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Yukon Business Nominee Program

Business Program Overview:

The Yukon Business Nominee Program operates under an agreement with the Government of Canada and allows the Government of Yukon to nominate for immigration to Canada those individuals with proven business skills who want to live in Yukon, and who want to own and operate a business and make a significant contribution to the community.

Yukon Business Nominee Program is not an "investment program", but participants are required to contribute money to their business to ensure its viability. For individuals who are interested in making passive investments, the Government of Canada offers an immigrant investor program. For more information please refer to http://www.cic.gc.ca/.

Yukon is seeking people with entrepreneurial skills who can participate in Yukon’s business community and help expand and diversify our economy. Yukon will be of particular interest to those persons who savour the outdoors and want to be part of the future development of the territory.

Click here for information on the Skilled Worker / Critical Impact Worker Program

Application Process
Eligibility
Business Requirements
Priority Business Sectors
Citizenship and Immigration Requirements
Language Requirements
Disclaimer
The Process and Time Frame
Forms

Eligibility:

Yukon is seeking people with at least five years business experience who can start a new business, partner with an existing business, or purchase and operate an existing business in order to enhance the production and marketing of goods, services, exports, technology or research in the priority sectors.

Eligibility is restricted to applicants who:

  • Have a minimum of five (5) years of senior management or direct entrepreneurial experience in a business similar to the one proposed. The immigrant entrepreneur will be required to submit a resume or CV (curriculum vitae), letters of recommendation, financial statements and other documents to support his/her experience.(Working as a manager or an employee in a corporation does not necessarily provide skills to own and operate your own business.)
  • Have a minimum net worth of CDN$250,000, including minimum liquid assets of CDN$150,000. Liquid assets include, for example: cash, demand deposits with a financial institution, term deposits, tax shelters convertible to cash, and readily marketable investments including publicly traded stocks and bonds.
  • Have visited Yukon at least once, and, as a consequence, have an understanding of Yukon’s business and social environment. Business applicants must meet with one of the program’s officers in the Business and Industry Development Branch during this visit.
  • Can demonstrate reasonable communication skills in one of Canada’s official languages in order to operate a business in Yukon.

Business Requirements:

To be nominated, an individual must plan to be actively involved in the management and operation of the business. There is a requirement for equity investment in the business to ensure its viability. The minimum amount is $150,000 CDN, which must purchase a minimum of 33.33 percent of the business, but the actual amount may be higher depending upon what is actually required to successfully start and operate the business, or acquire the requisite shares in an existing business. The money may not be used as part of a home-based business and include personal assets such as, residence or other personal assets that are used in the business.

Priority will be given to immigrant entrepreneurs who intend to establish an active business or purchase all of an existing business that has supportable prospects for expansion in a sector identified by the Strategic Sector List. The applicant must also demonstrate that they will actively manage the business being purchased at an Executive level. This is differentiated from a passive investment, such as real estate or simply as a shareholder or partnership where the person is not actively involved in the operation of the business, which does not meet the requirements of the program. The establishment of a new business must also take into consideration any possible adverse impacts on existing local businesses in the identified sector or related sectors.

A business that was purchased or started by a previous business nominee within the past five years is not eligible, and after five years a minimum of 50 per cent of the business must be purchased by the nominee and abide by the minimum investment policy of $150,000, but the actual amount may be higher depending on what is actually required to acquire the requisite shares in the existing business to become a 50 per cent stakeholder.

Prior to nomination by Yukon, the business nominees will be required to provide evidence that an additional CDN$150,000 is available to either establish a new Yukon based business or purchase a minimum 33.33 percent stake in an existing Yukon business. The applicant must, in all cases, provide proof of the Executive Management position the applicant will hold within that business. (see: Evidence of Investment).

If professional credentials or licenses to practice are required to establish or operate the business in Yukon, the business nominee will be required to demonstrate, as part of the business plan, which they have met, or can reasonably be expected to meet, the conditions required for start-up.

Priority Business Sectors:

  • Information Technology
  • Manufacturing
  • Value-added Processing
  • Forestry
  • Tourism Products, Attractions, Services and Facilities
  • Energy
  • Mining/Mineral Development
  • Agriculture
  • Cultural Industries
  • Film and Video Production

Ineligible Sectors and Activities:

  • Passive Investments
  • Retail, wholesale operations and distribution operations
  • Restaurants
  • Financial Services
  • Business and Personal Services
  • Most professional practices
  • Real Estate Rental

Evidence of Investment in a new Business or Purchase of all or part of an Expanding Existing Business

Evidence of a business investment refers to an investment which is required to finance the assets and operations of a new business OR to purchase all or a minimum of 33.33 percent of the assets (and debts) of an existing business and actively manage the business at an Executive Level. Evidence of a business investment may include such elements as;

  • Start up costs and early cash flow deficiencies financed by cash, demand deposits and other liquid assets held in a business account with a recognized financial institution in Yukon such as a chartered bank, trust company, credit union or brokerage.
  • Inventories and accounts receivable associated with the business start;
  • Licences, franchises, trade names and other intangible assets necessary to; establish/operate the business and purchased from third parties, at arm's length
  • Machinery, fixtures, tools and other equipment, excluding passenger vehicles;
  • Real estate (excluding residential real estate, recreational property, unserviced land for future development or real estate to be leased primarily to third parties, whether for business or residential uses);
  • Leasehold improvements to leased business premises;
  • Notarized Certificate of Shareholders Right;
  • Notarized Letter of Appointment;
  • Notarized Amendment of Company Constitution;
  • Notarized Documents for Transfer of Shares;
  • Company Organizational Chart.

The Evidence of Investment requirement is a reference to those actions and transactions, such as those listed above, which ultimately result in the establishment or purchase of a 33.33 percent share of an existing business, as proof of the applicant’s intention, as referred to in the business plan. The Department reserves the right to conduct due diligence to ensure that there is sufficient evidence of investment.

Application Process:

  1. An applicant completes and submits the application form. Note that this includes a summary of the business plan and the business experience of the applicant, a Personal Net Worth Statement, a Business Net Worth Statement (if a business is currently owned and operated by the applicant), a complete resume, and notarized copies of the applicant, and their dependants, passport(s).
  2. A preliminary review will be conducted by a business advisory review committee.
  3. If the committee recommends further consideration, the applicant will be asked to provide the full business plan and subsequently arrange for an in-person interview with one of the program’s officers in the Business and Industry Development Branch to discuss the business plan and the applicant’s business experience. The officer will be looking for evidence that the applicant is genuinely committed to making Yukon their home, can demonstrate reasonable communication skills and that the business has a good chance of success.
  4. Further documents and information considered necessary to assess the application may also be requested. These could include documents to confirm the applicant’s net worth, verification of business or work experience, business ownership, education or details on any research conducted in the development of the business plan.
  5. If the application and business plan meets Yukon’s criteria and is approved, Yukon will recommend that the Government of Canada issue the applicant a two-year Visa to work in Yukon to implement the business operation.
  6. Applicants have up to two years to implement their business plan. Only when a business plan has been implemented, will Yukon issue a nomination certificate and send it to the appropriate Citizenship and Immigration Canada post for processing.
  7. The applicant will be contacted and required to complete and submit all of the forms and documentation Citizenship and Immigration Canada requests.

Citizenship and Immigration Requirements:

All applicants must also satisfy the requirements of Citizenship and Immigration Canada when purchasing all or part of an existing business, as described in Citizenship and Immigration Canada’s Operational Policy 7(b) "Provincial Nominee Policy":

5.3. Passive investment and immigration-linked investment
A passive investment occurs when an individual invests capital in a business or organization without being actively involved in its management. Such an investment is prohibited under the Immigration and Refugee Protection Regulations. Foreign nationals are therefore precluded from being considered members of the provincial nominee class, if the nomination was based on their provision of capital or their participation in an immigration-linked investment scheme. A foreign national may still be considered a member of the provincial nominee class if:

  • the capital provided to a business is not made primarily for the purpose of deriving interest, dividends or capital gains;
  • the foreign national controls, or will control, at least 33.33 per cent of the equity in the business, or has made a minimum of $1 million equity investment in the business;
  • the foreign national will participate actively, on an ongoing basis, in the management of the business; and
  • the terms of investment in the business do not include a redemption option.

OP 7b Provincial Nominees

As is consistent with the federal business classes, the percentage of equity controlled by both the principal applicant and their spouse or common-law partner will be considered.

Exclusions

R87(5) excludes from the provincial nominee class any applicant:

  • whose nomination was based on the provision of capital (passive investment); or
  • who intends to participate or who has participated in an immigration-linked investment scheme.

These exclusions are meant to prevent the Provincial Nominees program from undermining the Federal Immigrant Investor program.

Note: The forms required are available on Citizenship and Immigration Canada’s web site

A detailed business plan will include, but not be limited to, the following:

I - Describe your business
1. Production or service-delivery efficiencies
2. Personnel
3. Geographic location
4. Facilities
5. Own or Rent: Size (square feet/m2); Physical state of the property (i.e. modern, requires upgrades); Significant equipment

II -Market Analysis
1. Industry Description and Outlook
1.1 Description of your primary industry
1.2 Size of the industry: Historical, Current, Projected growth, Five and ten year outlook
1.3 Industry characteristics and trends: Historical, Current, Future
1.4 Major customer groups
2. Target Markets
2.1 Size of the primary target market
2.2 Market penetration (indicate the extent to which you anticipate penetrating your market, and demonstrate why you feel that level of penetration is achievable based on your market research)
2.2.1 Market share
2.2.2 Existing customers
2.2.3 Potential customers
2.3 Pricing and gross margin targets
2.4 Methods by which specific members of your target market can be identified
2.5 Media through which you can communicate with specific members of your target market
2.6 Purchasing cycle of potential customers
2.7 Key trends and anticipated changes within your primary target markets
2.8 Secondary target markets and key attributes
2.9 Market Test Results
2.10 Lead Times (time between customer order placement and product or service delivery)
2.11 Competition
2.11.1 Identification (by market segment and product line or service)
2.11.2 Their strengths (competitive advantages)
2.11.3 Their weaknesses (competitive disadvantages)
2.12 Importance of your target market to your competition
2.13 Barriers to entry into your market
2.14 Regulatory Restrictions: Customer or governmental regulatory requirements (domestic and international) including anticipated changes
2.15 Marketing and Sales Activities (describe the marketing and sales activities that will enable you to meet the forecasts outlined in your pro-forma financial statements)
2.16 Products and Services (outline the unique ability of your company's products or services to satisfy the needs of the marketplace)

III - Management and Ownership
1. Company Structure
1.1 Organizational chart
1.2 Narrative description of the chart
1.3 Key Management and Operating Personnel (present full resumes in an appendix)
1.3.1 Unique skills and experience that add to your company's distinctive competencies
1.3.2 Planned Additions to the Current Management Team
1.4 Legal Structure
1.4.1 Owners/Names/Percentage of Ownership/Form of Ownership/
Outstanding Equity Equivalents/Options/Warrants/Convertible Debt/Board of Directors (Names, Positions, Extend of Involvement with the Company)

IV -Long-Range Financial Strategies (i.e., liquidating investors' positions)
1.1 Going public
1.2 Leveraged buyout
1.3 Acquisition by another company
1.4 Debt service levels and timing
1.5 Liquidation of the venture

V - Funds Required and Their Use
1.1 Current Funding Requirements
1.2 Funding Requirements Over the Next Five Years
1.3 Use of Funds

VI -Financial Data
1.1 Historical Financial Data (past three to five years, if applicable)
1.2 Use of external accounting firms
1.3 Prospective Financial Data (next five years)

VII - Appendices and Exhibits
1.1 Resumes of Key Managers
1.2 Professional References
1.3 Market Studies
1.4 Pertinent Published Information (i.e., on your products or services)
1.5 Magazine articles
1.6 Book references
1.7 Patents

Note: A useful business plan template that conforms to Yukon’s requirements is available at http://www.bdc.ca/.

Agents:

The Yukon Business Nominee Program is administered by the Government of Yukon’s Department of Economic Development. The department does not use agents or representatives in the delivery or administration of the program.  Applicants may use the services of a qualified agent or consultant in the preparation of applications but all dealings and transactions must be between the applicant and the Department of Economic Development. If an applicant chooses to use a representative, that representative must either be a member "in good standing" of the Canadian Society of Immigration Consultants (CSIC) and registered in Yukon or a lawyer that is a member "in good standing" of the Canadian Law Society. If a representative is not a member of either of these societies or has not had the appropriate form signed, no information regarding an applicant can be relayed to anyone other than the applicant. For more information please refer to http://www.cic.gc.ca/.

Language Requirements:

As per Citizenship and Immigration Canada’s new language requirements for immigrants (refer to http://www.cic.gc.ca/) all applicants must provide an International English Language Testing System (IELTS) Certificate to prove proficiency in English at a Level 6, or for French, a minimum Level 4 on the Test d'évaluation de français (TEF) Certificate or a Level 7 on the Niveaux de compétence linguistique canadiens (NCLC) Certificate.

Disclaimer:

The Government of Yukon advises each applicant as follows:

  • Each application is considered on its own merits.
  • Interpretation of this program and its contents must come directly from the Department of Economic Development’s Business and Industry Development Branch whose contact information is found below.
  • Do not accept any assurances from another person about any aspect of this program.
  • The criteria for this program are routinely evaluated and may be subject to change at any given time.
  • This program operates under an agreement with the Government of Canada and it is up to applicants to abide by all of the rules and regulations of Citizenship and Immigration Canada. For more information please refer to http://www.cic.gc.ca/
  • Applicants are encouraged to contact officials at Citizenship and Immigration Canada to discover the most up-to-date information on its policies and procedures.

Information at this site is provided as a public service by the Government of Yukon. We cannot guarantee that all information is current or accurate. Users should verify the information before acting on it. Information is provided strictly "as is" and without warranty of any kind, either expressed or implied. The information may be used on the strict understanding that the territory, its ministers, employees, or agents shall not be liable to any persons for any loss or damage of any nature, whether arising out of negligence or otherwise, which may be occasioned as a result of the use of information provided at any other site that can be accessed from this site. Proceeding beyond this disclaimer constitutes acceptance of these terms and conditions. Access to the Yukon Business Nominee Program is at the sole discretion of the Department of Economic Development’s, Business and Industry Development Branch.

To obtain additional copies of this Application Kit or other information, please visit our website at http://www.economicdevelopment.gov.yk.ca/general/ynp.html, or contact a department employee at immigration@gov.yk.ca, or by mail at the address below.

The Process and Time Frame

Step One: Review the information on the Yukon government website. If you meet the criteria, have made the necessary visit to Yukon, and had an interview with Department of Economic Development officials or you plan to do so, please submit an application.

Step Two: The application is reviewed to ensure that it meets basic criteria. The initial review may take up to one week.

Step Three:  If the application is approved, Economic Development requests that the applicant provide detailed supporting documentation and submit a detailed business plan following a standard business plan format.  Information on how to prepare a business plan may be found on the Internet or in bookstores. The Canada Yukon Business Service Centre is also an excellent resource on preparing business plans.

The length of time to prepare a business plan is determined by the applicant.

Step Four: When the business plan and supporting documentation are received, they are reviewed by Economic Development officials. If the department approves the detailed business plan and supporting documentation, and if you have already visited Yukon and had your interview, the Yukon government will recommend that the Government of Canada issue a two-year temporary residence visa to the applicant. The applicant will complete the Government of Canada application for a temporary resident visa.  Detailed information is available on the Citizenship and Immigration Canada website.

It will take from two to four weeks for Economic Development officials to review the business plan and supporting documentation.  The length of time for the Government of Canada to process an application for the temporary residence visa varies from two to twelve months depending upon which embassy is processing the information. For more information, contact the Canadian Embassy that processes your visa application.

Step Five: When you arrive in Yukon, you have up to two years to develop your business as described in your business plan. A representative of the Yukon government will meet with you from time to time. If you are making substantial progress developing your business, even before completion of two years, the Yukon government will issue a nominee certificate to the Government of Canada to start the process leading to permanent resident status. Again, the length of time varies and the embassy can provide information on the processing time.

PDF Version of The Process and Time Frame [ 57KB]

 

Forms

Contact Business Development 

Business and Industry Development Branch
Department of Economic Development

Mailing Address:
PO Box 2703 (F-2)
Whitehorse, Yukon
Y1A 2C6

Phone: (867) 393-7014 or
1-800-661-0408, local 7014

Physical Address:
Suite 401, 309 Strickland Street (Nuvo Building)
Whitehorse, Yukon

Email: businessnominee@gov.yk.ca