Which is my permanent residence
Permanent residence’ is defined as:
- The place where the company of the applicant is registered, if the applicant has a registered company;
- If a company has several establishments in different EU Member States or other participating countries (Liechtenstein, Norway, the Former Yugoslav Republic of Macedonia, Iceland, Montenegro, Turkey, Albania, Serbia or Israel) the entrepreneur should choose one of the countries as permanent residence;
- The place where the applicant has spent 183 days or more in the course of the last 12 months, if the applicant does not have a registered company.
How does the selection procedure work?
- New and host entrepreneurs complete the online registration form. The entrepreneurs must equally choose an intermediary organisation in their country of residence to submit their application.
- The intermediary organisations assess the applications according to the programme assessment criteria and either accept the applications or put them on hold if further information is needed. Unsuccessful applications will be refused.
- Once accepted, entrepreneurs will be able to access the online catalogue to search for a potential business partner, with whom to start an exchange. A User Manual will be available for the accepted entrepreneurs, in order to help them through the matchmaking process.
- We recommend entrepreneurs to read the Registration Guides for host and new entrepreneurs and Users’ Guide, which contain all relevant information for the programme
Is in the business plan mandatory to apply or a brief idea of the project is sufficient?
Yes, the business plan is mandatory to participate in the programme as it is an essential part of the application that intermediary organisations evaluate when accepting new entrepreneurs. The business plan does not need to be extensive but needs to contain relevant documents to demonstrate that the new entrepreneur has invested significant efforts to set up his/her company.
What is a business plan and where can I find a template?
A business plan is a document that summarises the operational and financial objectives of one’s business, with detailed schemes and budgets to achieve the business start-up.
The Support Office does not provide a business plan template. New entrepreneurs can choose the format they like and if they encounter any difficulty, they can contact their intermediary organisation for a more information and advice.
The business plan should at least contain:
- A description of the product or services on offer;
- A market analysis including a definition of the target market and a competitor analysis;
- A financial plan for at least 3 years (foreseen financial plan) including a break-even analysis.
We encourage NEs to write a business plan of about 15-20 pages