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

How to create a business from almost nothing and become the master of your own life? Answer: create a startup. Today, many countries offer superb business conditions for entrepreneurs to start a business. For example, in Chile, you don’t even have to look for money for a startup yourself - if you have a good idea, the government will betray them. And in the UK and Canada there are special funds that are ready to finance a start-up company.

Startups are beneficial to host countries, since such companies generate a significant number of jobs. Every year, up to 20 thousand people immigrate to start-up programs in Europe. If we consider that these companies are most often founded by two persons, then we can assume that each year about 10 thousand new firms open in the EU. On average, a company owned by a foreigner creates four jobs in the first year of existence. Therefore, in aggregate, startups are the source of approximately 40 thousand jobs in Europe per year.
')
Let's see what conditions of immigration exist for the founders of startups in different countries.

Australia

Australia is one of the first countries that introduced start-up 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 is called Business Innovation stream.

To get this visa, you need to get an investment of 800 thousand Australian dollars to start 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 also need to pass a test for experience and business skills (Points test) and score at least 65 points. The visa is issued for a year.

In order to stay in Australia for further residence, it is necessary to increase the capital up to 500 thousand Australian dollars for 3-5 years, the turnover of goods - up to 300 thousand. In addition, you need to create two jobs. And more is not necessary: ​​as Amazon founder Jeff Bezos said, “if you can't feed a team with two pizzas, then there are too many people”.

Great Britain

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

- Receiving investments in the amount of 50 thousand pounds from qualified British investors. These include British venture funds listed on the Financial Service Authority (FSA), entrepreneurial contests approved by the UK Department of Trade and Investment Promotion (UKTI), and even the state itself. If the source of funding is different, you need to receive four times more money - at least 200 thousand pounds sterling. Both in the first and in the second cases these funds are invested in your business.

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

- Availability of funds for the maintenance of themselves and their families. For example, a family of three should have at least 4,800 pounds sterling at the entrance to the country: 2,400 to the main applicant, 1,600 to the spouse and 800 pounds to 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 get permanent residence in the country , you need to create 10 new jobs or increase business turnover to at least 5 million pounds.

Hong Kong

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

Entry for Investment visa in Hong Kong issued to those who open a business that benefits the local economy. The applicant’s spouse and minor children 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 - no criminal record, the presence of education (at least incomplete higher), professional skills and suitable premises for business. Term - 1 year with the possibility of renewal. The size of the investment is not defined. 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.

The company must be invested at least 75 thousand euros. If the company has two founders, this amount should be doubled. The source of money can be either your own savings, or investments from a venture fund or a grant from the Irish State Agency. The business must comply with the HPSU (High Potential Start-Up) standards, and the applicant must prove that its product is truly innovative. The company can not be older than six years, and it must be headed by experienced entrepreneurs. During the first 3-4 years of the company's existence in the country, it is necessary to create 10 new jobs and achieve a turnover of 1 million euros. In addition, the applicant should not have a criminal record.

The 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 . In this case, there are no requirements for the creation of jobs and the size of the turnover.

Italy

From June 24, 2014, there is a program for attracting 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 - at least 50 thousand euros, the source - any. The commission will consider the summary and 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 can also receive a residence permit for “independent start-up work” (“per lavoro autonomo startup”).

Canada

In Canada, there is a Startup-Visa for young professionals. Foreigners arriving in the country on this visa will be able to get 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 (the amount is 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 higher education are also required. The visa is issued indefinitely.

To be continued.