Startups offer a huge economic boost, and many nations across the globe realize this. Through startup visa programs, governments provide fast-track residence and citizenship. What exactly is a startup visa? These programs (also known as entrepreneur visas) are designed for those who have outstanding creative ideas and business drives. Starting a business in another nation is a smart idea since there are many possibilities for foreign entrepreneurs to acquire nonimmigrant visas by investing in an existing firm or starting a new one.
The number of nations is remarkable, and the number of startup visas accessible is always increasing. For startup visa programs, each nation has its unique set of criteria. Because of these variations, each startup founder must analyze their personal circumstances in order to choose the most suitable nation for their company. To make things simpler, we combed through all of the available entrepreneur visa programs and selected the top 15 nations offering startup visa programs across the globe.
Canada
For qualified business founders, the Canada Startup Visa program provides permanent residence. This program is one of the most entrepreneur-friendly visa options accessible anywhere in the globe. The most important aspect of this program is initially obtaining assistance for your business from a recognized organization.
To be eligible for the Canada Startup Visa, you must meet the following requirements:
- The applicant’s company must be creative, have the potential to generate employment for Canadians, and be able to compete on a global scale. • The business owners may be up to five individuals, but each must hold at least 10% of the voting shares. Furthermore, the owners must collectively own more than 50% of the voting rights.
- Applicants must be able to speak in English, French, or both, as shown by evidence from Citizenship and Immigration Canada.
- Applicants must have adequate money to support any people coming to Canada with them. Keep in mind that no money may be borrowed.
- The applicant must have a $200,000 CAD investment from an authorized venture fund or a $75,000 investment from a recognized angel group. If the company is accepted into a listed incubator/accelerator program, there is no need to fulfill the financial criteria.
Australia
Australia offers a program called the Australia Business Innovation Visa that seeks to encourage international entrepreneurs and investors who want to establish, expand, or relocate their companies to Australia.
To be eligible for the Australia Business Innovation Visa, the applicant must be recommended and asked to apply by an Australian organization.
- The candidate should have previous business success and experience.
- The applicant must have at least $400,000 AUD in net assets and third-party financing arrangements worth at least AUD $200,000.
- The applicant must have at least $1.5 million AUD in a net company and personal assets moved to Australia within two years of receiving the visa.
- The applicant must have at least $3 million AUD in revenue in at least two of the four business years prior to being asked to apply for the visa.
New Zealand
The New Zealand Entrepreneur Visa program assists entrepreneurs in establishing or purchasing a company in New Zealand by providing a 12-month work visa during the startup stage. Startup entrepreneurs may apply for residence under the Entrepreneur Residence Category via this program.
- The New Zealand government must approve this company in order to qualify for the New Zealand Entrepreneur Visa. There is a point system in place, with a minimum of 120 points needed. Points are awarded based on a company’s potential for success and the value it adds to New Zealand.
- The applicant must have a NZ$100,000 minimum capital investment (this does not include working capital).
- The applicant must provide a business plan outlining a company concept and the following stages.
- The applicant’s record must be free of bankruptcy, company failure, or fraud.
- The candidate must have a good reputation, be in excellent health, and be fluent in English.
Singapore
Singapore’s EntrePass visa scheme is intended to capture and keep wealth inside the nation. The program is designed for foreigners who want to start a business in Singapore. It provides two years of residence with the possibility of applying for permanent residency when the visa expires.
To be eligible for the Singapore EntrePass Visa, the applicant must be sponsored by a Singapore-based business via a bond of at least $3,000 SGD, which is returned after the visa expires.
- The candidate must have previous entrepreneurship experience.
- There should be a strategy in place to have a minimum paid-up capital of $50,000 SGD.
- A 10-page business plan must be submitted by the applicant.
- Proposed business concepts must be capable of creating local employment, and the entrepreneur must intend to maintain at least 30 percent ownership in the company, encouraging personal engagement in development and value creation rather than hasty exits.
- Companies may only be pre-incorporated or incorporated for a maximum of 6 months after incorporation. If the business has not yet been established, it must be within 30 days after visa approval and issuance.
Chile
Chile offers many initiatives, and they go well beyond the visa in terms of creative concepts. There is government financing available, as well as business incubator assistance. Start-Up Chile is one of the options for obtaining a startup visa. Chile grants a 12-month work visa to qualified candidates via this program within 15 days of application, which is one of the quickest approval timeframes available.
To be eligible for the Chile Startup Visa, you must meet the following requirements:
- The candidate must be the owner, employee, partner, or investor in a Chilean technology business.
- The applicant must have a letter of invitation or a sponsorship certificate from InvestChile, Start-Up Chile, or the Undersecretariat of Economy.
Ireland
For entrepreneurs, Ireland has two options: the Immigrant Investor Programme and the Startup Entrepreneur Programme. Both have somewhat greater capital needs than comparable programs in other countries, but they offer distinct advantages of establishing a company in Ireland, such as a low corporate tax rate and a variety of tax incentives.
The Ireland Startup Entrepreneur Program assists entrepreneurs in obtaining licenses to reside in Ireland through establishing businesses. The candidates are given residence for two years with the possibility of renewing for three years. This visa is also available to immediate family members.
- The applicant must have an innovative company concept that can generate a minimum of 10 jobs in Ireland and achieve at least €1 million in revenue within 3-4 years to qualify for the Ireland Startup Entrepreneur Visa.
- The headquarters of the startup must be located in Ireland.
- If the application is already located in Ireland, the startup must be less than 5 years old.
- For a capital requirement, the company should be funded with €50,000 for one founder and €30,000 for each successive founder.
The United Kingdom
With an established startup network, an easy formation procedure, and a low corporation tax rate, the United Kingdom remains an excellent location for entrepreneurs.
What exactly is the UK Startup Visa?
The UK Startup Visa (formerly known as a Tier-1 Entrepreneur visa) is an entry-level alternative for entrepreneurs who want to start a new company in the UK without a large initial financial commitment. This visa is valid for three years and four months and may be extended for another two years.
To be eligible for the UK Startup Visa, candidates must meet the following requirements: • The visas are granted on a points-based basis, and successful applicants must get a total of 95/95 points.
- Proof of £50,000 – £200,000 available for investment is required.
- The applicant must have sufficient money to sustain the stay. They must also have this amount for at least three months.
- A letter of recommendation from one of the universities mentioned should be included.
- The candidate must have a strong command of the English language.
- A criminal record certificate must be submitted by the applicant.
- If the applicant is on the Home Office’s list, they must provide a TB test result letter.
Estonia
Estonia has the greatest per capita number of startups in the European Union. The government provides the unique e-Residency program, which enables companies to be headquartered and operated in the nation even if the owners do not reside there.
The Estonia Startup Visa is a program designed to assist non-EU entrepreneurs and startup workers in launching and growing an Estonian business. The ordinary founder visa is a one-year renewable visa that includes a working visa and residence for the founder’s spouse.
- The applicant must have at least €130 for each month intended to be spent in Estonia to qualify for the Estonia Startup Visa.
- The application must be approved by the Startup Committee.
- The applicant’s business concept should be creative and scalable, with worldwide potential.
- The applicant must provide proof of obtaining lodging for the duration of the stay as well as proof of intent to depart (i.e., a departing plane ticket).
- A valid insurance policy for Estonia or the Schengen region with at least €30,000 coverage is required.
Italy
This is one of Europe’s most generous start-up visa programs, the Italy Startup Visa. Any company seeking R&D financing in Italy should pay close attention to this report. The Italian Startup Visa program may be applied for either directly or via one of Italy’s incubators. A one-year self-employment visa with a two-year extension option is awarded to those who pass the test.
To be eligible for an Italy Startup Visa, you must meet the following requirements:
Startup Visa Technical Committee clearance is required when the applicant submits a list of supporting papers online.
- The applicant must put in at least €50,000 of his or her own money to the company.
To be eligible, the business must be under five years old and have under €5 million in yearly revenue. In the past, no profits should have been distributed.
More than a third of the team must have PhDs or two-thirds must have master’s degrees, and the company must already have some intellectual property. The company does not have to be based in Italy, but at least a headquarters in Italy and some tax contributions are required. The company does not have to be based in Italy.
France
French Tech Visa and French Tech Ticket are two distinct visa schemes offered by the French government for tech companies.
Founders, workers, and investors in digital startups may apply for a French Tech Visa, which provides a four-year work permit and the opportunity to extend it. The visa may be extended to members of the applicant’s immediate family.
The founder must be chosen by one or more French Tech Visa partner incubators or accelerators via the normal selection procedure in order to qualify for the French Tech Visa.
- A minimum of €17,763.20 per year should be set up as capital.
- France should have a strategy for creating a new economic innovation startup.
- The Directed must give founders their blessing (a French public organization).
Entrepreneurs who wish to establish their own tech company in France may do so using the French Tech Ticket program, which does not need a long-term commitment or sponsoring organization. This is more of a 6-month startup acceleration program. Visas may be extended for an extra six months under this scheme.
An innovative company concept is required for the French Tech Ticket Visa application to be approved.
A year’s worth of living expenses (about €18,000) must be available to the applicant.
A French incubator or accelerator must be partnered with by the start-up.
At the very least, the company should have two founders. Although it is not a necessity, only one of them will be a French citizen.
In an unusual requirement, candidates must be proficient in English and have a startup as their main focus and job source for the duration of the 12-month visa.
Netherlands
Holland provides a visa for entrepreneurs called the Netherlands Entrepreneur Visa (NEV). Recipients of the program will be connected with Startup Delta, which is a collaboration between the Dutch government, accelerators, and investment firms. This initiative gives entrepreneurs a one-year window in which to establish a cutting-edge Dutch business, with the option of an additional year.
To be eligible for a Netherlands Entrepreneur Visa, you must have a new and creative business concept.
The applicant must be able to demonstrate that he or she has at least €13,000 in savings to cover his or her living expenses.
The applicant-approved facilitator, mentor, accelerator, or incubator will be supervised by the dependable Netherlands. It is essential that the facilitator has prior experience mentoring startups, is financially independent, has a substantial interest in the business, or has receivables, or is related to the entrepreneur in some way.
Denmark
Due to the country’s strong support for entrepreneurs, such as angel investors, incubators, the Danish Growth Fund, and help from Start-up Denmark, Denmark is quickly becoming a popular place to start a company. The Startup Visa for Denmark is one of the most appealing visa alternatives for European entrepreneurs. Since sponsorship is not required, it is especially well-liked. In other words, it’s aimed at self-employed individuals outside of the EU who have tech-driven, innovative, and scalable companies.
Denmark’s Startup Visa provides high-potential companies with a two-year residence and work permit, with the option of numerous three-year extensions.
To be eligible for a Denmark Startup Visa, you must be actively involved in the company’s operations, be able to demonstrate your business concept, product, and personal skills, and have a detailed business plan, pitch deck, or product presentation on hand.
Candidates must be fluent in English before being considered for this position.
- A Start-up Denmark panel must accept the applicant’s business concept.
It is necessary for the application to be assessed by the Danish Agency for International Recruitment and Integration. It is also necessary for the applicant to be self-sufficient, with savings ranging from 137,076 DKK to 319,236 DKK depending on co-dependents.
Portugal
Historically, Portugal has been at the forefront of luring immigrants to the country by offering attractive incentives for investment. Portugal’s “On the Spot Firm” centers make it simple to conduct business there. Within an hour, a new company or a branch of a foreign firm may be established at one of these facilities.
Applicants for the Startup Visa must meet the following requirements:
- The start-up should have a strong emphasis on technology.
- The start-up should be able to demonstrate a yearly revenue potential of €325,000.
Spain
The Startup Visa for Spain is a straightforward visa to acquire, with a short processing time. This initiative aims to provide talented and experienced workers and investors from outside the EU a chance to immigrate. Candidates that are selected for residence will be housed for a period of one year.
The applicant must routinely reside in Spain in order to be eligible for the Spain Startup Visa.
In order to validate the objectives of the company plan, an applicant must submit a favorable report from the Commercial Office.
- The applicant must provide evidence of bank accounts with sufficient funds to cover his living expenses.
Lithuania
It is unique among visas in that founders do not have to meet financial or employment metric requirements in order to be granted a visa. Startup founders are granted a one-year residence and are allowed to bring their families along with them.
The company must work in biotech, nanotech, information technology, mechatronics, electronics, or laser technologies to qualify for the Lithuania Startup Visa.
- To be considered, the candidate must complete an online application that includes information about the team, past experiences, and the company itself. They will then be interviewed online.
- A panel of specialists must approve the application.
They’ll need to get a letter from their local immigration office saying that their company concept qualifies for the program.
Conclusion
Expansion of horizons may be precisely what you need to promote your business concept to the globe if you have a new and unique idea. Governments all around the globe are vying for the attention of multinational businesses. This blog is meant to assist you in determining which nation you need a visa from in order to establish your business.
