Visas for startups: how to open your own business abroad (part 1)

How to create a business almost “out of nothing” and become the master of your own life? Answer: create a startup. Today, many countries offer super-beneficial conditions for entrepreneurs to start their business. For example, in Chile, you don’t even need to look for start-up money yourself - if you have a good idea, it is issued by the government. And in the UK and Canada, special funds operate, ready to finance a start-up company.

Startups are beneficial to host countries, as such companies generate a significant number of jobs. Up to 20 thousand people immigrate to Europe every year for startup founders. Given that these companies are most often founded by two persons, it can be assumed that approximately 10 thousand new firms are opened in the EU every year. On average, a company owned by a foreigner creates four jobs in its first year of existence. Consequently, collectively, startups are the source of approximately 40 thousand jobs in Europe per year.

Let's see what immigration conditions exist for startup founders in different countries.

Australia

Australia is one of the first countries to introduce startup visas back in the 1970s. For those who already have their own business and for those who plan to open their own business in the country, there is a “temporary visa in the field of business innovation and investment” ( Business Innovation and Investment (Provisional) visa ). For startups, a subclass of this visa called Business Innovation stream is applied.

To obtain this visa, you need to get an investment of $ 800 thousand Australian dollars to open a business. The source of funding can be any. The applicant must own at least 30% of the business with a turnover of more than 400 thousand Australian dollars or 51% if the turnover is less than 400 thousand. You must also pass the test for experience and business skills (Points test) and score at least 65 points. A visa is issued for a year.

To stay in Australia for further residence, you need to increase capital to 500 thousand Australian dollars within 3–5 years, and turnover to 300 thousand. In addition, two jobs must be created. And more is not necessary: ​​as Amazon founder Jeff Bezos said, “if you cannot feed a team with two pizzas, then there are too many people.”

Great Britain

In the UK, entrepreneurs are granted a Tier 1 (Entrepreneur) visa for three years subject to the following conditions:

- Obtaining an investment of more than £ 50,000 from qualified British investors. These include British venture capital funds listed on the Financial Service Authority (FSA), entrepreneurial competitions approved by the UK Trade and Investment Promotion Department (UKTI), and even the state itself. If the source of funding is different, you need to get four times as much money - at least 200 thousand pounds. In both the first and second cases, these funds are invested in your business.

- Proficiency in English at level B1 according to the CEFR (Common European Framework of Reference). To meet this requirement, it is enough to obtain an IELTS 4.0 certificate.

- The availability of funds to support themselves and their families. For example, a family of three at the entrance to the country must have at least £ 4,800 in the account: 2,400 for the main applicant, 1,600 for the spouse and 800 for the child.

The visa can be extended for another two years if two new jobs are created for citizens or residents of the UK. To obtain permanent residence in the country , you need to create 10 new jobs or increase the business turnover to at least 5 million pounds.

Hong Kong

Those who like Asia more than Europe should pay attention to Hong Kong. It is the freest economy in the world, the largest financial center of the region and one of the best places in the world for doing business.

An Entry for Investment visa is issued in Hong Kong to those who open a business that benefits the local economy. The spouse and minor children of the applicant can also live with this visa. You need to have a business plan, enough funds for a startup, as well as to cover the costs associated with the business for the first 3-6 months. Other requirements are the absence of a criminal record, the presence of an education (at least an incomplete higher education), professional skills and suitable premises for doing business. Duration - 1 year with the possibility of extension. The size of the investment is not determined. After seven years of living in Hong Kong, you can apply for a residence permit (Right of Abode).

Ireland

To get a startup visa in Ireland ( Startup Entrepreneur program ), you need to meet several criteria.

A minimum of 75 thousand euros should be invested in the company. If the company has two founders, this amount should be doubled. The source of money can be both their own savings, and investments of a venture fund or a grant from the Irish State Agency. The business must comply with HPSU (High Potential Start-Up) standards, and the applicant must prove that their product is truly innovative. A company cannot be older than six years old and should be led by experienced entrepreneurs. During the first 3-4 years of the company’s existence in the country, 10 new jobs should be created and a turnover of 1 million euros should be achieved. Furthermore, the applicant should not have a criminal record.

A visa is issued for two years with the possibility of extension for another three years. After five years in the country, you can apply for permanent residence in Ireland . There are no requirements for creating jobs and the size of goods turnover.

Italy

Since June 24, 2014, a program has been launched to attract entrepreneurs to Italy. A start-up visa ( Italy Start-up Visa ) is issued with a work permit, residence in Italy and income of more than 8,400 euros per person.

The budget for a startup is at least 50 thousand euros, any source. The commission will consider the resume and the innovative project, after which the applicant will receive consent or refusal to enter the country within 30 days. If a novice businessman has already found interested investors in Italy who will support his project, then Italy Start-up Visa will be issued automatically. Upon arrival in the country with this visa, a foreigner will also be able to obtain a residence permit for “independent startup work” (“per lavoro autonomo startup”).

Canada

Canada has Startup-Visa for young professionals. Foreigners who arrived in the country on this visa will be able to obtain a residence permit with the right to work in a short time. The main requirement for participation in the new program is to receive investments from one of the Canadian venture funds (amount - from 200 thousand Canadian dollars), from business angels (from 75 thousand Canadian dollars) or from a business incubator (the amount is not determined). A high level of English proficiency and a higher education are also required. A visa is issued indefinitely.

To be continued.