This specific program allows the Yukon government to nominate applicants who possess the skills and experience to either start a business, become a partner in a business setup, or acquire a running business in the Yukon region. Although this is not a program that is categorized under the label of ‘investment’, applicants are still required to show their financial contribution to ensure the viability of the business. This can be done in a number of ways, for example, interested individuals can look into the various investment programs that are offered at the federal level. The business should demonstrate the use of investment by increase in production and/or marketing of goods and services, R&D, other expansion in the sectors that are recognized under this program.
Applicants (foreign nationals) should meet the following requirements for eligibility under the Yukon Business Program:
- The applicant should have 5 years of senior management experience or direct entrepreneurial experience in a business similar to the business that is proposed.
- The applicant is required to submit a resume, financial documents, recommendation letters, etc. that will serve as proof of his/her experience. Applicant need to be aware of the fact that their work experience as a manager or any other designation does not show the ability and skill to run and operate your own business.
- The applicant is required to have a minimum net worth of at least $250,000 CAD, which includes liquid assets of at least $150,000 CAD. Liquid assets are assets such as cash, demand deposits, term deposits, tax shelters convertible to cash and publicly traded stocks and bonds;
- The applicant is required to visit the Yukon at least once and should be able to demonstrate an understanding of Yukon’s business environment. During this visit, the applicant should meet an officer of the Nominee Program.
- The applicant needs to ensure that he or she has good communication skills in either English or French in order to properly run a business in the Yukon region.
- The applicant must plan to take active participation in the day to day management and operation of the business;
- The applicants are required to make an equity investment in the business in the amount of at least $150,000 CAD, which must purchase a minimum of 33.33 percent of the entire business.
- Those applicants will be given higher priority who plan to set up or be involved in one of the following industries:
- Mining/Mineral Development
- Cultural Industries
- Film and Video Production
- Information Technology
- Value-added Processing
- Tourism Products, Attractions, Services and Facilities
Businesses in the following industries are not eligible under the Yukon Business Program:
- Business and Personal Services
- Most professional practices
- Real Estate Rental
- Passive Investments
- Retail, wholesale operations and distribution operations
- Financial Services