The Yukon Business Nominee Program (YBNP) offers a pathway for foreign entrepreneurs and business owners to establish or acquire and operate a business in the Yukon Territory. This program, managed by the Yukon Government, acts as a provincial nomination that supports your application for permanent residence in Canada through the Federal Government.
YBNP Eligibility Requirements
Applying to the Yukon Business Nominee Program? Here’s a breakdown of the key requirements you need to meet:
Work Experience:
- Minimum of 5 years relevant experience, including 3 years in business ownership or management.
- Additional points awarded for exceeding 7 years of experience.
Financial Requirements
- Minimum personal net worth of $500,000 CAD, with at least $300,000 CAD in liquid assets.
- Legal source of funds demonstrated through an assessment by a Yukon accounting firm.
- Additional points awarded for exceeding a $750,000 CAD net worth.
Investment
- Minimum investment of $300,000 CAD in the Yukon business within 2 years.
- Detailed business proposal outlining the investment plan required.
- Additional points awarded for exceeding a $400,000 CAD
Education
- Minimum requirement: High school diploma equivalent to Canadian standards.
- Higher education may be required depending on the business type.
- Additional points awarded for Bachelor’s, Master’s, or Ph.D. degrees.
Language Proficiency
- Minimum of CLB 6 in IELTS or Level 4 on TEF.
Ownership
- 100% ownership or 33.3% ownership with Canadian or Permanent Resident partners.
Business Management Role
- Position in the business requiring NOC skill level 0 (management) or A (professional with university degree).
Points Grid
- Minimum score of 65 points
- Points awarded for various factors like investment, experience, education, language, and business location.
Business Type
- Business must fall within approved sectors like value-added processing, agriculture, forestry, energy, and more.
Yukon Business Nominee Program: Step-by-Step Guide
Thinking of starting your business in Yukon through the YBNP? This guide outlines the key stages involved:
Stage 1: Eligibility & Application
Research & Preparation
- Verify you meet the eligibility criteria, including the minimum 65-point score.
- Visit Yukon (optional) to gain insights and network.
Apply
- Complete the YBNP application with accurate and current information.
- Submit your application in person or by mail as specified.
Document Submission
- Eligible applicants enter a pool.
- Selected applicants submit documents verifying their application details.
- Required documents include application forms, reference letter, language test certificate, business evaluation (if applicable), financial documents, and representative consent form (if needed).
- Interview
- Successful candidates attend an in-person interview.
- Upon approval, they receive a Letter of Support.
Stage 2: Work Permit & Permanent Residency
- Work Permit
- Use the Letter of Support to apply for a two-year work permit allowing you to establish or purchase your business in Yukon.
Post-Landing
- Operate your business as per the Performance Agreement.
- Upon fulfilling requirements, receive a nomination for permanent residency from the Yukon Government.
- Year One Requirements:
- Initial meeting with the Economic Development department.
- Sign a YBNP business agreement.
- Submit various business and personal documents quarterly.
- Year Two Requirements:
- Ensure your business is operational.
- Submit Year-end financial statements and other required documents.
Final Approval for Permanent Residency Support
- Fulfill all requirements during the two-year work period to receive YBNP support.
- Upon meeting conditions, receive a Letter of Final Approval and become a nominee.
Applying for Permanent Residency
- Submit your permanent residency application within three months of receiving the Final Approval.
- Provide supporting documents demonstrating your residency, business operations, and tax compliance.
Work Permit Extension (Optional)
- Request a one-year extension to your initial work permit (subject to approval).
Application fees vary depending on the program, ranging from CAD $3,500 to $500. Additional fees may apply for documents like Educational Credential Assessments.
Each program has specific eligibility criteria, but some common requirements include:
- Valid language proficiency in English or French (Canadian Language Benchmark scores).
- Education equivalent to a Canadian high school diploma.
- Proof of sufficient financial resources to support yourself and any dependents.
- Some programs require work experience, business plans, or community support letters.
AAIP offers several streams tailored to different situations:
- Alberta Opportunity Stream: For skilled workers currently employed in Alberta or international graduates from approved Alberta institutions.
- Alberta Express Entry Stream: Integrates with the federal Express Entry system for skilled workers with high Comprehensive Ranking System (CRS) scores.
- Rural Renewal Stream: For individuals with job offers in designated rural communities.
- Farm Stream: For those interested in establishing or purchasing a farm business in Alberta.
- Graduate Entrepreneur Stream: For international graduates seeking to establish or operate a business in Alberta.
- Foreign Graduate Entrepreneur Stream: Similar to the Graduate Entrepreneur Stream, but for foreign-educated graduates with start-up business plans.
Yes, most individuals require a visa to immigrate to Canada permanently. Depending on your circumstances, you may need a Temporary Resident Visa or apply directly for permanent residency through an immigration program. The Alberta Advantage Immigration Program (AAIP) offers various streams targeting specific skills, business aspirations, or educational backgrounds.
Newfoundland and Labrador offers various settlement services to help newcomers integrate into their communities. These can include housing assistance, language training, employment support, and cultural orientation programs. Designated settlement service providers throughout the province can connect newcomers with relevant resources and guidance.
Processing times can vary significantly depending on the chosen program and individual circumstances. Some programs like the International Graduate Category offer faster processing within 25 business days, while others like the International Entrepreneur Category may take longer due to document verification requirements.
Most immigration programs require proficiency in either English or French, typically demonstrated through standardized tests like IELTS or TEF. Specific minimum Canadian Language Benchmark (CLB) scores may vary depending on the program.
Several programs require a full-time job offer from an eligible employer within Newfoundland and Labrador, such as the Newfoundland and Labrador Express Entry Skilled Worker and Skilled Worker Category. However, programs like the International Graduate Entrepreneur Category don’t necessitate a job offer but require establishing or managing a business in the province.
There are various immigration programs available, tailored to different skills, qualifications, and work experience. Some popular options include the Newfoundland and Labrador Express Entry Skilled Worker, Skilled Worker Category, International Graduate Category, and International Entrepreneur Category. Visit the Newfoundland and Labrador immigration website for detailed information on each program and eligibility requirements.
You can find more information about the YNP on the website of the Yukon government: https://yukon.ca/en/doing-business/yukon-nominee-program
There are several fees associated with applying for the YNP, including:
- Application fee: $550
- Right of Permanent Residence Fee: $495
- Biometric fee: $85 (if applicable)
The processing time for the YNP varies depending on the stream you apply under. However, it is generally around 12-14 weeks from nomination to receiving an Invitation to Apply (ITA) for permanent residence.
There are five different YNP streams:
- Yukon Express Entry (YEE): This stream is for skilled workers who have a high CRS score and a valid job offer from a Yukon employer.
- Skilled Worker: This stream is for skilled workers who have a job offer from a Yukon employer and meet the requirements of one of Canada’s three economic immigration programs.
- Critical Impact Worker: This stream is for semi-skilled or unskilled workers who have a job offer from a Yukon employer in an occupation that is in high demand in the territory.
- Business Nominee: This stream is for individuals with proven business experience who wish to start a new business, partner with an existing business, or purchase and operate an existing business in Yukon.
- Yukon Community Pilot: This pilot project is currently closed, but it allowed individuals who were nominated by the territory to get a special work permit that lets them work for multiple employers in one of the participating Yukon communities.
To be eligible for the YNP, you must meet the following criteria:
- Have a valid job offer from a Yukon employer for a full-time, permanent position.
- Meet the minimum requirements of one of Canada’s three economic immigration programs: Federal Skilled Worker, Federal Skilled Trades, or Canadian Experience Class.
- Have an active Express Entry profile with a valid Comprehensive Ranking System (CRS) score.
- Demonstrate sufficient funds to support yourself and your dependents in Canada.
- Intend to live and work in Yukon after obtaining permanent residence.