Yukon Business Nominee Program
The Yukon Business Nominee Program is run by the Yukon Department of Education, Advanced Education Branch (Advanced Education). And is run in partnership with Immigration, Refugees, and Citizenship Canada (IRCC) under the ‘Agreement for Canada-Yukon on Immigration. This program aims to attract and retain skilled international entrepreneurs. So that Yukon can add innovation and diversity to its economy.
If accepted under this program then you will become a candidate for nomination support. After that you can:
- Start your own business; or
- Buy an existing business; or
- Partner with an existing business.
Note – In all the above cases you must run the business in Yukon.
Terms for applicants applying to Yukon Business Nominee Program
To apply, meet the following terms:
- Firstly, must have a minimum score of 65 as per the points assessment grid.
- Must have completed minimum high school education. But you must have a higher education level in case your business requires it. Also, submit proof of the same.
- You must have a minimum of 3 years of entrepreneurial or business management experience.
- Also, you must have a minimum of 5 years of relevant work experience.
- You can not be a refugee. And cannot have an active request for refugee status with the Canada govt.
- Canada govt must have not refused your immigration.
- Other than the Yukon Business Nominee Program, you cannot have any other application in provincial or territorial nominee programs.
- Secondly, to apply to this program, you must have a minimum net worth of $500,000 CAD. And you must give proof of this net worth being legal. Also, it needs to be verified by a Yukon accounting firm.
- You need to have a minimum of $300,000 liquid assets (cash, bonds, cash derivatives etc.). And you must give proof of this net worth being legal. Also, it needs to be verified by a Yukon accounting firm.
- Besides, you must prove that you intend to permanently settle in Canada.
- You must agree to settle in Yukon with dependants (if applicable). And you must do so while actively managing and investing in your business. Also if your business falls under NOC 0 or A, then you must hold a position in your business.
- You must not have started or purchased your business.
- And you must prove how you plan to spend a minimum capital investment of $300,000, in your business in the first 2 years.
Terms for the proposed business
To qualify in this program, your proposed business must meet the following terms:
- Firstly, you must have full ownership or a minimum of the one-third partnership (between 3 partners). And each must make a minimum investment of $300,000. Also, if the partnership is broken then the remaining partners must reorganise with a new agreement to keep the nomination status.
- You must actively run your business in Yukon. The program will not consider you having a headquarters in the province.
- And your business must be legal, follow all rules and regulations, and should have a scope of success in the province.
- If you are fully/partially buying an existing business then it must be owned by a Canadian or a permanent resident. Also, this business must be running in the province for a minimum of 1 year before you apply to the Yukon Business Nominee Program.
- Secondly, your application must be for a business in one of the following strategic sectors like:
- Information Technology
- Value-added Processing
- Tourism Products, Attractions, Services and Facilities
- Mining/Mineral Development
- Cultural Industries
- Film and Video Production
- Also, your application must not be for one of these ineligible sectors and activities such as:
- Passive Investments
- Wholesale operations, distribution operations
- Financial Services
- Consultation Services
- Real Estate
- Holding Companies
- And your business cannot be home-based. Your place of business must be separate from your residence.
- Also, you cannot buy a business whose owner is a current or previous Yukon Business Nominee Program applicant or nominee within the past 5 years.
- Furthermore, YBNP may consider the above-mentioned business. If the business offers diversity, innovation, job creation or benefits the economy of Yukon.
When can Yukon Business Nominee Program cancel your application?
It can refuse your application if:
- Firstly, you or your proposed business do not meet the terms of the program; or
- During the application process, you are guilty of fraud or misrepresentation of documents.
Also, during the application process, they can revoke or withdraw support for a work permit if:
- If you (nominee or candidate) do not meet the terms of the program.
- Have given false information during or after the application process.
- IRCC has denied your work permit or permanent residence application.
- You did not attend mandatory meetings with the program officials.
- If you did not arrive in Yukon as per the program deadline for doing so.
- You fail to apply for permanent residence as per the deadline given.
- Or fail to meet the terms of Business Agreement with Advanced Education.
Points Assessment Grid
To qualify you must score a minimum of 65 points in the points assessment grid. The following are the factors which are used to assess your score:
|Investment Value (CAD)||Score|
|$300,000 – $400,000||6|
|$401,000 – $750,000||8|
|More than $750,000||12|
|Personal Net Worth (CAD)||Score|
|500 – 750||6|
|More than 750||8|
|21 – 49||10|
|50 – 51||8|
|52 – 53||6|
|54 – 55||4|
|More than 56 years of age||0|
|Liquid Assets (CAD)||Score|
|$300,000 – $450,000||6|
|More than $451,000||8|
|3 – 6||4|
|7 – 10||6|
|More than 11 days||8|
|Language Skill Level||Score|
IELTS – 4
CELPIP – 4
TEF – 3
|IELTS – 4-6
CELPIP – 4-7
TEF – 3-4
|IELTS – More than 7
CELPIP – More than 8
TEF – More than 5
|5 – 7 years||8|
|More than 8 years||10|
|Post-secondary minimum 1-year education||12|
|Post-secondary minimum 2-years education||16|
|Masters or PhD||20|
|Location of Business||Score|
|In Whitehorse & surrounding areas||0|
|In rural communities||5|