This program is for foreign entrepreneurs and business owners to run their business in Yukon and eventually get permanent residence status.
How to apply?
The applicant will need to submit an application to join the YBNP pool of eligible applicants. Once accepted into the pool, and the applicant is selected from the pool, they will be invited to submit their full business proposal and all required documentation. Once the applicant was found to be meeting all the requirements of the YBNP, they will be invited to a mandatory interview in Yukon, and after a successful interview, they will be given a letter of support for a work permit that they will need to submit to IRCC for obtaining a temporary work permit. The applicant has to use the temporary work permit to run the business in Yukon and establish it along with the family. After successfully running the business for two years and meeting the requirement of the YBNP, they can request for nomination. YBNP will issue them a nomination and will give them instructions on how to apply for permanent residence to IRCC.
|Pass score||Minimum 65 points on the assessment grid, including a minimum of 10 on language ability.|
|Language||Minimum CLB 7 in English OR NCLC 4 in French.|
|Experience||Minimum of 3 years of business ownership or business management experience AND must have 5 years of business-related work experience.|
|Job Offer||You must maintain a position NOC 0 or A level position in your business.|
|Education||Minimum of high-school education unless your business requires even higher education, then you must present proof of higher education.|
|Others||Net worth: At least $500,000 obtained through legal means. |
Investment: Must invest at least $300,000 in the business in the first 2 years of starting the business. Your ownership share must be at least 1/3 of the business if you have Canadian or permanent resident partners.
Business Start: You should have NOT started business at the time of the application; however, you can buy an existing business after your application was accepted.
Business Nature: Must have active income (passive income is not allowed) and should be in the following strategic sectors: Information technology, Manufacturing, Value-added processing, Forestry, Tourism products, attractions, services and facilities, Energy, Mining or mineral development, Agriculture, Cultural industries, Film, and video production. Ineligible businesses include any type of Passive investments, Retail, wholesale operations, distribution operations, Restaurants, Financial Services, Business, consultation and personal services, most professional services, Real estate, Holding companies, Gas stations.
LINKS AND RESOURCES:
https://yukon.ca/en/foreign-entrepreneur-eligibility-run-business-in-yukon (Accessed in Sep 2021).