What is it about?
The many EU Member States are very interested in attracting and retaining foreign founders in hopes of spurring local economic growth. They are trying to stand out by offering a wide variety of incentives, from sponsorship and tax breaks to quick visas for startup founders.
This Toolkit #7 focuses on measures to attract and analyze the factors that retain foreign founders. Based on that, we have summarized some important information and requirements that foreign founders should be aware of to start a business in the EU.
1. What minimum requirements does your business need to receive the incentives for a startup in the EU?
Here are a few key requirements:
– New business established, registered, or headquartered in EU
– Financial requirements such as a minimum investment of € 50,000 in the UK. Either in France and the Netherlands, your business must prove to have the resources to achieve business goals or for the startup to sustain itself.
– Requirements for a business model
2. Apply for a visa or residence permit.
Tables 3, 4, and 5 in the paper will give you detailed information for each EU country on the following topics:
– Visa/residence permit approval period
– Validity period.
– List of countries that allow startup founders to pick up their family.
3. The top reasons why startups choose a specific European city?
Some of the factors listed in the paper include growth opportunities to unicorn, fundraising, cost of living, …
4. Which factors make a startup founder choose one country over the other?
For example information about the local system, tax system, labor law, or how well the locals speak English? etc …
5. Top 20 global Startup ecosystem rankings.
Who is it for?
This guide is intended for migrants, who need important information to prepare for a business in the EU.
European Migration Network (2018). Attracting and retaining foreign startup founders – EMN Inform. Brussels: European Migration Network.
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The Serie “Step to Step to become an Entrepreneur“ will give you clear, concise information to make smart business decisions. The goal of the series is to share information, experiences about the dynamic, exciting business community.
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