If you are loaded with unique business ideas and looking for a place to execute them for a simple fee and an easy application process, then we have a list of European countries for you. Many countries in Europe have been inviting foreign entrepreneurs to apply for residence permits and citizenships in exchange for implementing and developing innovative business start-ups in their country. The start-up visa program has become a crucial part of Europe’s efforts to emerge as a bright star of the start-up visa universe.
How Start-up Visa Helps Entrepreneurs Kick-start their New Life Abroad
For entrepreneurs with a scalable business plan and a positive approach, starting up a new enterprise in Europe can be a life-changing decision. Establishing a new business in Europe not only gives you an access to a wider range of markets, but also helps you learn about new culture and people. In many ways, this can be an added advantage to your new business.
There are so many pathways designed for ambitious entrepreneurs who want to establish their own business in Europe. Here are just a few reasons why it’s worth applying for a start-up visa program, and the countries you can consider to start your new venture.
Why Start-up Visa Program?
Many countries have various investor visa pathways, which are the first step towards gaining citizenship in a particular country. These investment schemes are popularly known as ‘Golden Visas’, which allow foreign investors to invest a specific amount of money in designated projects in exchange for permanent residency and pathways for full citizenship. These schemes do provide individuals benefits of living and working in the country, the higher level of investment often acts as an obstacle for entrepreneurs looking for a solid relocation solution.
On the other hand, a start-up visa program is a route to attract innovative immigrant entrepreneurs who want to start their own business in Europe. The program targets small and medium-sized business owners who have the potential and enthusiasm to expand their business operations in European markets. The visa is of short-term nature, granting residency either for a fixed term or on a rolling basis, however, there are also ways for securing permanent residency. Entry barriers are low, all you need is to have an innovative, promising, and a scalable business plan along with an ability to support yourself financially initially.
Start-up visa is a good option for people who want to settle down in Europe for the long-term. You may reap the benefits of European markets, move freely among European countries, you might also be eligible for various tax benefits, EU’s Horizon 2020 fund, and several other financial support from the government.
The Most Promising Start-up Visa Streams in Europe
Designed for non-EU entrepreneurs currently living in their home countries. Known as one of Europe’s most generous visa schemes, the visa program is highly popular due to R&D funding, global innovation hubs, and an extremely talented workforce available at a reasonable cost. Italy is also the 2nd most important manufacturing country in the EU after Germany.
- At least 15% of the company’s expenses must be attributed to R&D activities,
- Have a yearly turnover lower than 5 million Euros,
- Be new or have been operational for less than 5 years;
- The enterprise is the holder, depositary or licensee of a registered patent (industrial property) or the owner of a program for original registered computers.
The Finnish start-up visa permits eligible foreign entrepreneurs to build their own start-up company in Finland. The pathway is designed for innovative start-up owners coming from countries outside the European Union.
- The company must have at least 2 founders – with a solid plan to move to Finland
- The owner must be genuinely interested in growing an innovative company in Finland
- The idea must be unique and innovative
- Demonstrate significant holding in the company of not less than 60%.
- Having an access to sufficient resources and funding for the company’s early stage development.
The UK remains a popular immigration destination among foreign entrepreneurs looking for a place to build and grow their business ideas. Due to Brexit, the government of the UK urges to prioritize immigration and encourages more start-up entrepreneurs to come to the UK and realize their business dreams.
- You must be at least 18 years old
- Pass the English language test
- Have sufficient personal savings to support yourself in the UK
- Sponsored by an authorised body, which is either a UK higher education institution or a business organisation.
With an amazing quality of life, a well-developed ecosystem, ease of doing business, and an ample business support, Denmark is all what you are looking for launch your new business venture. The start-up visa program for Denmark is an excellent option for entrepreneurs to establish themselves in Europe.
- You must get your business plan approved by a dedicated panel of experts
- Your business plan must be innovative and attractive to the market
- You play an active part in running the business
- You must be able to support yourself financially in Denmark
The Irish Start-up visa program allows foreign entrepreneurs with unique business ideas to obtain a residency in Ireland. The program confers the benefits of low corporate tax, low investment of EUR 50,000, and an access to Ireland’s health and medical benefits.
- Your business idea must be innovative
- Your business must be able to generate at least 10 full-time jobs
- Have an annual turnover of at least €1 million in turnover within 3-4 years
- Have at least €75,000 of initial funding
Germany needs people with great business ideas and potential to thrive in the country’s developed economy. Known for its dynamic business-friendly environment, Germany is the fourth largest economy of the world, positioned as a central hub for business activities in Europe.
- You must create jobs for Germans
- You need to submit a business plan
- Confirm the availability of funds to stay in Germany
- Demonstrate necessary funds to establish a start-up company between € 250,000 to 300,000.
This is just a short list of countries with start-up visa pathways in Europe. There are other countries as well catering to start-up owners and helping them to set up their businesses in Europe. Whichever country you choose for your start-up business, Abhinav Immigration Services can help you get started and grow a high-impact business in Europe.