Estonia has come out with a new scheme, which will welcome non-European Union nationals to arrive and work for startups or shift their existing startups or to set up new ones in this country on preferential terms.
Mari Vavulski, an initiator of this new initiative and Startup Estonia’s head, an initiative of the Estonian government started with the mission of powering this North European country’s startup scheme, was quoted by Estonian World as saying that the Estonian startup visa program is different from the others as it offers preferential terms for procuring a permit or a visa or for entrepreneurs of startups wanting to establish or shift their company to Estonia and also employees wishing to work in this country’s startups.
He added that it also offers the choice to live there for a maximum period of five years with a temporary residence permit as well as for staying there on a visa on a short term. Vavulski added that he hoped that novel startup visa initiative would promote startups in Estonia and enable the hiring of more migrant employees, which would contribute new talent to the community.
To be eligible for the startup visa’s preferential terms, startups must complete an application, explaining in detail about their business and team. Later, this will be assessed by a totally committed startup committee, comprising members of the startup community of Estonia.
If a team gets a go-ahead, its founders will have the option of choosing to apply for a visa of one year with the choice of extending it for one more year or a startup entrepreneurship visa for five years.
For startups that take part in Tallinn-based Startup Wise Guys Business Tech accelerator or the Tartu-based Buildit Hardware Accelerator programmes, a fast-track process available is in place for which they do not need to go via the startup committee assessment, but, in fact, allows them to go ahead and apply for a visa or a permit.
Aleksander Tõnnisson, the CEO of the Buildit Hardware Accelerator, said that they had startups from more than 15 different nations which were relocating to the country in the Baltic region of Europe from their 36 portfolio companies.
He added that though it was very easy for migrants from outside of the Schengen region to float a startup in Estonia, it was unusually tough to obtain a work or living permit.
With this new startup visa, foreign startup founders, however, would be able to launch their enterprises in Estonia without having to worry about their immigration status. It was also an important move in making Estonia more encouraging for talent from all over the world, said Tõnnisson.
If you are looking to migrate to Estonia, contact Y-Axis, India’s leading immigration consultancy company, to apply for a visa from one of its several offices located all over the country.