Over the years, we’ve had plenty of established entrepreneurs looking to expand their businesses or develop their passport Plan B by getting an EU residence.
Tax reduction remains a major reason for moving to another country. Yet, some entrepreneurs prefer to pay some tax in order to have access to better talent and a higher quality of life, such as that offered in EU countries. There’s nothing wrong with either approach.
By reducing your taxes, you have extra income to invest in various ventures. On the other hand, if you’re looking for talent, free movement across various countries, and benefit from a legal and social system that supports entrepreneurship at the cost of having to pay some taxes, then that’s a great deal, too. It depends on what you’re looking for and what offer seems more appealing.
And that’s exactly what we’re here for. At Nomad Capitalist, we’re here to ensure that you get the best deal possible. Whether you’re eying one EU country in particular or are looking for ways to get EU citizenship in the future, we’re here to guide you through the process.
It is becoming more challenging to get approved for an entrepreneur visa. Don’t hesitate any longer. Apply to become a client today to work with the world’s most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship.
Starting A Business In The EU as A Serious Entrepreneur
What makes Nomad Capitalist different from other companies in the industry is that we’ve got personal experience with different investment opportunities all over the world. So, our team understands what it takes to add businesses in different countries, get second residence permits, which lead to second citizenship, and more.
Now, we understand that every country has different regulations for starting businesses. Some countries just want foreigners to set up any kind of business so that there’s employment for locals. However, some countries aren’t that foreigner-friendly.
There’s no doubt that there’s increased employment due to more businesses set up, but they’re more particular about the kind of businesses that come in. For example, if you own a chain of restaurants, you won’t be able to start a business in some developed countries in Western Europe.
If you were to go to the UAE or the Caymans with any sort of business, you could easily do this. But developed countries aren’t that easy to get into.
In fact, there are some parts of the European Union, and this is especially true for English-speaking countries, where even an recognized company wouldn’t be able to establish itself due to the restrictive nature of the visa application process of the host country.
So, let us tell you more about these countries where you can start a business and obtain an EU residence permit.
5 Best EU Residence Permit Programs For Serious Entrepreneurs
Establishing a business in an EU country is one of the best ways to get EU residence. If you play your cards right and are willing to put in five years or more, depending on your chosen country, you can even become an EU national.
With this in mind, let’s look at some of the best EU residence permit programs out there for more established entrepreneurs looking to expand their horizons.
On the top of our list is the United Kingdom. Many American entrepreneurs prefer getting a residence permit in the UK due to the similarities in lifestyle. This is especially true from a second passport perspective if you want UK citizenship.
In the past, the UK had something called the Tier One visa, which had three routes for investors, innovators, and start-ups. Now, the UK has tightened its rules and created the Innovator Visa. To be eligible, you must establish an innovative business in the United Kingdom and invest at least £50,000.
What we’ve learned from people we work with and who live there is that the United Kingdom is essentially looking for the next Facebook or the next BioNTech. They essentially want a business they can point to and say, “Aren’t we glad they’re here?”
So, with standards like this, you can’t bring in a company that makes a million pounds a year. You’ll need to prove that you have immense market potential in addition to that.
Following the UK’s lead, we have Ireland with a similar approach. However, in Ireland, you won’t need to go through a local organization or get a vote of approval.
Ireland has some great tax incentives for companies. Ireland looks for very innovative businesses with high profitability and, most importantly, a lot of growth.
They don’t care about how much profit you’re making because they don’t plan to tax you a lot for it. But they do want a business that will definitely stand out and do great.
The best way to secure a residence permit for entrepreneurs in Ireland is to go through the Ireland Immigrant Investor Program (IIP). The IIP gives you the opportunity to invest between €500,000 – €2 million into an enterprise. There is also the Start-up Entrepreneur Programme (STEP), designed specifically for high-potential start-ups, capable of creating 10 jobs in Ireland and achieving €1 million in sales.
This could very well be your own business, but you’re going to have to ensure that your business plan is great.
You need to show them that you can bring in high-paying jobs, that your idea is unique, that it’s something you’ve put thought into, and that it has long-term growth potential. Granted, the easier route would be to simply invest in another enterprise.
However, these options may be lacking. It would be better just to start your own business or utilize the opportunity to donate to a charitable organization to get your EU residence permit.
Next up on our list is France. France has a “talent passport,” which is generally more flexible than the UK and Ireland. As we move towards mainland Europe, you will find that there are plenty of more straightforward options available.
The most renowned program is obviously the Golden Visa options offered to investors and entrepreneurs. Many EU countries like Spain are part of the Golden Visa program. As is the case with Spain, you could use such an EU residence program as an eventual pathway towards a Spanish passport.
This will, obviously, take at least five years, but it’s something worth looking into if you plan on staying in Europe for long.
However, it is worth noting that France is not part of the Golden Visa program. Granted, the French government could introduce one tomorrow, but it’s unlikely because we haven’t seen much interest in moving to France.
After all, you don’t really hear someone say, “I want to start a business in France.” It’s just not something that happens often. But they have something for you if you’re interested.
What Do You Need To Obtain A Residence Permit In France?
Generally, France isn’t as concerned with the innovation aspect of business as the UK and Ireland. They want you to contribute €300,000 and basically prove that your business will bring in jobs.
France is most concerned about creating jobs. They don’t have the best taxes, but since it is an EU member state, there’s a lot you can do if you obtain a residence permit there and, by extension, in the EU.
Another great EU residence program to consider is Belgium’s.
Belgium has a very interesting residence permit program. First, there’s no hard limit to how little or how much your business has to make. Belgium is more concerned about businesses that will work in Belgium.
Most people assume that because the European Parliament is in Belgium, the country is extremely globalized, but that couldn’t be further from the truth.
Belgium likes to keep things local, and the presence of the European Commission does little to change that. So, if you have a business idea and you think it will benefit the Belgian economy, no matter how big or small it is, you can essentially get a residence permit there.
This means that there are plenty of opportunities for everyone. Some people we work with are third-country nationals, which makes getting an American or even UK entrepreneur visa difficult.
But if you’ve got the capital and are interested in starting a business in an EU country, Belgium will work for you. In fact, you can get a permanent residence permit very easily, leading to eventual EU citizenship.
The Belgian residence permit program is probably one of the easier EU residence permit programs.
Lastly, we have Portugal. First, it was announced that the Portugal Golden Visa would be scrapped.
However, it looks like it will remain on the table but with significant alterations. The landscape has changed, and Portugal is no longer waiting for outside investment.
The Portuguese property market has recovered over the past few years. The new investment option has undergone a massive overhaul, and applying for a via the real estate route is no longer possible. However, the following investment options are on offer:
- Job Creation (10 jobs)
- Venture Capital Fund Investment (€500,000+)
- Research Funding (€500,000+)
- Cultural Heritage Support Investing (€250,000+)
- Commercial Company Investment (€500,000+)
You can go down the job creation route to obtain the Portuguese Golden Visa, where you need to hire ten Portuguese citizens.
Of course, the question is: would you want to hire people in Portugal? It honestly depends.
But then again, Portugal is in a great geographical location, so you could employ Portuguese citizens; it all depends on your business. You can even hire EU citizens living in Portugal, and you’ve got yourself an EU residence permit.
Are The EU Residence Permit Programs Worth It?
Each of these EU residence permit programs has something to offer.
Some offer automatically renewable residence permits as long as you have a valid passport and a functional business. Others have the option of obtaining a permanent residence permit in the long run. Ireland and even Belgium have great tax incentives.
If you stay in these countries for at least five years, you may even be granted citizenship or, at the very least, a permanent residence permit.
So, on paper, these EU residence permits are great. All you need to do is make sure that you’ve got a legitimate business plan, and you can easily have your pick of these programs.
To learn more, contact our team at Nomad Capitalist today so that you can start a business and live in an EU country in the near future.
Other Residences and Citizenship Opportunities Available
There is no doubt that EU countries and their long-term residence programs are coveted by nearly every serious entrepreneur out there. However, if your business doesn’t qualify for EU residence programs, there are still many countries in the world that would happily give you a residence card.
Countries like the United Arab Emirates are very entrepreneur-friendly. Several Southeast Asian countries, like Thailand, have opened their doors to entrepreneurs. The Bulgarian citizenship by investment program is available if you’re looking for close proximity to Europe. Even South Korea has entered the game with its own residence and citizenship program. Puerto Rico has plenty of tax incentives for foreign investors.
So, if you feel like your company wouldn’t be welcome in an EU country for any number of reasons, don’t think that it’s the end. In some nations around the world, you can even get an instant residence permit or citizenship for just investing in their economy. Who knows? Perhaps starting businesses elsewhere can lead to you eventually obtaining an EU residence permit.
The opportunities are abundant. You just need to know where to find them.
So, if you want to learn more about the opportunities you can avail yourself of, contact Nomad Capitalist today. We specialize in helping seven and eight-figure entrepreneurs go where they’re treated best.
After all, there’s no point in moving to a new country if you’re not going to be treated any better than in your current one.
Are you an entrepreneur looking for access to Europe? Don’t wait for another investment opportunity is out of reach.
If you work with us, we will help you examine all the options, from legal tax reductions to establishing offshore strategies, getting residence permits, and more.