The world is a global village, and businesses often have to spread across national borders to maximise profits. If you as a dreamer and entrepreneur want to expand your business and provide a better life for you and your family, then a Startup Visa is the answer. These specialised visas hold the promise of providing access to diverse markets and reap the benefit of the highly supportive ecosystem.

Why a Startup Visa?

Every country, regardless of how big and small it is, needs economic development and business hubs are the epicentre of this. Businesspersons who have the potential to contribute to the economy of a country, are rolled out a red carpet by way of a startup visa. There are several additional benefits offered by a startup visa that are not there in a normal work visa, including:

• Reduced Bureaucratic Hurdles: Countries like Canada and The UK have minimal to no bureaucratic hurdles. Individuals with innovative business plans can find fertile breeding growth to establish their business from the ground up.
• Financial Incentives and Tax Breaks: The initial phase of any business requires a lot of government support. Favourable funding opportunities, and tax policies by these countries provide considerable encouragement for new businesses.
• Networking Opportunities: A startup visa offers the chance to meet business incubators and government-organised events, providing you with new ideas to diversify and grow your business.
• Relocation for Entire Family: A major benefit of a start-up visa is the opportunity for the entire family, including dependent parents, spouse and children, to relocate to the new country.

Here are Some Top Destinations for Indian Entrepreneurs

Almost every country offers visas that specifically target entrepreneurs and businesspersons. The trend to offer attractive schemes to lure individuals to invest money in their country is rising.

Canada

Entrepreneurs with the potential and the skills to build businesses in Canada are welcomed by the country. Your business idea needs to be accepted by the designated bodies, including Venture Capital funds, Angel Investor groups, and business incubators who issue a Letter of Support (LOS) confirming that your business idea has support from Canada’s designated bodies. The proposed business plan should have three components:

• The business is innovative
• Jobs are created for the local people
• The business plan can compete at a global level

The startup visa programme can be approached in two ways, one is, that you have an original business plan and the other is you want to support a running business. There are different formalities to be met in each of the two approaches. 

Also Read: Startup Visa: Canada Wants YOU (and Your Million-Dollar Idea)

The UK

Businesspersons looking to settle in the United Kingdom (UK) by way of starting a business are given an option in the form of an Innovator Founder visa. This visa is now being offered in place of a startup visa. 

To apply for an Innovator Founder visa, one needs to fulfil the following:

• The business you desire to start should be one of a kind. Something that is not present in the market currently.
• This unique business idea of yours should have approval from the endorsing body. 
• The new business idea needs to be viable and scalable.

You will have to find out which endorsing body will endorse your business idea for the Innovator Founder visa. A list of authorised organisations acting as endorsing bodies can be found here. 

You can stay for three years in the UK after arriving on an Innovator Founder visa. You will have to meet the endorsing body after 12 months and 24 months to show the progress of your business. The visa can be extended for another three years and there is no limit on the number of times it can be done

A decision on the visa can be given in as little as three weeks after you have applied online and provided the documents. 

The USA

There are multiple business visas offered by the United States of America (USA) that suit different categories of businesspersons and entrepreneurs, including:

• B-1 – a temporary business visa usually applied by those who do not hold any business entity.
• E-2 – this visa is suitable for investors who can invest a sufficient amount of money to have at least 50% ownership. This visa is only available for treaty countries.
• EB-5 – This is the most sought-after visa for those looking to settle in the USA along with their family members. Along with an investment of nearly one million US dollars, a prospective investor should fulfil a few other formalities and move to the USA permanently.

Investors, their spouses, and unmarried children under 21 years of age can apply for lawful permanent residence under the EB-5 visa programme. 

• Investment needs to be made in a commercial enterprise in the United States
• You should plan to create or preserve 10 full-time jobs for qualified US workers.

A commercial enterprise is considered any for-profit lawful business activity conducted in the US. This includes

• Sole proprietorship
• Business trust
• Corporations
• Joint Ventures
• Limited liability companies, or
• Other entities which are publicly or privately owned.

Australia

Business Innovation and Investment (Provisional) Visa (Subclass 188) is an offering from Australia to businesspersons and investors who want to settle in the country by way of investment. Requirements that need to be fulfilled to apply for this visa include:

• Get a nomination from a state or territory government agency
• Show a business plan that exhibits your entrepreneurial skills
• Undertake or propose to undertake a business-related activity in the country
• An Applicant needs to have competent English to apply. 

How to start the application process:

• As an applicant, you must first submit an Expression of Interest (EOI). 
• You will be invited to apply for this visa when your EOI is accepted by an Australian State or Territory government agency.
• At the time of invitation to apply you should be below 55 years of age.

You can stay in Australia for up to five years on a Business Innovation and Investment (Provisional) visa and will be eligible to bring your family as well. Multiple entries are allowed in this visa as long as it is valid and you can apply for permanent residency through the Business Innovation and Investment (Permanent) visa (Subclass 888) Entrepreneur stream.

Germany

If you want to move to Germany by setting up a commercial business, you need to apply for a specific residence permit. You can set up a business in Germany in two different ways: one is you work as a freelancer and the other is by setting up a business as a self-employed person.

Some general criteria that need to be fulfilled include:

• Propose to offer a product or service that can find regional and commercial interest
• The German economy will benefit from your business activity
• You have enough capital to start and operate your business

To assess the ground conditions and fulfil the requirements of the visa application you can contact advisory services such as business associations in your target region.

You and your family can have your residency permit extended if your business idea can generate enough revenue to support your entire family. The stay period is initially limited to a maximum of three years and one can obtain a settlement permit only after three years. 

Let Your Case be Handled by an Experienced Organisation

Help yourself navigate through numerous turns by connecting with immigration consultants in Gurgaon for the right moves. A startup visa is a highly promising immigration prospect benefiting both the country that is offering it and the individual who is applying for it. The country whose startup visa you are applying for should get the assurance that your business proposal will contribute to their development. Showcasing this aspect is not easy and it becomes essential to consult the best PR immigration consultants in Chandigarh as they have experience in the field.