Startup Visa is a globally renowned business immigration pathway for startup enthusiasts, entrepreneurs, investors, self-employed professionals, and senior managers who can set up a business. Under the paths, applicants are required to have a unique and innovative business idea. Most countries do not require any investment requirement; however, your business idea must be accepted, approved, or endorsed by the investment bodies and authorities.
The startup pathways can be the first step towards permanent residency in your favorite destinations. Under the current startup programs, only Canada Startup Visa allows direct permanent residence for the selected candidates. The rest of the program gives temporary residency for 2 to 3 years with a provision of extension and PR visa switch. Applicants can attain permanent residence by staying in the country and continuing the operation of the startup business.
The developed countries have developed robust startup and business ecosystems that support new businesses. For professionals who have a business idea that can contribute to the country’s economy, a startup stream can be their safest bet. Some many organizations and bodies help new businesses with necessary investments and guidance.
What are the benefits of startup visa?
1) Permanent & Temporary Residency – Upon taking the business immigration services, applicants can start the startup application, which grants permanent residency (Canada) and temporary residence for other countries. It is also the first step for permanent residency by meeting physical residency requirements.
2) Fast Process – Being an investment-less pathway, most countries process applications at an average of 6 to 15 months which is faster than skilled immigration.
3) No Direct Investment – Unlike the Citizenship and Residency by investment pathway, the startup routes do no require direct investment. However, applicants need to have minimum settlement funds.
4) Investment Body Support – Most countries have endorsing bodies, private investment firms, and authorities that help the candidates with the investments and necessary guidance for business inception.
5) Anyone can apply – In contrast with the other business immigration pathways, the startup routes do not require the applicants to have business experience. Even a skilled professional with an innovative business idea can apply for a startup visa.
6) Benefits and Perks – The startup countries offer excellent living standards, business-friendly policies, ecosystem, qualified workforce, excellent quality of education and healthcare.
7) Business Possibilities – These countries have advanced mechanisms and a prosperous business ecosystem that gives the business the perfect opportunity to grow. Government and its agencies provide credit and diligence support to the new companies.
What are the programs under the Startup Visa?
There are many programs under the startup pathway, but probably the best program would be Canada Start-up Visa. The program gives direct permanent residency to the applicants and their entire families. Whereas other programs have a temporary residence with the provision of extensions and renewals. According to the business immigration services, the startup programs can often become complex due to the liaison with authorities and investment bodies. It is best to have an experienced business visa consultant for the application. Below is the detailed list of startup pathways: