The Estonian Startup Visa
During the three years of its existence, about 1,000 applicants received an Estonian startup visa. It became the best indicator in the EU among similar programs. The popularity of starting a business in Estonia is explained by a few words: simple, fast, profitable. The main thing is to convince the Commission that your project is worthwhile. At the end you a residence permit in Estonia for up to five years, the opportunity to move with your family, get financial and organizational support from local funds and apply for citizenship in eight years.
Program's details
- No investments there are no requirements for minimum investments
- Fast reception the entire process takes no more than three months
- Commission approval you must submit the project for review
- Financial support from the local investment funds
- Innovtion development the focus is on high technology projects
- Project prototype you need a company registered in Estonia and an MVP
- Long-term residence permit up to 5 years
- Citizenship after 8 years
The official website of the program
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About the Program
The Startup Estonia program started in 2017. The initiative is aimed at attracting both businessmen from countries outside the EU who want to start a business in Europe, and local companies that want to hire foreign specialists. The startup visa is aimed at those who plan to develop a business in the field of bio-, nano-, laser, information technologies and electronics.
Since 2019, the Estonian startup program has been adjusted: to apply for a residence permit, you must have an MVP (minimum viable product) or at least its prototype. The acceptance of applications based on ideas has stopped.
If the project is approved by the Committee, the applicant receives a residence permit for a period of one to five years (depending on the applicant's profile and financial data). In the case of an annual residence permit, the permit can be renewed every year, if the controlling organization sees that the project is developing successfully.
Conditions for Issuing a Startup Visa
- Business
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- Approval of the application from the Startup Committee in Estonia.
- A registered company. Otherwise, at the first stage, the applicant receives a visa for 3-12 months, and after registering a business in Estonia, applies for a residence permit.
- Availability of an innovative, technological and scalable product with high development potential.
- Capital and housing
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- Confirmation that the applicant has a place to live in Estonia (own housing or a long-term lease agreement).
- Bank statement confirming the minimum income for living in Estonia: €140 per month or €1,680 per year per person.
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Requirements for Applicants
An application for an Estonian startup visa can be submitted by a citizen of any country over the age of 18, if there is an innovative high-tech project that has prospects for development and expansion.
In case of a positive decision of the Committee, the applicant has the right to apply for a residence permit for family members and other project participants.
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Documents
To apply to the Ministry of Economy:
- CV of the applicant and project partners.
- Information about the company: activity, size of the charter capital, a website, a business development plan for the next five years.
- Detailed information about the project team with links to business social networks.
- Expectations for revenue and expenses, growth rates and sales growth.
- Product information: availability stage, promotion channels, competitors, metrics, performance.
Documents for obtaining a residence permit:
- A completed application with a verification code (approval) from the Startup Committee of the Ministry of Economy.
- Housing lease agreement or documents for an apartment in Estonia.
- Bank statement confirming sufficient funds to live in the country.
- Health insurance.
- Receipt for payment of state duty.
- Document on registration of company in Estonia.
- Photocopy of the passport.
Additional Expenses
- Administrative fees
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State fee for obtaining a residence permit: €160 if the documents are submitted on the territory of Estonia, €180 through a representative office of another country.
State fee for opening a company in Estonia: in person - €145, with an e-Resident card - €190.
Services of a notary registering a company - from €100.
- Legal services
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Legal support, preparation of a business plan based on current requirements and already issued permits, advice on opening and running a company in Estonia: from €1,000.
- Other expenses
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Health insurance with coverage from €30,000 for Estonia and the Schengen countries - from €200.
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Rights and Obligations
- Test the project before submitting an application on a special page of the official website.
- Apply for an E-Residency card. Make it have the right to tax residents of any country, the processing time is 2-6 weeks. The owner gets access to more than 4,000 government services, including those for running and starting a business.
- When registering a company (OY), do not pay the authorized capital of €2,500 immediately, but pay this amount within three years.
- Count on the organizational and material support of the Estonian Development Fund and Enterprise Estonia.
- Apply for a residence permit only after opening a company in Estonia. If the company is not yet registered, the applicant has the right to get a startup visa for a period of 3-12 months, and after registration of the business – the right to apply for a residence permit.
- Apply for a visa for a period of 3-12 months for employees of the company.
- Apply for Estonian citizenship after eight years of official residence in the country.
