There are currently more than a dozen nations in the globe that have a visa scheme specifically for startup founders. A disruptive startup idea has the ability to speed up economic innovation while also providing other benefits such as increased employment growth, wealth creation, and the development of linked company ideas and initiatives. Look for Express Entry Canada for your immigration.
Here's a look at five developed countries' startup visas, including Canada's, as well as an analysis of what makes Canada's Startup Visa one of the best and most popular visa programmes for startup founders.
Australia
A
startup founder must invest at least AUD 2.5 million to qualify for the
Business Innovation Stream, which allows them to stay in the country for up to
five years. Because the initial visa is only for temporary stay, he or she must
apply for permanent residence separately.
The
UK
There
is no minimum investment need for a Startup visa in the United Kingdom.
However, you will only be considered if you can demonstrate that your business
idea has room for expansion and is unique and unrivalled in the market.
Only
an endorsement from a UK higher education institution or any business
organisation that supports UK entrepreneurs would satisfy the latter criteria.
If you meet the requirements, you will be granted permission to stay in the
county for up to two years.
You
can contact registered immigration consultants in India.
Ireland
Startup
entrepreneurs in Ireland must have a unique company plan and invest at least
€50,000 in the country.
Singapore
Singapore
has an EntrePass visa that requires a $50,000 payment and the establishment of
a firm that has either received venture capital funding or has new
technologies. The startup that was discovered is eligible for a one-year visa
that can be renewed for up to two years.
Canada
The
Startup Visa (SUV) in Canada is unique in that it combines the benefits of
almost all other popular startup visas around the world without any real or
substantial drawbacks.
There
are no minimum investment requirements for the Startup Visa in Canada. You must
own at least ten percent of the company, and no other party or investor can
possess the majority of the company. A group of up to five founders can form a
company and apply for a visa.
The
most significant need is to secure investment from Designated Organizations,
such as Venture Capital funds, Angel investor organisations, and Business
Incubators. Depending on the source of investment, the minimum funding
requirement varies.
a.
$200,000
from venture capital firms
b.
$75,000
from one or more angel investors
c.
$0
if approved into a Business Incubator programme.
If
you qualify for the start-up visa, you will be granted permanent residence in
Canada, regardless of whether your business succeeds or fails. You have the
option of obtaining an open work permit and entering Canada prior to the
approval of your SUV application. However, this is entirely up to you, and you
can work in your start-up only after becoming a permanent resident of Canada.
It
is not necessary for your start-up idea to be completely novel to the market or
for your company to possess cutting-edge technology. There are no deposits
required, and there is no minimum net worth requirement.
Looking
to get more insights? Contact registered
immigration consultants.
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