Starting a business in a Country different from your own is appealing for a multitude of reasons. This being said, start up visas are offered by many countries, and through this process an entrepreneur can begin the process of building a popular business anywhere from New Zealand to Italy. A new country can be perfect for a business who knows their target audience and are not afraid to travel to it in the process.
The Importance of a Start Up Visa
Most countries want business entrepreneurs to come to their countries. Many are implementing different strategies to promote migrants who are joining the nation to create a business.
ResearchGate performed a study that found that more than 200 firms were created by immigrants. This resulted in more than 10 million people employed by the companies, and a toppling combined revenue of $4 trillion.
Starting a business as an immigrant is all, but easy in a foreign land. The hoops that need jumping through vary from securing lending funds, or even qualifying for loans because of citizenship status. This is why countries that have a startup visa have went out of the normal to connect immigration and entrepreneurship. The visas usually last for years, or have an easy renewal process.
Here are five countries that have a startup visa budding entrepreneurs can apply for and get their own Mystic Owl Tattoo to prove it. Be prepared to have additional information to submit and be in the later stages of planning your move and company. Investment capita often needs proved to the government of the country you are obtaining the visa from. Always be serious in your plans of moving to another country to begin a business or your visa could be revoked.
The Tier-1 Entrepreneur visa is for those who run or have a business being set up for operations in the United Kingdom. To apply for this visa you must meet additional requirements. Such as: 5,000 Euros of investment capita, a solid plan for the company, and the technical aspects of obtaining a passport and speaking English. The visa lasts a total of 3 years, but it cannot be applied for until three months before prospective travel.
New Zealand also has requirements to gain an Entrepreneur Work Visa. The basics require you to know English, and even have proof of it, and have a valid passport. The business plan must be thorough and laid out within the time frame of the visa’s validity. A capital investment will need proved to equal at least 100,000 New Zealand Dollars.
Italy is a desired location to begin businesses, they offer a Start Up Visa, but if approved it will only last a year. At the end of that year, a 2 year renewal is possible so you can continue your business operations in Italy.
There is a very easy-to-follow online application process for the visa. Even if you complete it online, you must send certain documentation to the Intalian Ministry of Economic Development Committee. Always have your passport, and proof of financial investment money ready, whether to be scanned or mailed.
France calls their StartUp visa the French Tech Ticket program. This is for entrepreneurs in teams of 1-3 people. There cannot be more than one person on each team, and they must have a full video introduction to send in with the application. The company does not need to be based on tech, even though it’s in the visa’s title.
Thailand has a large visa program called the Smart Visa that is available to entrepreneurs, large investors, and high-up executives. The approval process will need proof of identification and legality of traveling through a passport. Six-hundred thousand Baht are needed to be ready for deposit as proof of financial backing. The business needs thought out, because the business must be started within one year and the person holding the visa must own one fourth of the company. The Smart Visa lasts 4 years.
Many Asian countries do not have a specialized visa program like this, especially if you are not fluid in English. Certain other programs exist, but are more targeted for particular countries. Most offer return of fees once the visa is approved.
Thinking Outside the Country
It is a lie to say the visa process is simple. On top of that, starting and running a business is full of obstacles. Make the process easier by knowing which companies will offer a startup visa, and what you need to do to comply with their standards. Do not even contain yourself to one list of countries. Governments in Spain, Belgium, Canada, and countless others offer specialized startup visas.