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.
