish your new business in Yukon.
During this time, you are expected to settle yourself, your family, and your business in Yukon. If you meet all requirements at the end of the 2-year work permit period, the local government will support your permanent residency application to the federal government.
Embarking on a new business journey in Yukon, Canada, can be an exciting venture. The YBNP program offers a structured path for foreign entrepreneurs to establish themselves and their businesses in Yukon’s dynamic economy. Follow the guidelines, meet the requirements, and prepare for an exciting business adventure in the breathtaking landscapes of Yukon.