YNP Business Nominee (YBNP)

The Yukon Business Nominee Program (YBNP) targets individuals with proven business skills who wish to own and operate a business in Yukon and make a significant contribution to the community.

Yukon is looking for people with business skills who can join Yukon’s business community and help expand and diversify the territory’s economy. Candidates must be prepared to take an active management role in the Yukon business.

If a candidate is approved by the programme, they become a nominee and receive support for a 2-yearWork Permitissued byImmigration, Refugees and Citizenship Canada (IRCC). This Work Permit gives the nominee the opportunity to establish themselves, their family and their business in Yukon.

At the end of the 2-year period, those who meet all the eligibility requirements receive the territory’s support in submitting an Application for Permanent Residence (APR) to IRCC.

Detailed article onYukon Nominee Program (YNP).

Minimum requirements

Minimum requirements for candidates

To be eligible for the Yukon Business Nominee Program, candidates must:

• Score at least 65 points on the Nominee Assessment Grid (including a minimum of 10 points for language ability);
• Achieve at least one of the two levels:
  • IELTS General Training: Level 6
  • TEF: Level 4
• Have at least 3 years of business ownership or business management experience;
• Have at least 5 years of experience relevant to the proposed business venture;
• Have a minimum net worth of CA$500,000, verified by a Yukon accounting firm;
• Have at least CA$300,000 in liquid assets (cash, bonds, cash derivatives and so on), verified by a Yukon accounting firm;
• Provide evidence that the declared net worth and liquid assets were obtained by lawful means;
• Submit a Settlement Plan setting out their intention to establish residence in Yukon; and
• Intend to settle permanently in Yukon and to operate a business in the territory actively.

The business plan

The business plan is submitted after the candidate has received preliminary approval of their eligibility and proposed venture. The plan must include a detailed outline of how the candidate will establish a successful business venture in one of the industries listed in the Strategic Sectors List (see below). Candidates must demonstrate a minimum investment of CA$300,000 in the business with a minimum ownership stake of 33.33% (one third). In addition, candidates must demonstrate active and continuous management of the business.

Additional requirements for the first year in Yukon as a nominee

On arrival in the territory, the nominee must attend a compulsory meeting with a YBNP representative. If there is any delay, the nominee must inform the YBNP office immediately. In addition, the nominee’s residence and business start-up process must begin at once. All legal documents supporting this activity must be provided to the YBNP, and documents evidencing business activity are required throughout the year. All nominees must meet a YBNP officer or undergo an on-site inspection (of the business or the residence) each quarter.

Additional requirements for the second year in Yukon as a nominee

Nominees are expected to have their business operating and all family members residing year-round in Yukon in their second year in the territory. During this second year, the nominee must provide all documents in support of their Application for Permanent Residence.

These documents include:

• Year-end financial statements (Notice to Reader),
• Rent receipts or mortgage statements for the personal residence,
• Personal utility receipts,
• Business rent receipts or mortgage payments,
• Business utility receipts,
• A list of the business’s suppliers and customers,
• Other documents as required by the YBNP.

Finally, all nominees must undergo one last on-site inspection (at their home or place of business).

Final approval to support permanent residence

Nominees must complete the required conditions during the two-year period of operation in order to receive YBNP support in submitting an Application for Permanent Residence to IRCC. Once a nominee receives the final approval letter, they must apply for permanent residence to IRCC within three months. Nominees are responsible for ensuring they hold a valid Work Permit until they receive permanent resident status from IRCC.

Individuals must provide evidence of the following to be considered for nomination to IRCC:

• That they are residing in Yukon;
• That their Yukon business is operating;
• That they have met the investment requirements; and
• That they have met the meeting requirements.

The points grid system

Using the Nominee Assessment Grid, candidates are scored against seven selection factors: Business Resources, Personal Net Worth, Age, Previous Visit, Education and Training, Work Experience, and Language Ability.

To be eligible, candidates must score at least 56 points, including a minimum of 10 points in the Language Ability section.

Selection factor

Selection factor	Maximum points
Value of the investment	Up to 12 points
Liquid assets	Up to 8 points
Personal net worth	Up to 8 points
Age	Up to 10 points
Previous visit	Up to 8 points
Education and Training	Up to 20 points
Business ownership/business management experience	Up to 10 points
Work experience	Up to 10 points
Language ability	Up to 12 points
Location of the proposed business	Up to 5 points
Total	Up to 103 points
Pass mark:	65 points

Business resources

Points in this section are awarded on the basis of the amount to be invested in the business.

Value of the investment (CAD)	Points
Under 300,000	Not eligible
300,000 – 400,000	6
401,000 – 750,000	8
Over 751,000	12

Liquid assets

Points for liquid assets are awarded on the basis of evidence of cash, demand deposits with a bank or financial institution, short-term deposits and readily saleable investments including publicly traded shares or bonds.

Liquid assets (CAD)	Points
Under 300,000	Not eligible
300,000 – 450,000	6
Over 451,000	8

Personal net worth

Points for personal net worth are awarded on the basis of documentary evidence of assets less liabilities.

Net worth (CAD)	Points
Under 500,000	Not eligible
500,000 – 750,000	6
Over 751,000	8

Age

Points are awarded on the basis of age as shown by the date in the candidate’s passport.

Age	Points
21-49	10
50-51	8
52-53	6
54-55	4
Over 56	0

Previous visit

Points are awarded on the basis of documentary evidence that the candidate visited Yukon before applying.

Length of visit	Points
Under 3 days	0
3-6 days	4
7-10 days	6
Over 11 days	8

Education and Training

Education points are awarded on the basis of documentary evidence of education and training programmes completed.

Years of study	Education	Points
12	Completion of secondary school	10
12-13	Completion of a 1-year post-secondary programme	12
14-16	Completion of a 2-year post-secondary programme	16
17-18	Bachelor’s degree	18
Over 18	Master’s or doctoral degree	20

Business ownership/business management experience

Points are awarded on the basis of documentary evidence of business ownership or business management experience.

Years	Points
3-5	8
Over 6	10

Work experience

Points in the work experience category are awarded on the basis of documentary evidence of experience relevant to the proposed business (unless already demonstrated in the documents provided to show business management or ownership experience).

Years	Points
5-7	8
Over 8	10

Language ability

Points are awarded for language ability on the basis of documentary evidence of training and ability in English or French. The only form of documentary evidence accepted is an original certificate from the IELTS General Training programme for English or the TEF for French.

Level	Points
IELTS 7/TEF 5 or above	12
IELTS 6/TEF 4	8
Below IELTS 6/TEF 4	0

Location of the proposed business

Points are awarded on the basis of the location of the proposed business.

Location	Points
In Whitehorse and the surrounding area	0
In rural communities	5

The Strategic Sectors List

Only businesses in one of the sectors identified in this list are eligible under the YBNP. If a sector does not appear on this list, a nominee cannot open or invest in a business in that sector in order to meet the eligibility requirements.

Eligible strategic sectors include:

• Information technology
• Manufacturing
• Value-added processing
• Forestry
• Tourism products, attractions, services and facilities
• Energy
• Mining/mineral development
• Agriculture
• Cultural industries
• Film and video production

Businesses in the following sectors are not eligible:

• Holding companies
• Most professional services
• Financial services
• Retail, wholesale and distribution operations
• Passive investment
• Restaurants
• Business, consulting and personal services
• Real estate
• Petrol stations