Visas for startups: how to open your own business abroad (part 2)

In the previous section, we talked about the conditions for obtaining start-up visas in Australia, the United Kingdom, Hong Kong, Ireland, Italy and Canada. Let's see where there are still favorable conditions for the immigration of entrepreneurs.

New Zealand

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In New Zealand, entrepreneurs are issued visas Long Term Business Visa, Entrepreneur Residence Category. There are no formal requirements for the amount of investment, and the source of funding can be any.

The applicant must prove that there is enough capital to set up a startup and provide a detailed business plan. As in other countries, the company's activities should bring real benefits to the local economy. The applicant needs to demonstrate business management experience in the declared area and prove that over the past five years, none of his companies have been made bankrupt due to his fault. In addition, you need to have enough money to live in the country ($ 20-25 thousand per year), speak English at the IELTS 4.0 level and have no criminal record.

After two years of business, you can apply for permanent residence. Those who invest 500 thousand New Zealand dollars and create three jobs, can get the status earlier.

Singapore

According to Doing Business , Singapore is the best country in the world to do business. It is easy to start a business here, there is almost no bureaucracy, and there are favorable taxation conditions.

Entrepreneurs can get an Entrepass visa if they receive $ 50,000 in investment in their business. It is necessary to provide a detailed business plan, which describes the marketing strategy, a plan for the number of employees for the coming years, and many other details. At the time of filing the application, the company must exist for no more than six months, and the applicant must own more than 30% of the business. Activities should be innovative and useful for the economy of the country.

The visa can be extended if the company creates at least four jobs, and if the cost of purchasing industrial goods reaches 150 thousand Singapore dollars. Applying for permanent residence is possible a year after the extension of the visa.

USA

As they say, America is a land of opportunity. 40% of Fortune 500 companies were founded by immigrants or their children. In 2011, 28% of all companies in the USA were opened by visitors from other countries. Firms owned by immigrants generate over $ 775 billion in revenue, $ 125 billion in wages, and contain a tenth of workers. Many of these companies work in the field of IT. The United States is one of the leading countries in terms of the number of startups, but the program for issuing visas for the founders of such firms is still under development. There are only similar visas for investors ( EB-5, L-1, E-2 ).

US authorities are proposing a start-up visa issue (Startup Visa). Requirements vary depending on the status of the applicant.

- Foreigners coming from abroad need to open a company with a capital of 100 thousand dollars. Two years later, there should be at least five jobs for Americans, and the capital should be increased to 500 thousand dollars.

- Working on a H-1B visa (temporary employee visa) and having a specialty category STEM (Science, Technology, Engineering, Math) requires a minimum income of 30 thousand dollars or assets in the amount of 60 thousand dollars and the availability of money from an American investor for the sum is at least 20 thousand dollars. Two years later there must be at least three jobs for Americans and a capital of 100 thousand dollars.

- This visa can also be obtained by foreigners, whose business in the USA generates from 100 thousand dollars a year. Two years later, they must create at least three jobs for Americans and have a capital of more than $ 100,000 a year.

According to Forbes , the best cities for startups in the US are San Diego (California), Denver (Colorado), Austin (Texas), Seattle (Washington) and Portland (Oregon).

Chile

In Chile, there is a program for issuing start-up visas (Start-Up Chile), during which the government issues grants in the amount of $ 40,000 to promising companies no older than two years. The term of the program is one year.

Business may exist as an idea, but it must have a high growth potential and must be oriented to the world market. In order for the application to be approved, you need to create a presentation about the company and attach some letters of recommendation from other entrepreneurs or investors. Probably, the authors of the program follow the same path as all venture capitalists, who, according to business gurus Guy Kawasaki, "will not look at the business plan if they have not been recommended by its author."

Sweden

In Sweden, a start-up visa (self-employment visa) is issued to those who provide a business plan, demonstrate the presence of business experience and knowledge of the sector, as well as fluency in Swedish or English. In addition, it is required to prove the availability of funds for the maintenance of oneself and one’s family for two years (200 thousand Swedish kronor (30 thousand dollars) for the applicant, 100 thousand for the spouse and 50 thousand for each child).

After two years, you can apply for permanent residence.

South Korea

South Korean start-up visa is issued in the presence of a bachelor's degree, a company registered in South Korea, a business plan and intellectual property. If the company attracts an investment of 300 million won (about 300 thousand dollars), you can get permanent residence.