Visa programs for start-up entrepreneurs are available in many countries around the world. In search of more favorable conditions, many apply for startup visas in countries such as Canada, Dubai, and Ireland. Learn more about the best countries for startup visas in 2024

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The launch of new enterprises contributes to the active development of the economy. That is why the leaders of many countries of the world aim to attract progressive youth and ambitious business projects to the state. Usually, entrepreneurs are offered a simplified visa application system, also known as a Startup visa, and the prospect of obtaining a permanent residence permit or citizenship. Thanks to these programs, some territories rightfully have the status of the best countries in the world to start a business.

In which countries should I get a Startup visa in 2024? Top 9 from Visit World below.

Canada

Canada launched its startup visa program in 2013. It is unique in that it connects immigrant entrepreneurs with experienced Canadian organizations that have the skills to work with newly created projects. Therefore, among the conditions, before starting a business, a foreigner must receive support from one of the Canadian companies. Also, your business or product must be innovative, have the potential to create jobs for Canadians and be able to compete outside of Canada. In addition, it will be necessary to pass a language test.

The main advantages of the visa include the ability to move to the country with the family and the absence of a minimum investment required from the applicant.

Registration fee: $2,075. Application processing time: 12-16 months.

Denmark

Low levels of corruption, strong infrastructure and a largely digital economy are some of the reasons why Denmark ranks third in the World Bank's Ease of Doing Business Index.

The Danish business visa for startups encourages innovative, scalable and technology-oriented businesses with clear growth potential.

In order to apply, your business idea must be approved by the government. Next, you have to prove that you can support yourself during the first year, for which you will need DKK 137,076 in the bank. Application processing time: 6 weeks.

Portugal

Startups applying for a license in Portugal are evaluated in five categories: degree of innovation, business scalability, market potential and management team prospects, as well as job creation opportunities. In addition, it is necessary to prove the presence of a possible turnover of 325,000 euros per year.

Portugal is an attractive destination for international businessmen because of its low cost of living and high standard of living, as well as access to EU markets and funding.

New Zealand

Not only the founders of startups can get a visa to New Zealand, but also everyone who wants to open or buy a business in the country. For this, the following criteria must be met:

- Have a minimum capital of NZ$100,000.

- The New Zealand government must approve your business - there is a system of points that are calculated based on various factors, including the likely success of the business and the value of the company to New Zealand.

- You will need a business plan that outlines your idea and your next steps.

- Will confirm that you have no facts of bankruptcy, business failure or fraud.

For immigrant founders, the qualifying period is two years. However, the residency period is reduced to six months for investments in a company of more than NZ$500,000. Moving with the family is allowed. Also, this type of permit opens the way to citizenship.

Spain

A visa for a startup in Spain is also called an entrepreneur visa. The main criterion for evaluating your application is the decision on the benefits that your business will bring to Spain: you must show that the business will create new jobs. It is also necessary to have a clear business plan, sufficient funds, an insurance policy and to confirm the absence of a criminal record.

However, the permit procedure can seem quite difficult for expats, as the country is known for its bureaucratic procedures. Also, all documents will need to be translated into Spanish or Catalan.

Singapore

Singapore is a small country that is a global financial center with a strong export economy. The World Bank rates it as one of the best places in Asia to do business.

In 2017, Singapore's EntrePass made it easier for expats to enter the island and start a new business. However, foreigners must meet several requirements before their entrepreneur visa is approved, including obtaining at least S$100,000 in funding from a government-accredited venture capitalist or sponsor investor.

Also, foreigners who invest money cannot start one of the following types of business: coffee shops, bars, food courts, massage parlors and employment agencies.

Hong Kong

According to international rankings, Hong Kong is the fifth easiest place in the world to start your own business and the fourth easiest place to keep it running smoothly. The country's advantages include: a liberal economic system, the absence of trade barriers, a transparent legal framework, intellectual property protection and low taxes.

Unlike Singapore, there are no minimum capital requirements. However, you need to have a two-year business plan that includes a revenue forecast, a market analysis and an explanation of how you can contribute to the country's economy.

Authorities require proof of capital investment, which is sufficient funds to cover your start-up and operating costs for three to six months.

Ireland

The capital of Ireland, Dublin is home to over 2,000 startups. The country is home to 3 of the top 5 gaming companies in the world, as well as 9 of the top 10 global technology and internet companies.

The state is popular with CEOs and startup founders, as it offers access to fantastic government support (both financial and practical) and low corporate taxes. Another positive point is the proximity to the EU and close ties with the US economy and investment communities. Add to this a highly skilled workforce, the hospitality of the local population and a simplified visa system for start-ups and you have the perfect place to start a business.

The advantage is that the visa does not initially involve job creation (but must have the potential to create ten jobs over 3-4 years). Founders must have €50,000 in available business funding and a business idea with high potential.

The Irish startup visa is a pathway to Irish permanent residency and citizenship for the founder and his family.

Netherlands

The Netherlands is a small country in Europe that has the best work-life balance. According to the World Bank, opening a business in the Netherlands is extremely easy, because the country has developed four procedures.

The Dutch startup visa is intended for entrepreneurs looking for an international base for an innovative business. To obtain an expat permit, you must:

1. Have innovative ideas.

2. Cooperate with a government-recognized facilitator.

3. Make a detailed plan that will show what profit and benefit your business can bring to the Netherlands.

4. Register at the local chamber of commerce.

5. Have enough money to cover living expenses in the Netherlands for a year.

After confirmation, the authorities will issue a one-year business visa, which provides for tax deductions and access to loans.

The Netherlands is interested in innovation in technology and life sciences, horticulture, agri-food, water management, creative industries and logistics.

So, if you have a creative mindset and an interesting idea, the governments of many countries around the world are ready to help you implement it, just choose the area that will become your next home.

Daria Rogova, Head of Insurance at Visit World

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