YBNP : Yukon Entrepreneur Immigration Program
What is the Yukon Business Nominee Program?
The Yukon Business Nominee Program (YBNP) is an immigration program that allows qualified entrepreneurs and business owners to establish or acquire a business in Yukon, Canada. It is designed to attract individuals who can contribute to the economic growth and development of the territory.
- The YBNP offers two streams for business immigration:
1. Yukon Entrepreneur Stream:
- This stream is for individuals who want to start a new business or purchase an existing business in Yukon.
- The minimum requirements include having a minimum net worth, relevant business experience, and a viable business plan.
- Successful applicants will receive a two-year work permit to operate their business in Yukon. Upon fulfilling the terms and conditions of their Business Performance Agreement, they can apply for permanent residency in Canada.
2. Yukon Strategic Projects Stream:
- This stream is for experienced entrepreneurs who have a proposal for a business project that aligns with the economic priorities of Yukon.
- Applicants must have a significant financial investment and be able to demonstrate how their project will benefit the territory.
- Approved applicants will receive a letter of support from the Yukon government, which can be used to apply for a work permit through the federal government’s Temporary Foreign Worker Program.
YBNP Eligibility Requirements
- Age: You must be at least 21 years old.
- Net Worth: You must have a minimum net worth that is verifiable and obtained through legal means.
- Business Experience: You must have a minimum of three years of relevant business ownership or senior management experience.
- Investment: You must make a minimum investment in a new or existing Yukon business, as outlined by the program guidelines.
- Business Plan: You must develop a comprehensive business plan for your proposed or acquired business in Yukon.
- Language Proficiency: You must have a minimum language proficiency in English or French.
- Residency: You must plan to reside in Yukon and actively manage your business.
- Business Proposal: You must have a business proposal that aligns with the economic priorities of Yukon, as determined by the government.
- Financial Investment: You must demonstrate that you have the financial capacity to implement the proposed project.
- Economic Benefit: You must show how your project will bring significant economic benefits to Yukon, such as job creation, increased exports, or technology transfer.
- Business Experience: You must have a minimum of five years of relevant business ownership or senior management experience.
- Language Proficiency: You must have a minimum language proficiency in English or French.
YBNP Eligibility Requirements
The step-by-step application process for the Yukon Business Nominee Program (YBNP) may vary slightly depending on the specific stream you are applying to. However, here is a general overview of the application process:
Review the eligibility requirements for the YBNP and ensure that you meet the criteria for the stream you wish to apply to.
Gather all the necessary documentation to support your application, which may include personal identification, education certificates, language test results, proof of business ownership or management experience, financial statements, business plans, and other relevant documents.
If applying under the Yukon Entrepreneur Stream, you must submit an Expression of Interest indicating your intention to apply. The EOI is typically submitted online through the YBNP portal and requires you to provide information about your background, business plan, and other details.
If your EOI is selected, you will receive an Invitation to Apply from the Yukon government. This invitation will provide instructions on how to proceed with your application.
Fill out the required application forms accurately and provide all the necessary information as requested. This may include personal details, business details, financial information, and other supporting documents.
Pay the application fees as outlined by the YBNP. The fees are typically non-refundable and cover the processing costs of your application.
Compile all the completed forms, supporting documents, and application fees into a comprehensive application package. Submit the package to the Yukon Nominee Program office by the designated method (mail, courier, or online submission, depending on the instructions provided).
The YBNP office will review your application and assess its completeness and eligibility. They may request additional information or clarification if needed.
Depending on the stream and the nature of your business proposal, you may be required to undergo a business verification process or an interview to assess the viability of your business plan and your ability to contribute to the Yukon economy.
After reviewing your application, the YBNP office will make a decision on your nomination. If approved, you will receive a nomination certificate from the Yukon government.
With the nomination certificate, you can proceed to apply for Canadian permanent residence through the federal government's immigration authority, Immigration, Refugees and Citizenship Canada (IRCC). Follow the instructions provided by IRCC for submitting your permanent residence application.
As part of the permanent residence application process, you and your accompanying family members will be required to undergo medical examinations and provide police certificates to prove your admissibility to Canada.
If your permanent residence application is approved by IRCC, you will be issued a Confirmation of Permanent Residence (COPR) and can proceed with your plans to settle in Yukon and establish or manage your business.