Yukon is among Canada’s smallest territories, yet it has witnessed a fast-growing economy thanks to untapped world-class critical mineral and precious metal deposits. The provincial government has implemented many business-friendly policies that helped accelerate economic growth by attracting foreign entrepreneurs to set up regional businesses.
Investing in Yukon presents several compelling opportunities across various sectors. Here are some reasons why investing in Yukon can be attractive:
Yukon possesses a wealth of natural resources, with valuable minerals such as gold, silver, copper, zinc, lead, and others plentiful in the region. The mining industry in Yukon presents lucrative opportunities for investment in exploration, development, and production.
The Yukon government is committed to environmentally and economically sustainable mining and has started multiple programmes to support the industry. The Yukon Gateway Project is the most significant infrastructure announcement for the territorial government and the industry.
Yukon boasts plentiful resources for renewable energy production, including hydroelectric power, wind, and solar energy. Investing in renewable energy projects in the region can harness Yukon’s clean energy potential and promote sustainable development.
The clean and vast wilderness, breathtaking landscapes, and rich cultural heritage of Yukon attract many tourists, making it a sought-after destination. Enhancing tourism infrastructure, accommodation options, adventure tourism, and cultural experiences can maximize Yukon’s potential in the tourism industry.
Yukon is actively involved in innovation and technology to stimulate economic diversification and growth. Supporting technology startups, research and development initiatives, and innovation hubs can nurture entrepreneurship and pave the way to new economic possibilities within the province.
The Yukon government actively encourages investment. Programs like the Yukon Business Investment Tax Credit and the Yukon Mineral Exploration Program offer incentives to investors.
With its abundant natural resources, growing economy, and skilled workforce, Yukon offers several promising investment opportunities. Let’s explore some key areas:
The provincial government has made substantial investments to bolster infrastructure supporting the mining industry. Key elements include:
The provincial government has been working on regulatory certainty, using its customized tri-party process to create a clear framework for companies and investors.
Yukon’s pristine wilderness, breathtaking landscapes, and cultural diversity make it an attractive tourist destination. Investment opportunities in the tourism sector include:
Here are some important facts about the business sector in Yukon:
The Yukon Business Nominee Program (YBNP) seeks creative entrepreneurs with established entrepreneurial and business acumen. These individuals will manage their own enterprises, thereby contributing to the growth of the northern territory’s economy. Prospective applicants for the YBNP must have a genuine interest in owning and running a business in Yukon.
The provincial government will issue eligible candidates a nomination they can use to apply for permanent residence through the Federal Government.
The objective of the Yukon Start-Up Visa program is to allow innovative foreign entrepreneurs to create new jobs and contribute to the province’s economy.
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Here are some frequently asked questions about the Yukon Startup Visa:
A designated organization can be a Canadian venture capital fund, an Angel investor group, or a business incubator program. It is essential to contact them to learn how to get their support.
The individual must present their business concept and persuade them to provide a Letter of Support. The approach and requirements for presenting to these designated organizations differ. If you can convince them with your presentation, they will furnish you with a Letter of Support.
The designated organizations first review your business proposal. If approved, they will issue a Letter of Support. Afterward, you must submit your application to Canada’s federal government authority—Immigration, Refugees, and Citizenship Canada (IRCC). Reviewing your application will take approximately a few months to a year, and then IRCC will decide on it.
The designated organizations (angel investors, venture capital funds, and business incubators) in Yukon dedicated to entrepreneurship offer their members various forms of support, such as mentorship, networking opportunities, access to funding, and development resources for businesses. Entrepreneurs could also take advantage of the start-up culture in the province.
For more information on the Yukon Startup Visa Program, please contact our immigration experts.
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