Startup Visas: The New Fad Attracting Entrepreneurs

Standard

ShutUpStartUpThis post is a repost of an article from Josephine Goube @ Migreat

It’s a good time to be an entrepreneur!

Governments have launched start-up visa schemes this year,Countries are joining the list of specific immigration and tax policies targeted at entrepreneurs. Here is an updated list for 2015 .

Most Entrepreneur visa schemes ask for entrepreneurs to show investments in the range of $40,000 to $100,000. Start-Up Chile is a program for those who want to accelerate and develop a world-class startup in Chile, while helping to shape the local culture and embrace entrepreneurship. Applicant to the Chilean visa with it comes a grants of 20 million pesos (approx $35K).

French Minister of State for the digital economy Axelle Lemaire announced a new entrepreneur visa package called the French Tech Ticket. With this package,foreign entrepreneurs could get a work visa, a $14,000-$28,000 grant (€12,500-€25,000) for each team member, free office space in an incubator in Paris as well as an English-speaking administrative advisor. Announced at La French Touch Conference and limited to 500 applications for now, teams who want to apply need to be co-founders, with at most three co-founders and one French founder who lives abroad. They need to work on a startup, speak English and stay at least six months in France. The French Government is partnering with the city of Paris for the incubator part of the package. entrepreneurs-welcome-english-may-2015

Start-up Visas programs spreading like mushrooms:

So far in 2015 Denmark, France and the Netherlands have already launched national programs to attract foreign entrepreneurs to start companies.Their visa schemes have a few things in common,which is to offer fast-track and specific processes to foreign entrepreneurs with special guidance from local incubators to navigate the system. Denmark and France have put quotas in place. The Netherlands (wisely) has not. Ireland just reformed their immigration system to lower the minimum funding requirement to apply to the visa, and have passed a law to make it easy to recruit foreign talents for startups in hope to better attract global global talent to its tech industry.

Global trend of startup visas this year 2015 has attracted France, Denmark, Netherlands and South Korea; and more are to come (Israel and US). South Korea isn’t the first country in Asia to offer a visa or other type of residency permit specifically to entrepreneurs. Hong Kong’s investment visa, Singapore’s EntrePass, Japan’s visa extension for entrepreneurs, and the Philippines’ investor and employment generation visas all serve similar functions.

In the US, strong business and tech lobbies have been pushing for an immigration reform that would introduce a US start-up visa. President Obama announced that the US will make it easier and faster for entrepreneurs to come to the US and start businesses but nothing has yet happened.

Which countries have the easiest Entrepreneur Visa process? 

It is difficult to say, as rules are not always matching reality. On paper, the Italian, Dutch and Spanish visa look very attractive. Both countries promise a quick processing turnaround (30 days maximum). In Spain, all documentations submitted have to be translated in Spanish. In Italy,the application is reduce to the strict minimum: sending electronically a CV and filling out an online application form. The application form can be filled in English.

The “cheapest” Entrepreneur visa is in Chile where you are not asked to bring investment to the country, quite the opposite: they provide you with funding! This said, it does not mean it is easy to get because you will have to get accepted in the very selective Startup Chile Accelerator.

Only Canada offers a permanent resident visa. All other countries provide only a temporary visa to Entrepreneurs. It positions Canada Entrepreneur visa as the most welcoming. For European countries such as France ,Spain or Italy, the visa is a temporary one but easily renewable.

Conclusion

Interning or working at a startup overseas is a great way to hone your professional skills while immersing yourself in an exciting, new city. As we all know, in today’s post-recession world, a Bachelor’s degree no longer guarantees solid employment. But here’s the silver lining: Just as important as the piece of paper you receive upon graduation is your real-world experience, and international exposure can really set you apart.

Most visas are easier to get if you have been accepted in an accelerator. Entrepreneurs have to prove their business and achieve the renewal requirements in terms of job created and revenue generated. It also has a flexible immigration system that makes it easy and simple for start-up to hire foreigners.The programs could well provide the spark for the US and or the EU to launch programs that attract talent, create jobs and foster innovation on a larger scale.

Originally published on Migreat Blog http://wp.me/p2rYvz-fE .

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s