[ad_1]
by Ravanya Anand
India has the third largest startup ecosystem in the world and is expected to maintain an annual growth rate of between 12% and 15%. With the rise of start-up culture in India, Indian entrepreneurs with innovative start-up ideas are looking for avenues to gain residency by doing business in countries that offer an environment conducive to their business.
Access to foreign talent, a conducive business environment, opportunities for innovation and quality of life are some of the key reasons why Indian entrepreneurs seek business residency.
Indian entrepreneurs have many options for expanding their business to other countries and settling abroad. Various residency through business investment programs in countries like Canada, UK, Austria, Germany and UAE offer great opportunities for Indian entrepreneurs.
This start-up residence visa not only helps entrepreneurs, but also countries to attract talent from all over the world, thereby stimulating their economies and creating jobs for local residents.
Size of investment, ease of setting up a company, residency benefits, tax regulations, legal compliance are some of the common factors Indian entrepreneurs and start-ups should consider when choosing a particular country or residency program. When choosing a country to invest in, it is also imperative to gather insights into the future prospects of the industry or line of business.
Also read: Why buy real estate in the US, Dubai, London and other top global cities?
Austria: Residence Program for Business Investors
Austria has become one of the world’s leading destinations for investment and innovative entrepreneurs. Easy access to EU markets, trade preferences, affluent population, vibrant investment culture and sound laws and regulations make Austria an ideal place to live and start a business.
The Austrian Business Investor Residence Program helps immigrant entrepreneurs live and work in Austria, provided they can demonstrate their ability to establish a viable business that will create jobs in the country. Approval of the license requires an investment of at least EUR 150,000 (INR 1.3 million). There are also special residence permits for young entrepreneurs (<35 years old) with businesses classified as innovative or investing in social or ecological enterprises.
This special residence permit for young entrepreneurs requires an investment of 50,000 to 1,00,000 Euros (Rs 5-9 million).
Canada Startup Visa Program
Canada has always been the most popular destination for obtaining residency. The Canada Startup Visa Program offers entrepreneurs the opportunity to immigrate to Canada with the purpose of starting a business. There is no minimum investment requirement, but the business idea should be unique and create jobs for locals. Entrepreneurs seeking this program should also be able to show proof of funds to do business in Canada.
UAE Business Residence Visa
With business-friendly regulations, easy taxation, business connectivity and mobility, and world-class infrastructure, the UAE is a hub for many thriving businesses around the world. The Business Residency Visa allows individuals to start a business in mainland Dubai or a free zone with 100% ownership and acquire UAE residency. The process is short and requires no minimum investment in the business. The cost of starting a business is around AED 20,000 (Rs 5 lakh).
German Business Investor Residence Program
As one of the most industrialized countries in Europe, Germany offers entrepreneurs a good quality of life and great opportunities through the Business Investor Residence Program. Businesses with a great value proposition, the deep educational background of the founders, and the scope for job creation are key factors for the government to grant corporate residency. The investment required to set up a business ranges from 250,000 to 500,000 Euros (Rs. 2.5 lakhs to Rs. 5,000,000). Germany also offers a special business residency program for young entrepreneurs with an investment of only EUR 50,000-100,000 (INR 5-9 million) and an innovative and detailed business plan.
UK Innovator Visa
The UK Innovator visa scheme allows entrepreneurs and businesses to set up/expand their business in the UK and gain UK residency. The proposed business idea should be unique, innovative, feasible and scalable. The scheme requires entrepreneurs to have at least £50,000 (approximately Rs 5 million) of capital to invest in their business. The residence visa granted is valid for 3 years and can be extended for a further 3 years.
Apart from the aforementioned programs, countries such as Malta, Singapore, the Netherlands are also emerging as attractive destinations for entrepreneurs, especially in the technology, fintech and gaming industries.
(The author is Director of International Real Estate Expo & IREX Residency & Citizenship Conclave)
[ad_2]
Source link