Director residency requirements have issuers looking to Yukon
The Globe and Mail published an interesting article last week discussing the "jurisdiction-shopping" occurring among issuers looking to avoid director residency requirements. The article specifically considered the case of a mining company looking to reincorporate in Yukon so as to avoid the CBCA's requirement that at least 25% of the directors of a corporation be resident Canadians. According to Stikeman Elliott partner Jay Kellerman, who was quoted in the article, such jurisdiction-shopping is increasingly prevalent among mining companies.
