This stream targets people who have business skills that are good enough to run own business and contribute to the economy of the province as well. Yukon looks forward to welcoming people who have shown exceptional skills as an entrepreneur, who are ready to take up a managerial position, and who can further help in adding to the diversity of its overall economy.
If an individual gets an approval, he/she become a nominee, and therefore a recipient of a work permit, that could last two years, issued by the IRCC. Through this work permit, the nominee will get an opportunity to get themselves, their family, as well as their business established in the province. When the two-year period comes to an end, every applicant who meets the eligibility criteria will find the support of the territory in the application they submit for PR, to the IRCC.
In order to gain eligibility under this program, applicants must cater to the following requirements:
- They should achieve at least 65 points, in addition to minimum 10 points scored for their language ability, on the Nominee Assessment Grid.
- They should either score at least a Level 6 in IELTS, or a Level 4 in TEF, for English and French, respectively.
- Their total experience in business management or as an entrepreneur should not be less than three years.
- Their relevant working experience in the field same as their proposed business, should not be less than five years.
- They will need to demonstrate a net worth of at least 500,000 CAD, and get it verified by a decent accounting firm in the province.
- At least 300,000 CAD will be needed in the form of liquid assets, i.e. bonds, cash, cash derivatives, and so on - and this too will be verified by one of the accounting firms in Yukon.
- A proof will be needed, saying that all the assets demonstrated in the application have been attained by the applicant through legal means only.
- They should have at least a third of the total ownership in the company.
- They will have to submit their resettlement plan, showing their clear intention of residing, and further settling permanently in the province by actively operating a business there.
- They should have an education at least up to high school level; and it should be more, as per the requirements of their business.
- They should not have a refugee status with the Canadian government, and the country should never have been denied entry or immigration.
- They should not have any active process of application going on in any other provincial nominee program.
- At the time of application, the applicant should not have bought or been operating any business in the region.
- In the first couple of years, the applicant will have to demonstrate that they’d invest no less than 300,000 CAD for the business, in the form of capital investments, which won’t include any such investment made before the applicant’s acceptance into the program.
- Capital investments would include purchasing equipment or property, and not include buying a house, or vehicles which are only going to be used partially for the business, or any expenses incurred against maintenance.
Conditions for a business to be eligible under this stream:
- The business must be a new one, or it should have been in operation inn Yukon before being purchased.
- It should be managed by the applicant.
- This should not be a passive investment on the part of the applicant.
The business should not belong to any of the below mentioned strategic sectors:
- Information technology
- Value-added processing
- Tourism products, attractions, as well as other facilities and services
- Cultural industries
- Mining or mineral development
- Film and video production
The business should not belong to any of the below mentioned ineligible sectors and activities:
- Retail, distribution operations, wholesale operations
- Passive investments
- Financial services
- Most professional services
- Holding companies
- Business, consultation and personal services
- Gas stations
- Real estate