The popular and the extensively used Yukon Business Nominee Programme (YBNP)of Canada allows the territory’s administration to proffer nomination to those lucky candidates who possess the experience and the capability to launch a firm/venture, acquire partnership in a firm/venture or buy an existing firm/venture, in the territory. Though the scheme does not happen to be an investment plan, the candidates have to contribute funds, to confirm the feasibility of the firm/venture.
There is a need of proof of the investment even as it may be shown in many manners. Those who are keen in making a passive investment must use the Canadian Investor Scheme run at the federal stage. Coming back to the YBNP, It is mandatory that the firm/venture boosts the manufacture and promotion of products, exports, services, technology or study in the priority segments duly accepted under the scheme.
As mentioned before, the scheme targets the people having established business know-how looking to possess and run a firm/venture in the territory and make a major contribution to the society. The territoryis interested in those with entrepreneurial expertise who can actively take part in the territory’s business society and assist increase and spread its economy. It is compulsory that the aspirants are ready to have a vigorous administrative responsibility in the Yukon firm/venture.
In case a person gets sanction under the scheme, he becomes a nominee even as he will get backing for a Two Year Work Permit provided by the Immigration, Refugees and Citizenship Canada (IRCC) to set up self, their family and their firm/venture in the territory.
When the two-year time-frame comes to an end, those who fulfill every eligibility condition will be given support by the territory in their petition to the IRCC for Permanent Residence (PR).
It is mandatory that the firm/venture belong to entitled fields, and could be any of these, namely either startups or bought. In every situation, it is compulsory that the nominee runs the firm/venture even while no passive investments are permitted.
Lately, the process and requirements for the programme have been revised. So check the latest relevant source of information!
What Happens with Petitions for Yukon Business Nominee Programme?
The petitions that meet the conditions (technically) are put in a pool from which the possible applicants are chosen. A person’s petition is not kept for more than a period of six months.
Only the aspirants picked up from the pool will be asked to present certificates/papers, to authenticate the details/facts given in the original petition. And in case the review of the documentation is found to be pretty satisfactory, the applicant will be sent an invite for an in-person interview in the territory.
In case the concerned officials are content with the suitability and the business proposal of the aspirant, post the interview, he will be given sanction for participation in the YBNP. As mentioned before, the candidate will also be proffered support for getting a Work Permit from the Maple Leaf Country, to start his new firm/mission in the Canadian territory.
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