The International Startup Visa Guide

A showcase of opportunities available for entrepreneurs who are either struggling with, or curious about immigration.

Preface

In November of 2017, I helped Extreme Accelerator author a comprehensive startup visa guide in hopes of providing a roadmap to the startup community around the world.

The goal of this report was to:

• Help the entrepreneurial community understand the current and relevant immigration landscape.
• Showcase current resources available to overcome immigration challenges that entrepreneurs face.

In this post I will provide an overview of the startup visa landscape, and highlight each of the opportunities available. If this has helped you in any way, or if you notice any info has been outdated, please feel free to leave a comment!

Overview

Immigration has never been a simple problem to solve no matter who or where you are. A common trend for startups is to move to the United States to join top accelerator programs, seek funding, and access the large market available. Unfortunately even if companies are able to get their foot in the door, not every company gets to stay. This problem doesn’t only apply to immigrant founders in North America, but also to countless individuals across the world.

“The impact is on everybody. The U.S. growth rate is suffering, and its companies need great people. Where do they come from? Pretty much everywhere.” — Mike Useem, Professor of Management at the Wharton School (University of Pennsylvania)

Regardless of any immigration challenges, foreign-born entrepreneurs have been able to become successful and make their mark. The facts don’t lie. Some of the most successful startups and Fortune 500 companies have actually been built by individuals outside of the United States.

The International Startup Visa Guide — Extreme Accelerator

There is no question that diversity boosts any startup ecosystem. In parallel, we have witnessed the quiet rise in international support of entrepreneurs. Opportunities available across the globe will be showcased in the next section.

Startup Visas Available

The Americas

Canada’s Startup Visa Program

This is one of the most entrepreneur-friendly visa opportunities available that extends up to 5 founders on the team. This visa does not have a set term as it grants permanent residency. Canada has allocated 2,750 visas each year towards this program.

Here are some requirements:

• Ability to communicate in English, French, or both through proof from Citizenship and Immigration Canada.
• Up to 5 people can be owners of the business but each must own at least 10% of the voting shares. Jointly, the owners must have more than 50% of voting rights.
• Have sufficient funds to support any individuals immigrating to Canada alongside the applicant; funds cannot be borrowed.
• Investment of $200,000 CAD from an accredited venture fund or $75,000 from a designated angel group. If the business is accepted into a listed incubator/accelerator program, they do not need to meet the capital requirements.

USA’s International Entrepreneur Rule (Pending Review)

With a goal of supporting foreign-born entrepreneurs, the Obama administration planned to launch a path for securing visas for this demographic. Entrepreneurs would be granted 30 months of residency and another 30 upon renewal. This was scheduled to be in motion on July 17, 2017 but put on hold for review by the Trump administration until March 2018. Here are some requirements:

• The business must be less than five years old.
• Raise at least $250,000 USD from established U.S. investors or secure at least $100,000 USD in government grants.
• Founders must own at least 10% of the startup and has a central/active role.
• Prove that the business is on track for rapid growth and can create U.S. jobs.
• Helps if the startup is selected to participate in an established and reputable startup accelerator/incubator.

Chile’s VisaTech Program

Chile will issue successful applicants a 12-month work visa within 15 days of application; one of the fastest approval times available. One of the methods to secure this visa is to go through Start-Up Chile, a leading Latin American accelerator program. Start-Up Chile supports, funds (equity-free) and provides office space to startups. To date, they have helped graduate over 1,300 startups.

Here are some requirements:

• Obtain a letter of invitation or certificate of sponsorship from InvestChile, Start-Up Chile, or the Undersecretariat of Economy.
• Be an owner, employee, partner or investor of a tech company in Chile.
• The tech company must be supported by Start-Up Chile or InvestChile or by a tech company that is a member of Chiletec.

Europe

Startup Visa Lithuania

Unlike other visas, Lithuania does not require founders to fulfill a capital or employment metric to obtain the permit. Founders will be given 1 year of residency with permission to bring along family. There is an option for a 1 year extension with possibility to obtain permanent residency upon meeting regular immigration requirements.

Here are some requirements:

• The startup must operate within biotech, nanotech, information technology, mechatronics, electronics, or laser technologies.
• Submit an online application on your team, experiences and the business.
• Get interviewed online.
• Receive approval from a panel of experts to judge the business idea.
• Receive a letter from the migration department stating that the business idea is suitable for the program.

French Tech Visa / French Tech Ticket

French Tech Visa: A program designed to help startup founders, employees and investors to live and work in France for 4 years with renewal options. Applicants can extend the visa to their immediate family members, including dependent children. Spouses also receive authorization to live and work in France. No additional work permits are required.

French Tech Ticket: For founders who want to start a business in Paris — it is more of an acceleration program for 6 months for early stage companies. Visas through this program have an extension option for an additional 6 months. Funding of €12,500 to €25,000 is awarded to each founder. Free office space is also provided upon successful visa ownership. 50 startups are annually admitted into this cohort program to work with incubators in France.

Here are some requirements for founders:

• Be selected by one or more of the French Tech Visa partner incubators or accelerators through regular process of selection.
• Have capital equal to at least the French annual minimum wage of €17,763.20.
• Have a plan for an economically innovation startup to develop in France.
• Obtain approval from the Direccte, a French public organization.

Here are some requirements for employees:

• Have a graduate degree.
• Have a work contract with a minimum of 3 months with a company eligible to recruit through the French Tech Visa.
• Be employed under an annual gross salary of at least €35,526.40.

Startup Denmark

Targeted towards self-employed persons outside of the EU who have innovative, scalable and ideally tech driven businesses. Program applies to up to two founders of a company. Successful applicants are granted a 2 year visa that can be extended for 3 years at a time. Allows extension to close family members but does not provide financing. 50 visas are handed out annually.

Here are some requirements:

• Get your business plan evaluated by a Start-up Denmark panel. The average turnaround time is 6 weeks for this process.
• Receive a formal letter of approval from Start-up Denmark to apply for a work and residence permit.
• Get evaluated by the Danish Agency for International Recruitment and Integration.

StartUP Portugal

The Portuguese Government has launched a visa specifically for Indian entrepreneurs in parallel to a Memorandum of Understanding signed between Startup Portugal and Invest India.

Many details have not yet been released to the public, but here are some goals for the program.

• Create office spaces for up to 3,500 tech workers.
• Co-finance startups through partnerships with venture capitalists of over €500M.

Startup Estonia

A program to help non-EU founders and employees of startups launch and grow a company in Estonia. Founders who have not yet registered their companies in Estonia can apply for a 3 or 12 month visa. Founders who have already registered their companies in Estonia can apply for the same 3 or 12 month visas but also a temporary residence permit for a startup business allowing up to 5 years of stay. The 12 month visas have an option for a 6 month extension upon review. Successful applicants will also have their visas extended to close family. Startups that receive approval to hire non-EU employees are qualified to do so for up to 5 years.

As a founder, you must:

• Have at least €130 for every month planned to be spent in Estonia; the 1 year visa amounts to €1,560.
• Receive approval from the Startup Committee.
• Have an innovative and scalable business model with global potential.
• Have a valid insurance policy for the Estonia or Schengen area with at least €30,000 coverage.
• Show evidence of securing accommodation for the stay and intent to leave such as a departing plane ticket.

In order to bring non-EU employees, you must:

• Get on the list of Estonian startups that can hire non-EU employees through an online application (currently there are 341 startups on the list).
• Receive approval from the Startup Committee within 10 days of applying.

Ireland Startup Entrepreneur Programme

A visa program to help founders gain permits to live in Ireland through building startups. Applicants will be granted residency for 2 years with options to renew for 3 years.

Here are some requirements:

• A business less than 6 years old.
• A high potential start-up idea that can create 10 jobs in Ireland and realize €1,000,000 of sales within 3 or 4 years of starting up.
• Funding of €50,000 for the business for one founder and €30,000 for each subsequent founder for a capital requirement.

Italy’s Startup Visa

Companies can get admitted through a direct application or through applying to one of Italy’s incubator programs. Successful candidates will be rewarded a self-employment visa with a duration of 1 year with an extension possibility of 2 years.

Here are some requirements:

• Submit a list of documents online and receive approval from the Startup Visa Technical Committee; will hear back within 30 days of submission.
• Business has to be of less than 5 years in operations and has annual turnover of less than €5,000,000. It also cannot have distributed profits in the past.
• Personally contribute at least €50,000 to the business.
• Be assessed on level of innovation through the following criteria: (Over 15% of costs or turnover is attributed to R&D activities, over ⅓ of total workforce is PhD, masters students or researchers, and the enterprise is the owner of any intellectual property.)

Sweden Self-Employment Residency

For individuals who want to stay longer than 3 months in Sweden running their own business. The visa grants two years of permitted stay with potential to extend into a permanent stay. Here are some requirements:

• Past experience in industry and entrepreneurship.
• Own at least half of the business being ran.
• Show that goods/services are being sold in Sweden.
• Prove that you have personal capital to sustain you and any family members. ($200,000 SEK for applicant., $100,000 SEK for spouse, and $50,000 SEK for each accompanying child.)
• Business must be able to support all applicant and family members after 2 years.

Spain’s Residence Visa for Entrepreneurs

Focused on providing an immigration opportunity to skilled and experienced employees and investors outside of the EU. Successful candidates are awarded with 1 year of residency.

Here are some requirements:

• Regular stay on Spanish soil.
• To present a favorable report from the Commercial Office where the visa is requested to confirm the business plan’s intentions.

Netherlands Start-up Residence Permit

Provides entrepreneurs 1 year to start an innovative company in the Netherlands with a potential extension of 1 year. Entrepreneurs are required to be supervised by a reliable source in the Netherlands.

Here are some requirements:

• Be supervised by a reliable Netherlands approved facilitator.
• The facilitator must have experience guiding startups, be financially independent. They may not have a significant stake in the company nor have receivables or be family members of the entrepreneur.
• Entrepreneur and facilitator are registered in the Trade Register of the Chamber of Commerce and submit a guided step-by-step plan.
• Financial capital available to support any candidates moving to the Netherlands.

United Kingdom Tier 1 Entrepreneur Visa

Allows individuals with capital between £50,000 and £200,000 to establish or buy out a UK-based company. Awarded on a points based system, applicants must score a full 95/95 points to be successful. Visas are awarded on a 3 years and 4 months term, with up to 6 years and 4 months in total with extensions. There are other lengths of stay based on individuals switching from other UK visas.

Here are some requirements:

• Meet Tier 2 English Language requirements.
• Criminal record certificate.
• A clear tuberculosis test result letter if applicant is from one of the Home Office’s list.
• Proof that between £50,000 and £200,000 are available to be invested.
• Have funds available to support applicants during the stay; must consistently have this amount for 3 months or more.
• Letter of recommendation from one of the institutions listed.

Asia & Oceania

Australia Business Innovation Visa

To attract foreign entrepreneurs and investors to start, grow or move their businesses to Australia. The visa allows applicants to stay for 4 years and 3 months with possibility of extension.

Here are some requirements:

• Be nominated and invited to apply for the visa by an Australian body.
• Have prior entrepreneurial experience and success.
• Own at least $400,000 AUD in net assets and have funding agreements from a third party of at least AUD $200,000.
• Have at least $1.5M AUD of net business and personal assets transferred to Australia within 2 years of the visa grant.
• Have at least $3M AUD turnover in at least 2 of the 4 business years before you are invited to apply for the visa.

New Zealand

Entrepreneur Visa

Helps entrepreneurs establish or buy a business in New Zealand through a 12 month work visa at the start-up stage. After review of business milestones and progress, applicants can look to renew their visa for another 24 months.

Here are some requirements:

• Minimum capital investment of NZ$100,000.
• Clean recent history of bankruptcy, business failure and fraud.
• Point system to score a minimum of 120 points; based on potential success of business and value added to New Zealand.

Global Impact Visa

Targeted towards entrepreneurs and investors that want to create a positive global impact through start-up companies. It is structured through a fellowship program for 3 years to help up to 400 individuals to incubate their business ideas. Here are some requirements:

• Get your application approved by the Edmund Hillary Fellowship to get a Letter of Offer.
• Personal capital of NZ$36,000 to support you and your family for the first year.

Entrepreneur Residence Category

Permits successful entrepreneurs who have built businesses with export potential in New Zealand. This specific visa has two categories: one lasting 2 years and the other lasting 6 months based on the terms below.

The 2 year category requires:

• Successfully establish or purchase a business in New Zealand.
• Worked at the business for at least 2 years.
• Business has provided benefit to New Zealand.

The 6 month category requires:

• Invested at least NZ$500,000 in the business.
• Created a minimum of 3 new full time jobs for New Zealand citizens or residents.

Singapore Entrepass Service

For foreigners that intend to establish a startup in Singapore. Offers residency for 2 years with option to apply for permanent stay after the visa expires.

Here are some requirements:

• Be sponsored by a Singapore based company through a bond worth at least $3,000 SGD that is refunded when the visa ends.
• Must have prior entrepreneurial background.
• Plan to have paid up capital of minimum $50,000 SGD.
• Provide a 10 page business plan.
• Companies can only be pre-incorporated or a max of 6 months post-incorporation. If a company has not yet been incorporated it must be within 30 days of visa approval and issuance.

The company must meet at least one of these requirements:

• Involve a venture capital or angel investor to invest at least $100,000 SGD.
• IP must be registered by a reputable Singaporean IP institution.
• Participate in a government incubator program.
• Participate in joint research with either a university or A*STAR.

Israel Innovation Visa

A pilot program targeted towards entrepreneurs who want to develop a technology or project in Israel for a period of up to 24 months. The intent of this project should be to start a company in Israel. With success of launching a company, entrepreneurs will be able to apply for the Expert Visa to extend their residency for 5 years through working in their company.

Here are some requirements:

• Receive approval upon the project plans from the government named the Landing Pad Approval to apply for the Innovation Visa.
• Receive approval from a professional and Israel Innovation Authority Community to evaluate the project.

Closing Notes

There has been a push over the past couple of years by countries to attract international entrepreneurship to their respective countries. Incentives to the startup community to relocate include access to capital, quality talent pool, strong market opportunity, and immigration terms. This post aimed to highlight the impact of foreign founders, showcase the state of immigration for the startup ecosystem, and present options around the world that founders and employees can turn to.

As accredited venture investors, it is our duty to stay educated upon policy and regulations directly affecting our companies. This way, we can help provide guidance and insight to the problems that the community is facing.

We highly encourage feedback and contributions from readers. If you believe we are missing any information, or any policies/regulations presented have been updated, feel free to reach out.

Please send any notes to hello@extreme.tech.