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File Name | S21-Policy-NCFCA-19-AFF-StartupVisa.docx |
File Size | 189.51 KB |
Date added | December 7, 2020 |
Category | Archived |
Tags | Debate, NCFCA, Policy, Season 21 |
Author | Vance Trefethen |
Case Summary: “Start up” companies, new ideas being put onto the market by entrepreneurs just starting out, bring new technologies and benefits to society. They also drive economic growth and create jobs. European countries know this, or at least some of them do. About half of the EU member states have “start-up visas,” which allow immigrants to enter and settle there if they are building a new business startup. Aside from half of the EU not having them, the existing startup visas are inadequate because they only apply at the individual country level. An entrepreneur getting a Spanish startup visa, for example, could only operate in Spain and could not benefit from opportunities throughout the entire EU. This fragmentation deters and reduces investment in Europe. The small EU nation of Estonia has a wildly successful startup visa program, and the EU would benefit by adopting its model as a uniform EU-wide startup visa, allowing new investors to locate anywhere and move anywhere in the EU with their new business.