By Harvey Law Group
Want to live and own a business in North America or Europe? There has never been a better time to take hold of your dream than now!
Many countries are opening their doors through Start-up Visa (SUV) programs. This gives immigrant entrepreneurs and their families the opportunity to work on their business in an advantageous environment and access to some of the best social benefits worldwide.
Here are some of the top SUV programs today and its main highlights:
Canada Start-up Visa Program
Approximate Cost and Investment: CAD 300,000
Canada’s SUV program is now permanent. It offers the fastest average processing time of all Canadian economic immigration programs at 12 months.
The Canada SUV program gives immigrant entrepreneurs the opportunity to partner with private sector organizations/ universities that have experience working with start-ups.
Your business can be based in Vancouver, which is known as one of the best start-up hubs in the world and is often referred to as the “Silicon Valley North”.
There is no source of funds requirements. Applicants only need to show sufficient settlement funds to support themselves and their family in Canada.
Upon approval, entrepreneurs and their families will immediately be granted non-conditional permanent residency (PR) status. This means no business performance or job creation requirements. There is also no need to remove any conditions to have full PR or to maintain the investment for a required amount of time to maintain PR status.
Once PR is granted, the immigrant entrepreneur and their family will have access to high-quality and free Canadian education and healthcare. Applications for Canadian citizenship can be made after three years of active permanent residence.
France Talent Passport – Start-up Founder or Investor
Approximate Cost and Investment:
- EUR 195,000 for Start-up Stream or
- EUR 300,000 for Investor Stream
The France Talent Passport offers immigrant entrepreneurs and their families a 4-year Residence Permit. This grants them full title of stay in the country, free mobility within the 26 Schengen Area states for up to 3 months for every 6-month period, and access to high-quality and free French healthcare and education.
There are no language requirements. Neither French nor English are required to qualify for the Talent Passport. And there is no requirement to show a subscription to private medical insurance.
Applications for French permanent residency can be made after five years of continuous residence in France following the expiration of the second Talent Passport. Citizenship can be obtained following five years of continuous residence in France, passing a citizenship test, and demonstrating proficiency in the French language, integration into French society, and a clean criminal record.
Portugal Start-up Visa Program
Approximate Cost and Investment: EUR 125,000
Portugal’s new SUV program offers one of the most competitive and affordable business immigration options in Europe. It gives immigrant entrepreneurs and their families a Residence Permit that grants them the right to live in Portugal and free mobility within the 26 Schengen Area states for up to 3 months for every 6-month period.
Immigrant entrepreneurs will be supported by a business incubator as well as research and development facilities that have experience working with start-ups, which are backed by the Government authorities. There are no language, residency, or business performance requirements to qualify for Portugal’s SUV program. Applicants are eligible to apply for permanent residency or citizenship after five years.
United Kingdom Innovator Visa
Approximate Cost and Investment: GBP 50,000
The UK Innovator Visa is a replacement route for the UK Tier 1 (Entrepreneur) visa category, which now offers a significantly reduced investment amount than its predecessor.
Immigrant entrepreneurs and their families will enjoy one of the highest standards of living in the world in a G-7 country and a diverse and multicultural society represented by large cultural and ethnic communities. They also get access to high-quality UK education and one of the best free healthcare services in the world. London is a top worldwide financial business center that will open opportunities to entrepreneurs throughout the rest of Europe. Applicants will be eligible to apply for permanent residency and citizenship.
Here’s Why Now Is The Right Time To Apply
With mounting pressure from both the European Union (EU) and the Organisation for Economic Co-operation and Development (OECD) to clamp down on Golden Visas and Citizenship-by-Investment (CBI) programs, and even talks to outright terminating them, the landscape for such programs is drastically changing.
There is an emerging trend of combining migrant entrepreneurship and domestic economic development, which has spurred many EU states to create programs to entice innovative entrepreneurs with viable and scalable business ideas. With Golden Visas on their way out and the sweeping changes coming to European CBI programs, these new and exciting SUV programs are the best choices you can make to accelerate your future.
If you want to learn more about the SUV program specific to your country of choice, talk to your Harvey Law Group representative today.
Mr. Samuel Harvey
Harvey Law Group
Edits: Kath C. Eustaquio-Derla
About Harvey Law Group
HLG is a leading multinational law firm specializing in corporate law and investment immigration with a worldwide reputation for representing high-profile clients and corporations, with over 19 offices worldwide. As the top immigration law firm, HLG offers the most comprehensive residency and citizenship programs available to date. HLG was awarded for Immigration Law Firm of the Year at the 13th and 16th annual Macallan ALB Hong Kong Law Awards 2014 and 2017.