The amazing Yukon Territory is the smallest territory among the three Canadian federal territories and located in the northwestern part of the country. Sporadically populated, and home to approximately just 35,000 people, Whitehorse is its territorial capital and the territory’s only city.
Investment Opportunities in Yukon Canada
But do not allow its size to confuse you. It’s a haven for the seekers of investment opportunities. Yes, you read it right! The government runs a very popular investment programme, called the Provincial Nominee Programme for Entrepreneurs, tailor-made for the enterprising overseas investors. What’s more: the territory has numerous useful and first-rate transportation links to other provinces of the nation and elsewhere in the North American continent.
Yukon PNP Business Nominee Programme
Coming back to the programme in question, it functions under a highly useful and mutually beneficial arrangement with the Canadian Administration. It enables the Yukon Administration to provide the cherished nomination, for the object of immigration to the nation, to those individuals who have established business skills, and who are desirous to stay in the said Canadian territory. And, who are keen to possess and control a venture/mission, and make a momentous contribution to the society.
To put it differently, the widely popular category proffers nomination to the experienced people with sharp business skills with an enthusiasm either to start a new venture or acquire an existing one, and make a significant contribution towards the region’s development.
The territory seeks to attract people with pretty remarkable entrepreneurial talents, who can uplift the local business community and simultaneously expand and spread its thriving economy further. It is essential that the aspirants, keen to use the investment programme, participate in the day-to-day business activities.
If the territory finds the applicant suitable, the Immigration, Refugees and Citizenship Canada (IRCC) issues a two year Work Permit to him. The same will enable the candidate and his business to flourish in the area, and once the stipulated time period gets over, the eligible applicant will be given Permanent Residency (PR).
Yukon Business Provincial Nominee Programme (YBNP) for Entrepreneurs–Eligibility Requirements
- On the nominee assessment grid, the applicant must score at least 65 points that includes minimum 10 points for language ability.
- Possess either of the two:-
Level 6 in the International English Language Testing System (IELTS), or
Level 4 in the Test d’Evaluation De Francais (TEF)
- Be armed with at least three years of experience as a business management expert or entrepreneur,
- Be armed with at least five years of experience relevant to the proposed business venture.
- The applicant must possess a net worth of at least 500,000 Canadian Dollars duly verified by the territory’s accounting firm.
- Have a minimum asset of not less than 300,000 Canadian Dollars as liquid assets such as bonds, cash derivatives, etc., suitably verified by the territory’s accounting firm.
- The applicant must be able to give enough proof that the net worth and liquid assets have been acquired through legal means.
- He must exhibit a rather strong desire to live in Yukon on a permanent basis while energetically running a business there in.
The applicant requires submitting a business plan once he has met the basic eligibility criteria on his proposed venture. The plan must clearly indicate detailed outline as to how he will establish/manage or run a business venture in any one of the sectors mentioned on the Strategic Sector List. Further, the applicant must be financially strong and must possess not less than 300,000 Canadian Dollars to invest in the venture. A minimum of 33.33 % (one third) ownership is mandatory. Additionally, the applicant must be eager to participate in the regular business activities.
Strategic Sectors List — Yukon Business Nomination Programme
Only some specific business sectors listed here are eligible to apply under the YBNP. If an applicant wants to open a business not mentioned on the list then it is not possible for him to do so. Now the eligible sectors! Manufacturing, forestry, Energy, Information Technology (IT), Film and Video Production, Value Added Processing, Cultural Industries, Mining, and Agriculture.