Get a second passport in the EU (the 13 options for entrepreneurs)

Hi I’m tom Bradford and in this video I’m going to explain the 13 start-up visa programs that are available to you in the EU and these are routes through which you can secure a second passport without investing the sort of money that you would typically invest under the investor visa programs in in the EU so if you have a qualifying business and you’re an entrepreneur then you can avail of one of these 13 programs so let’s get into the detail of them so the first one I’m going to look at is the up and for this each business proposal is assessed against the criteria of innovation viability and scalability for this start-up visa program no requirement is uh there’s no requirement for investment and for the innovator visa which gives you a three-year pathway to permanent residence as an incentive to attract entrepreneurs you require 50 000 pounds available to invest but as I say for the start-up visa there’s no minimum investment criteria and also when you switch the innovative visa you don’t necessarily need to show that you have 50 000 available you can fulfil one of the other criteria for settlement now I’ve produced a number of videos on the up route so check them out on this channel for Portugal this is the second one the assessment of the start-up is based on again the criteria of innovation but also growth potential scalability and likely continuation of the program in Portugal after the program as well as the potential for qualified job creation turnover volume asset value and internationalization so I’ve again made some videos about the Portugal route um for Portugal there are also the d2 and d7 routes so um the feedback on Portugal is that it’s more straightforward in fact to just go through at the d2 or d7 routes rather than getting an endorsement for a start-up visa so effectively you can come into Portugal as an entrepreneur and you don’t just have to be in the tech sector for example um you could and the other bigger point is that if you have a sufficient passive income you only need something like 500 euros per month in passive income for example rental income then you can qualify for the retirement pathway what whatever age you are there’s no restriction on that it’s an it’s almost like a passive income uh visa route so Portugal is the second option for you and the I’m again I’m going to be making uh more videos about each of these routes on the channel so feel free to subscribe and get a notification about on this one I’m just giving an overview now for France your start-up must obtain a certificate from the ministry of economy acknowledging its innovative nature but they use similar criteria in France and if you have the support of one of the incubators I’ve got a video on the start-up visa route on this channel in more detail for France then if you have support of the incubator that can generally be secured Latvia is the next one I want to focus on so that’s the fourth out of the 13 options the applicant here must comply with the definition of a start-up company so it produces or plans to produce an innovative product or service or a scalable business model is applied for the implementation and for Latvia similar businesses tend to succeed so a lot of my clients have sass businesses software as a service businesses or is businesses so information as a service and that could include e-learning businesses e-commerce businesses that are approaching things in slightly different way not just you know amazon far and uh businesses in relation to uh plug-ins or software businesses and I do have uh clients who are doing machine learning ai but they’re not all uh technology uh technology wizards necessarily not all software engineers many of them are the entrepreneurs and they have teams and they bring in bringing the right expertise into their teams now that Latvia I want to move on to the fifth option which is for Austria so in Austria the applicant must submit a plausible business plan to develop and bring to market innovative uh product services processes or technologies uh within the framework of a newly established undertaking the applicant must submit documents verifying the innovative nature of the business so again here as with the routes that I’ve just covered you don’t actually need to be or at least not all of the bodies within those jurisdictions require you to already have a business and to have a minimum viable product and to already be in revenue but um for some of the ones we’re going to come up to you do need to be in revenue you do or you at least need to have a minimum viable product or some form of validation in the relevant market so that’s Austria island is the next one I want to deal with and of course I’ve made a number of videos about how to set up a business in Ireland on this channel so for this the start-up must be international and innovative rather than ordinary commercial venture seeking uh to service the domestic economy the start-up must also have um a high potential for growth so you can’t set up a traditional uh business what is a traditional business these days in this economy well particularly as we go through uh Krovitz and the corona um crisis it’s accelerating this movement towards the digital economy and increasingly traditional businesses are having to reinvent themselves and move increasingly into the digital um domain so I suspect that more and more businesses will qualify but clearly you can’t under any of these routes set up a you know restaurant type business or anything like that not that anyone would want to in the ins in the current climate I’m on island as I’ve said in my other videos on the Irish route you can also come in on the critical skills permit so you don’t necessarily have to come in specifically under the start-up visa route and I think Ireland in comparison with some of the other jurisdictions I’ve mentioned tends to yield more unpredictable results in terms of the decision decisions by the committee that determines these applications and it’s not determined on the level of the incubator in Ireland as determined centrally by a committee so uh for islands you’ll want to have a think about whether you actually want to go down the start-up visa route or whether you want to go down to critical skills permit routes and particularly if you already have a business overseas and you’re setting up a branch of it in Ireland um there’s probably more straightforward ways to do that than going through the start-up visa route and on that note you can set up a traditional business in Ireland under you know a critical skills permit and there are various critical skills including uh you know web designers and that sort of thing various tech roles but it’s actually quite broad as well it includes senior managers and also as long as if you don’t fall within the critical skills list in Ireland but you do or you will be paid at least 64 000 euros then as long as you don’t fall within one of the uh excluded roles which is you know very sort of you know uh roles that are deemed to be low skilled um then you can still qualify so if you come in on that basis you would have a work permit rather than a start-up visa but you would still have the same trajectory uh so securing a stamp four visa which is the highest form of permission in Ireland at year two and then be on a five-year pathway to a permanent residence in in Ireland or the equivalent of it which is a stand for visa but at year five you’d be able to apply for uh to naturalize as an Irish citizen now there’s been recent case law in Ireland and on the citizenship and basically if you are out of the country for six weeks or more in any of the any one year of the five years that you stay there then you’ll need to account for that uh if it’s just up to six weeks the that you’re out of violent then there’s no um issue and it won’t be looked into any further but any time out of the country above that needs to be specifically justified and so it’s more restrictive in that sense than the up is for example where you only need uh to be in the up for say 185 days a year and the maximum absence is 180 days out of the of the up in each of the five years when they come to look at your uh application to naturalize as a British citizen I’ve included of course the um the up here notwithstanding of course that we exited the uh the up exited the EU but we’re still in the transitional uh arrangement period now next the next country in the EU where you can get a start-up visa that’s number seven is Finland and here the start-up must have an innovative scalable business model with market and growth potential as an international business so it’s the same idea in Finland it’s essentially you only need the business idea and a qualifying business plan you don’t necessarily have to have a minimum viable product but if you uh this could contrast with some of the ones I’ve got coming up so for Estonia there’s more detailed uh requirements this number eight so the start-up visa for Estonia must demonstrate a scalable business model there must be at least one minimum viable product or prototype as the expert committee does not assess products or companies at the idea stage so that’s the difference you can have something at the idea stage for any of the other jurisdictions I’ve just reviewed the committee assessing whether the business is as growth potential so it assesses whether the business has growth potential whether the business model is innovative and replicable so that’s more to do with a competition analysis and added value for the Estonian business environment and I think that is something which if it’s not expressly stated is implicitly stated or implicitly required by the other jurisdictions that I’ve reviewed in other words you’ve got to have a reason business reason for going there therefore as a minimum there’s got to be some market analysis of the local jurisdiction you can’t purely be servicing non-domestic markets the uh the ninth uh start-up visa option you have in the EU is for the Netherlands so this service or product here must be and that’s assessed on the basis of three aspects of which at least one aspect must be applicable so number one the product or service must be new to the Netherlands number two new technology has been used in its production distribution and marketing and three there is an innovative organizational structure and working method so you’ve got to have at least one of these so either the product or service is new to the Netherlands or new technology has been used in its production distributing distribution and marketing so I would include in that new technology new software technology or three there is an innovative organizational structure and working method so in most cases within for the Netherlands it would it’s likely to be easiest to show that the product or service is new or different and then again there’s a question of materiality where whether um something is completely new I would say that under uh all of these um there’s no requirement for your business to be completely unprecedented on the contrary it’s you’ve got to be operating within the innovation economy and the requirement here the product or service must be new for the Netherlands that reflects a broader requirement of the start-up visa regimes or broader understanding that you’re bringing something new or different to the market and the way that you would often go about identifying that is through comparing your competitors looking at the features of their products or services and then seeing what fee what features you’re offering that would that’s the new bit and that’s uh adequate and overwhelming majority of cases but then you’ve got to show that there’s a market that need for that additional feature of your service or product the next jurisdiction next option for you for a start-up visa in the EU as a pathway to a second passport and uh and business opportunities is Italy so the innovative aspect of the business is determined in Italy according to the presence of at least one of the following criteria research and development and innovation spend is at least 15 percent of annual costs or turnover newly established start-ups that have not filed their first accounts must provide a forecast of r d expenditure and that’s um something that my clients will often do particularly in relation to r d if they if you they have a software development cycle for example then what’s the spend going to be at each stage for example in building an app if it is an app then in the user testing of that app and then in the production of the you know of the beta model product alternatively that you’re going to employ highly uh qualified personnel at least one-third PhD holders or students or researchers or at least two-thirds masters graduates so for most people that wouldn’t apply or lastly you’re the owner or licensee of a registered patent or owner of a registered software so most um software I can’t be patented and therefore it’s a question of registering a design and registering a design is usually a much more straightforward process than uh registering a patent the 11th option for you for the EU for a start-up visa is Cyprus and Cyprus is of particular interest because um of course there’s an alternative here which may be of real interest to use the in the investor visa in in Cyprus and that this offers a true citizenship by investment program as opposed to residency by investment um but it has a true citizenship by investment program and I have made some detailed content on this channel about the Cyprus regime and also about the tax uh tax planning around Cyprus but there you would you would be investing over 2 million in in real estate and donate and donations government donations now for some that sort of investment is acceptable but with increasingly volatile real estate markets if you do have a business and you’re an entrepreneur you’re operating in the digital economy then this may be a much more affordable option for you and much more effective option now the enterprise must be innovative to be considered as innovative the enterprise’s research and development costs must represent at least 10 percent of its operating costs in at least one of the three years preceding the submission of the application as certified by an external auditor so what you can see here then is that there’s a requirement for you to have or already had your business up and running which is not a requirement of many of the other options that I’ve just outlined but here first for Cyprus you do need to have had your business up and running that’s Cyprus the 12th option for a start-up visa in the EU Spain now here the innovative activity must demonstrate added value for the Spanish economy innovation and investment opportunities although not mandatory job creation is also considered and Spain has had some of the highest number of applicants for its start-up visa and it has been a very uh very successful program again like these other programs you need to show why Spain and what value you’re going to be adding locally not you know not just servicing international markets and again I’ve done these really in order of difficulty or the higher of the height of the thresholds required but Lithuania so start-up activities here for the Lithuanian start-up visa must be related to the introduction of new technologies or other innovations that are significant to the economy and social development of Lithuania and should have a potential for scaling up certain industries specifically mentioned include biotechnology nanotechnology information technology mechatronics electronics financial technology and laser technology um I do have clients who are doing fintech uh businesses um but fintech is obvious is sometimes actually quite straightforward like a payment transfer software’s and that sort of that sort of thing um but this stands towards the more difficult end of the start-up visa spectrum within the EU so I hope that’s a helpful uh review of the start-up visa regimes there are also other options for securing um you know a pathway to a second passport as well as advancing your business opportunities within the EU and I’m going to be reviewing them as part of this series feel free to subscribe and click the notification bell and you can also contact me get in touch with me for a free consultation you can WhatsApp me or for a legal advice an assistant you can drop me an email at the email address which is listed below I’m also going to drop a link into course to my courses around this subject so you can review them thanks very much and bye for now you

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