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IMPACT – MEDIUM
What is the change? The Dutch government is preparing to introduce a pilot program that will help startups employ high-skilled workers from outside the European Union.
What does the change mean? The program will help startups hire non-EU workers who are unable to qualify for residence permits under the Highly Skilled Migrant (HSM) program’s salary thresholds and who do not hold enough company shares to qualify for a startup residence permit.
Additional information: The HSM program is an attractive option for many businesses, but startup companies are sometimes unable to meet the program’s salary requirements. This is in part because startups often compensate employees with a relatively low base salary in combination with shares in the company. The existing startup residence permits are an option for some non-EU workers, but only those who have significant shares in the company where they are working.
The pilot program is being developed to address this challenge. Some of the key points of the program are as follows:
Analysis & Comments: The planned pilot indicates that the government is increasingly focused on the growth and development of startup companies in the Netherlands. It is designed to help startups attract international talent that might otherwise be unable to qualify for a residence permit. Startup organizations are encouraged to consider pay and employee participation plans so that they are prepared to hire high-skilled non-EU workers once the pilot starts.
Source: Deloitte LLP. Deloitte LLP is a limited liability partnership registered in England and Wales with registered number OC303675 and its registered office at 1 New Street Square, London EC4A 3HQ, United Kingdom.
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