Business people who wish to own and operate a business in Yukon can apply for nomination from Yukon under the Yukon Business Nominee Program (YBNP). The candidates must prove that they are able to participate in the business community of Yukon and contribute to the growth of the territory’s economy. The eligible candidates must also be able to actively manage the business in Yukon on a day-to-day basis.
If the application of the candidate is accepted by Yukon, they will become a nominee and receive a support letter to apply for a two-year work permit from the Immigration, Refugees and Citizenship Canada (IRCC). With the work permit, the nominee can set up a business and settle with family in Yukon. After two years, if they are successful in meeting all the eligibility requirements, they can apply for permanent residence in Canada to IRCC.
Requirements for applicants
- Minimum score of 65 points on the Nominee Assessment Grid. This must include minimum score of 10 points for language ability
- Minimum three years of experience as an entrepreneur or in managing the business
- Minimum five years of experience related to the proposed business venture
- Minimum net worth of $500,000 CAD, which must be verified by a Yukon accounting firm
- Prove that both the net worth and liquid assets have been obtained through legal means.
- A Resettlement Plan to demonstrate their intent to establish Yukon residency
After the application of a candidate receives initial approval on the basis of their eligibility and the proposed venture, they can submit the Business Plan. The Plan must explain in detail how the applicant will establish a successful business venture in Yukon in one of the industries that come under the Strategic Sector List. The candidate must invest at least $300,000 CAD and have at least 33.33 percent (one-third) ownership.
Additional Requirements For Year One
Once the candidate arrives in Yukon, it is mandatory that they meet a YBNP representative. If they are unable to do so immediately, they need to inform the YBNP office. The candidate must also start their residency and start-up process at the earliest. They need to submit all legal documents supporting such activity to the YBNP. They also need to submit documentation showing proof of business operations that are required throughout the year. It is also mandatory for the nominee to meet YBNP staff on a quarterly basis or be visited on-site by them.
Additional Requirements for Year Two
The business must be operational and all the family members of the nominee must be residing year-round in Yukon by second year. The nominees must also produce all the required documents to apply for permanent residence in Canada.
Obtaining permanent residence in Canada
If the nominee fulfills all the necessary requirements during the two-year work period, they will be supported by YBNP to apply for permanent residence in Canada. Upon receiving the letter of final approval, the candidate can apply for Canada PR to the IRCC within three months. The work permit of the candidate must remain valid until they receive permanent residence in Canada.
Nominee Assessment Grid
YBNP applicants are awarded a score based on seven selection factors– Business Resources, Personal Net Worth, Age, Prior Visit, Education and Training, Work Experience, and Language Ability. To be eligible, the candidate must score at least 65 points, which include minimum 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|
Canada Provincial Nominee Program is one of the best immigration pathways to make Canada your permanent home. Get in touch with us to explore your options to migrate to Canada through Provincial Nominee Program