Investment in Yukon
Yukon province in Canada, like other provinces in the country, attracts foreign immigrants through its provincial nomination programs (Yukon Nominee Program). Among the Yukon provincial nomination programs, the investment or business program (Yukon Business Nominee Program) aims to attract entrepreneurs and investors who can contribute to the business communities in Yukon and help with its economic development and diversification.
In the Yukon business program, also known as the Yukon entrepreneurship program, entrepreneurs can either start a new business or purchase an existing one.
This program is based on a points system, and after submitting an Expression of Interest (EOI), applicants’ scores are calculated based on several factors. If you achieve the required score, you’ll be eligible to apply for the Yukon entrepreneurship program. If your application is approved, you will receive a support letter from the province, allowing you to apply for a temporary work visa.
Once you arrive in Canada and meet all the conditions of the agreement with the province, you will be selected by the province and qualify to apply for permanent residency in Canada.
For more information about the Yukon business program, keep reading the article.
Investment and entrepreneurship requirements in Yukon province
Achieve a minimum score of 65 out of a total of 103 points in the Yukon entrepreneurship program (10 out of the 65 points must be related to language skills);
Obtain a minimum score of 6 in IELTS General for English or a minimum score of 4 in the TEF test for French;
Hold at least a high school diploma;
Have a minimum of 3 years of entrepreneurial or business management experience;
Have at least 5 years of experience related to the proposed business;
Have a minimum net worth of $500,000 confirmed by an accounting firm in Yukon;
Have at least $300,000 in liquid assets (such as cash, bonds, cash derivatives, etc.) confirmed by an accounting firm in Yukon;
Invest a minimum of $300,000 and own one-third of the proposed business;
Provide documents proving that the net worth and liquid assets were obtained legally;
Provide a resettlement plan that shows your intention to settle in Yukon; and
Deciding to permanently settle in Yukon and start a business in its areas.
Industries and sectors acceptable for entrepreneurship in Yukon
To be eligible for the Yukon Entrepreneur Program, your proposed business must fall under one of the following sectors and industries:
Information Technology
Manufacturing
Forestry
Value-added processes
Tourism products, attractions, services, and facilities
Energy
Mining and mineral development
Agriculture
Cultural industries
Film and video production
Industries and sectors not acceptable for entrepreneurial immigration to Yukon
Holding companies
Most professional and trade services
Financial services
Retail, wholesale, and distribution activities
Passive investments
Business, consulting, and personal services
Real estate
Gas stations
Yukon's investment scoring system
The scoring for the Yukon Entrepreneur Program is based on 10 factors, including: investment amount, cash assets, net worth, age, education, prior travel to Yukon, entrepreneurial or business management experience, relevant work history, language skills, and proposed business location.
Each of these evaluation criteria has maximum and minimum scores. If you score 65 out of a total of 103 points, you will be eligible to apply for this program.
Selection factors for the Yukon Entrepreneur Program
| Selection factor | Maximum score |
|---|---|
| Investment amount | 12 |
| Cash assets | 8 |
| Personal net worth | 8 |
| Age | 10 |
| Previous travel to Yukon | 8 |
| Education and training | 20 |
| Entrepreneurial experience or business management experience | 10 |
| Relevant work history | 10 |
| Language ability | 12 |
| Proposed business location | 5 |
| Total points | 103 |
| Minimum score for the program | 65 |
Investment amount
| Investment amount (Canadian dollars) | Score |
|---|---|
| Less than 300000 dollars | Not eligible for the program |
| 300000 to 400000 dollars | 6 |
| 401000 to 750000 dollars | 8 |
| 751000 dollars and more | 12 |
Cash assets
| Cash Assets | Points |
|---|---|
| Less than $300000 | Not eligible for the program |
| $300000 to $450000 | 6 |
| $451000 and above | 8 |
Personal Net Worth
| Personal Net Worth | Points |
|---|---|
| Less than $500000 | Not eligible for the program |
| $500000 to $750000 | 6 |
| $751000 and above | 8 |
Age
| Age | Points |
|---|---|
| 21-49 | 10 |
| 50-51 | 8 |
| 52-53 | 6 |
| 54-55 | 4 |
| 56 and older | 0 |
Previous Travel to Yukon Territory
Points in this section are calculated based on previous travel to Yukon Territory before submitting an application for the Entrepreneur Program. Documentation regarding this trip must be submitted.
| Number of days visiting the Yukon Territory | Points |
|---|---|
| Less than 3 days | 0 |
| 3 to 6 days | 4 |
| 7 to 10 days | 6 |
| 11 days and more | 8 |
Level of Education and Training
| Education | Points |
|---|---|
| Completed high school (12 years of education) | 10 |
| Completed one-year post-secondary (12 to 13 years of education) | 12 |
| Completed two-year post-secondary (14 to 16 years of education) | 16 |
| Bachelor’s degree (17 to 18 years of education) | 18 |
| Master’s or Doctorate (18 years of education and above) | 20 |
Entrepreneurship or Business Management Experience
| Number of years of entrepreneurship or business management experience | Points |
|---|---|
| 3 to 5 years | 8 |
| 6 years and more | 10 |
Related Work Experience in Proposed Yukon Business
| Related work experience | Points |
|---|---|
| 5 to 7 years | 8 |
| 8 years and more | 10 |
Language Proficiency
| Language Level | Points |
|---|---|
| General IELTS 7 or TEF 5 and above | 12 |
| General IELTS 6 or TEF 4 | 8 |
| General IELTS less than 6 or TEF less than 4 | 0 |
Proposed Business Location
| Business Location | Points |
|---|---|
| In Whitehorse and surrounding areas | 0 |
| In rural communities | 5 |
Steps to Take for Investment in Yukon Territory
To apply for the Yukon Canada Entrepreneur Program and invest in this territory, you need to correctly follow these steps, which will ultimately result in obtaining the Yukon Entrepreneur visa and permanent residency in Canada:
Step 1: Submit Expression of Interest (EOI)
The first step for the Yukon Entrepreneur Program is to register your interest in applying for this program online and answer the questions provided. Along with your EOI submission, you also need to submit your business proposal. If you meet the initial eligibility criteria and your business proposal is approved, you will enter the lottery pool.
Step 2: Receiving an Invitation to Apply (ITA)
If you earn the required points in the Yukon Entrepreneur Program lottery pool, you’ll receive an invitation. This invitation is your ticket to submit an official application for the Yukon Territory business program.
Step 3: Submitting your application to the Yukon Immigration Office and attending an interview
At this stage, you need to send the necessary program documents, including a complete business plan and net worth evaluation report, to the Yukon Immigration Office. If your application gets approved, officials will ask you to participate in an in-person interview to verify the accuracy of the documents and details you submitted in your application.
Step 4: Taking steps to get a work visa
If the interview goes well, you’ll need to sign an execution agreement with the province. In this agreement, you commit to launching and operating your intended business within a specific timeframe after entering Canada, as well as meeting the other program requirements.
After signing the execution agreement, a support letter will be issued for you. This support letter should be submitted along with the other necessary documents for applying for a temporary work permit to the Federal Immigration Office of Canada.
Step 5: Starting a business in the Yukon Territory and receiving provincial nomination
Once you receive your temporary work visa, you need to enter Canada and meet with a YBNP representative. You and your accompanying family members must settle in Yukon and get your business up and running.
While you manage your business, YBNP officials will visit your operations, and if it’s determined that you’ve complied with all the terms of the execution agreement, you will be selected by the province and receive a provincial nomination certificate.
Step 6: Obtaining permanent residency in Canada
After receiving a provincial nomination, you must prepare all the necessary documents for the Yukon Entrepreneur Residency application and, after undergoing medical tests and obtaining background checks, submit your application to the Federal Immigration Office of Canada (IRCC).
Generally, the processing time for permanent residency cases takes between one to two years, and if you meet the necessary conditions, you will be granted permanent residency in Canada.
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Frequently asked questions
What’s the minimum initial investment required for the Yukon Entrepreneur Program?
For the Yukon business program, you need to invest at least $300,000 and own at least one-third of the proposed business shares.
How much does it cost to process an application in the Yukon Entrepreneur Program?
There is no cost to process an application in the Yukon Entrepreneur Program.
Is an exploratory trip mandatory for the Yukon business program?
An exploratory trip isn’t mandatory for the Yukon Entrepreneur Program, but doing one will earn you extra points.
What documents are needed to receive a Yukon provincial nomination certificate?
Year-end financial statements
Receipt for personal housing rent or mortgage statements
Receipts for water, electricity, and gas bills
Business rent receipt or mortgage payment
Receipts for water, electricity, and gas bills for the business
List of suppliers and customers for the business
Other documents required by YBNP
How long does it take to get Canadian permanent residency through the Yukon business program?
From the time you submit all the necessary documents, it generally takes about 18 months to receive Canadian permanent residency.