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Startup Visa and residency: Here’s top 5 Countries that Offer the Startup Visa program to Foreign Entrepreneurs
From brimming Canada, to Australia, Netherlands and other European capitals, we’ve listed 5 countries where you can apply to the Startup Visa, relocate, and build a thriving business for your future.
BY S. Atari
The relationship between migrant entrepreneurs and the economic development of countries is increasingly mixed, as several governments are now adopting strategies to entice the migrants’ entrepreneurial innovations. According to a study conducted by researchers in Research Gate, 204 firms were established by immigrants, between US enterprises listed in Fortune 500 listed in 2010 and after, result in the revenue of $4.2 trillion in total and employing more than 10 million people globally.
The Startup Visa program is a conditional entrance and live permit provided by few countries to invite innovative, young and fresh mind entrepreneurs who made a first prototype and could raise funding or are on the lookout for a permanent stay afterward. A number of developed countries apply the startup visa and some immigration rules, to which foreign founders of promising business can commit, to execute their businesses under a better environment.
Since migrant and refugee entrepreneurs often and most likely face legal and cultural obstacles to establish and maintain their businesses, leveraging the startup visa could be a great opportunity for their budding business. So we’ve compiled a list of top five countries that offer the startup visa and are interested to attract high skilled migrant entrepreneurs to improve their knowledge, support their innovations and address some human real problems.
To apply for the entrepreneur visa, you need to set up or run a business in the Denmark. You can apply if you’re from outside the European Economic Area (EEA) and Switzerland. Requirements include knowledge of English, access to have investment capital, a valid passport, and a business plan. The earliest you can apply is 3 months before you travel. The visa will last for 3 years and 4 months’ maximum. However, if you completed 5 years in the Denmark, you can apply for settlement known as ‘indefinite leave to remain’.
The Startup-Denmark visa requires to get your business idea approved by a panel of experts appointed by the Danish Business Authority and you must play an active part in running the business. It needs have to provide documentation that proves you have sufficient funds to cover your first year in Denmark. In a form of a bank statement, you need to at least prove that you have DKK if you are in Denmark without any family members.
Requirements for the Entrepreneur Work Visa include passport, Entrepreneur visa, and proof of English language knowledge. You need to provide a detailed business plan, and have a minimum capital investment.
The Investors and Entrepreneur visa offers 3 types of visas, including: 2 types of Business Innovation and Investment and Business Talent visa. Each one of them requires a different size of capital, proof of knowledge of English and a business plan.
Requirements for obtaining a residence permit as a self-employed include showing that you have significant experience in your field and previous experience of running your own business. Having documented and relevant knowledge in Finish or English is also a condition. Furthermore, you have to show that the business’ services or goods are sold or produced in Sweden, and that you have sufficient funds to support.
To be eligible for the startup visa program in Canada, you have to have a qualifying business, and you have to get a letter of support from a designated organization, such as investors. You have to meet the language requirement, and give proof that you have sufficient amount of money to support yourself.
The Estonian startup visa that enables non-EU nationals to come and work for the country’s startups. The Estonian Startup Visa program is launched in the beginning of 2017 for non-EU startup founders who wish to come and be a part of one of the smallest but liveliest startup communities in Europe as a founder.