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

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Second passports in the EU (start-up visas)

There are several second passport options for the EU that do not require any investment of the level of the citizenship by investment programmes. These just require you to have a start-up, and the investment levels are minimum, if you have a qualifying business idea, or business plan. The requirements for each differ, which is what we are going to examine in this video:

Austria

The applicant must submit a plausible business plan to develop and bring to market innovative products, services, processes or technologies within the framework of a newly established undertaking. The applicant must submit documents verifying the innovative character of the business.

Cyprus

The enterprise must be innovative. To be considered as innovative the enterprise’s research and development costs must represent at least 10% of its operating costs, in at least one of the three
years preceding the submission of the application, as certified by an external auditor.

Estonia

A start-up must demonstrate a scalable business model. There must be at least one minimum viable product (MVP) or prototype, as the expert Committee does not assess products/companies at the idea stage. The Committee assesses whether the business has growth potential, whether the business model is innovative and replicable, and the added value for the Estonian business environment.

Finland

The start-up must have an innovative scalable business model with market and growth potential as an international business.

France

The start-up must obtain a certificate from the Ministry of Economy, acknowledging its innovative nature.

Ireland

The start-up must be international and innovative rather than an ordinary commercial venture seeking to service the domestic economy. The start-up must also have high potential for growth.

Italy

The innovative aspect of a business is determined according to the presence of at least one of the following criteria: research and development (R&D) and innovation spend is at least 15% of annual costs or turnover (the larger value is considered). Newly established start-ups that have not filed their first accounts must provide a forecast of R&D expenditure. Employs highly qualified personnel (at least one-third PhD holders and students or researchers, or at least two-thirds Masters’ graduates) n is the owner, depositary or licensee of a registered patent, or the owner of a registered software.

Latvia

The applicant must comply with the definition of a start-up company, namely, it produces (or plans to produce) innovative product or service, or a scalable business model is applied for the implementation. Lithuania Start-up activities must be related to the introduction of new technologies or other innovations that are significant to the economic and social development of Lithuania and should have a potential for scaling up. Certain industries specifically mentioned include, inter alia, biotechnology, nanotechnology, information technology, mechatronics, electronics, financial technology and laser technology.

The Netherlands

The service or product must be innovative which is assessed on the basis of the following three aspects, of which at least one aspect must be applicable: 1) The product or service must be new for the Netherlands; 2) New technology has been used in its production, distribution and marketing and 3) There is an innovative organisational structure and working method.

Portugal

The assessment of the start-up is based on the following criteria: innovation, growth potential, scalability, likely continuation of the company in Portugal after the programme, as well the potential for qualified job creation, turnover volume, asset value and internationalisation.

Spain

The innovative activity must demonstrate added value for the Spanish economy, innovation and investment opportunities. Although not mandatory, job creation is also considered.

United Kingdom

Each business proposal is assessed against the following criteria: innovation, viability and scalability.

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