Canadian start-up method and the retirees’ residence in Europe
Let’s introduce the Canadian start-ups and retirees living in Europe before comparing them:
- Canadian Start-up:
One way to get a Canadian residency is to start a start-up or a new and innovative business. A new business has never been operated in Canada or is not available in Canada at the moment. The applicant must present a new idea with a business plan. Canadian government-approved organizations must approve the applicant’s business plan, and these organizations must show that they are going to support and invest in that project. After that, the Canadian Government will issue a visa to the applicant if it is possible. The start-up applicants can obtain permanent residency from the moment they enter Canada.
- Retirement residence in Europe:
Retirees can live in some European countries. This residence is for people with sufficient financial viability and income and does not intend to work in the destination country. The retirement residency in some countries is initially issued for one or two years and can be converted to permanent residency after at least five years. This residence does not allow the applicants to work, do any kind of activity, or trading in most countries. Retirees can live in European countries, including Italy, Spain, Portugal, Greece, Austria, France, and Switzerland, each of which has different conditions for obtaining this residence.
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Capital requirements for Canadian start-ups and retirees living in Europe
The retirement accommodation methods do not require investment and can only be obtained by showing financial viability and income. However, in the Canadian start-up method, the applicant must pay for the business plan and receive approval and support from the relevant organizations. Since the relevant organizations support and invest in the business plan, there is no need for the applicant to invest in most cases. As a result, the costs for applicants in both residences are not much different from each other. Therefore, the applicants must consider the conditions after receiving their residency in both immigration methods and then choose their path by examining this residence from different angles.
Comparison of age requirements in Canadian start-ups and retirees living in Europe
The Canadian start-up applicants and retirees living in Europe should be divided into two categories: older people who are in the retirement stage and people who are younger and do not retire. Retired people usually do not intend to work or do business when they emigrate, and they can live by receiving a pension. The retirees’ accommodation in Europe is more suitable for such a person who does not intend to engage in economic activity. On the other hand, people who are far away from retirement must earn money, and they plan to support themselves with working or doing business after migrating. Such a person is not suitable for retirement residence because most of these residences cannot work and engage in economic activities. However, start-up residences allow a person to work, invest, and receive income. Therefore, Canadian start-up residence is more suitable for them.
Comparison of work permits and investments in Canadian start-ups and retirees living in Europe
Almost all retirement visas do not enable you to work. However, a Canadian start-up residence allows you to work and do business. Even people who have income from a business in their home country and intend to live in Europe often have to pay taxes. Otherwise, they may face big problems. The start-up residence applicants can get a job as an employer after obtaining permanent residency in Canada, and their spouses can work full time in this country. On the other hand, the applicants and their spouses cannot work in a retirement residence in European countries. It is a big difference between European self-supporting and Canadian start-ups.
Compering freedom of travel in Canadian start-ups and retirees living in Europe
People who receive retirement residency from European countries have a kind of Schengen area residence and can travel to all countries in the Schengen area without a visa. Self-supporting residence in Europe is the best option for those who want to explore different parts of Europe and visit many countries. However, it is not the same for a Canadian start-up, and the applicant needs a visa to enter other countries. The retirement residence has more advantages than the Canadian start-up residence in this matter.
Are living conditions in Europe more comfortable than in Canada?
We must know about the living conditions for Canadian start-up applicants and retirees living in Europe to compare them. Indigenous language and climate are some of the critical issues before choosing an immigration method. The European continent, also known as the Green Continent, has a great variety of climates and you can live in the best parts of the world with a suitable environment. However, the conditions are not the same in Canada, and there are pretty tough and long winters with very short summers in many Canadian states. On the other hand, the applicants can experience a four-season climate in European countries like Austria, France, Portugal, Spain, Italy, Greece, and Switzerland that may not be found in Canada. Each of the European countries has its native language. For example, if you want to start a business or invest in Europe, you must know the destination country’s native language to work and develop your business. However, you must only learn English in Canada. It is a much simpler language than European languages such as German, French, etc. Therefore, Europe has climate privileges, and Canada has English language privileges.
Obtaining permanent residence and citizenship in the Canadian start-up and the retirement residence in Europe
The retirement permanent residence applicants in Europe will initially receive a temporary residence for one or two years, becomes permanent residence after at least five years of living in the destination country. Then, the applicant must provide the requirements to obtain citizenship, which are learning:
- The native language
- History
- Culture
- Laws of the destination country
However, a person with a start-up residency in Canada can receive permanent residency from the beginning. So, a Canadian start-up residency applicant will become a permanent resident five years earlier than a retiree in Europe. The permanent residence must prove that they have lived in Canada for at least three years in the last five years to obtain Canadian citizenship. The applicants must have English language knowledge, which is much simpler than European languages. So, you can apply for Canadian citizenship three years after entering Canada, and you can apply for European citizenship after at least six years (after 12 years in some countries.)
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