The Yukon Business Nominee Program (YBNP) provides foreign business owners and entrepreneurs with a unique opportunity to establish and operate their businesses in the stunning Yukon territory while paving the way for Canadian permanent residency.
In this article, we will explore the key details of the Yukon Business Nominee Program, including the personal and business eligibility requirements that applicants must meet.
Eligibility Requirements
Points-Based Assessment: To qualify for the YBNP, candidates must achieve a minimum score of 65 points on the assessment grid. This scoring system evaluates various factors, including age, education, language proficiency, work experience, and adaptability.
Education: Applicants should possess at least a high school diploma. If their proposed business requires higher levels of education, they must provide proof of the necessary credentials.
Business Experience: Eligible candidates must have a minimum of 3 years of entrepreneurial or business management experience, demonstrating their ability to successfully operate a business.
Relevant Work Experience: Applicants should also have at least 5 years of work experience that is relevant to their proposed business, showcasing their expertise in the chosen industry.
Immigration Status: Applicants must not be refugees or have an active request for refugee status with the Government of Canada. Additionally, they should not have previously been denied immigration by the Canadian government.
No Active Applications: Candidates must not have active applications for any other provincial or territorial nominee program at the time of applying to the YBNP.
Financial Requirements: To be eligible, applicants must have a net worth of at least CAD $500,000, obtained through legal means and verified by a Yukon accounting firm. Additionally, they should possess a minimum of CAD $300,000 in liquid assets, also verified by a Yukon accounting firm.
Intent to Reside in Yukon: Eligible candidates must intend to permanently reside in the Yukon territory and commit to living in Yukon with their dependents while managing and investing in their business.
Occupation within Business: Applicants must hold a position within their business that falls under National Occupational Classification (NOC) codes TEER 0 or 1.
Business Status: Candidates should not have already purchased or started their business in the Yukon at the time of application. They must also demonstrate their commitment to invest at least CAD $300,000 in capital investments for the business within the first 2 years.
Business Sector: The proposed business should belong to one of the strategic sectors, including Information technology, Manufacturing, Value-added processing, Forestry, Tourism, Energy, Mining, Agriculture, Cultural industry, or Film and video production.
Ineligible Sectors: Businesses in sectors such as Passive investments, Retail/Wholesale operations, Restaurants, Financial services, Consultation services, Real estate, Holding companies, and Gas stations are ineligible for the YBNP.
The Yukon Business Nominee Program offers a promising pathway to Canadian permanent residency for foreign business owners and entrepreneurs. With its stringent yet reasonable eligibility criteria, the program seeks to attract individuals who can contribute to the economic growth and development of the Yukon territory. By meeting the personal and business requirements outlined in this article, aspiring entrepreneurs can embark on their journey to becoming Canadian permanent residents while enjoying the unique opportunities and natural beauty that Yukon has to offer.
To learn more about the program’s eligibility and application process, prospective applicants are encouraged to refer to the official Yukon Business Nominee Program policy, or you can also contact us and we can guide you through the process.
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