Comparison of Canadian entrepreneurship and startup methods
Entrepreneurship in Canada and Canadian Startup Visa are two important and widely used ways to obtain permanent residency in Canada. these methods have different conditions and each of them has its advantages, in this article we will compare entrepreneurship and startups in Canada. there are huge differences between these two residency methods. These methods are also similar in some ways. There are many people who may be eligible for both ways to immigrate to Canada, but do not know how to decide and which way to go.
In the Comments section, you can also ask your questions and answer them in a short time.
Topics reviewed in this article:
Canadian startup
The Canadian startup method is actually a method of investing subsets. The applicant intends to start a business in this type of residence and shows this business in the form of a business plan. In the Canadian startup method, the applicant must show a business plan and this business pan must be innovative and new so that a plan similar to the applicant plan in Canada has not been presented and implemented. For example, a business plan could not be setting up a restaurant, a gas station and so on. This plan must be approved and supported by Canadian organizations and a support letter must be issued by these organizations for the applicant’s business plan. After this stage, the applicant can apply for permanent residence in Canada from the immigration office of Canada, and the Government of Canada after the necessary checks, will announce its response to the outcome of this application.
Canadian Entrepreneurship
Entrepreneurial residency in Canada does not have a single plan. Because this plan is different in each province of Canada. in fact, depending on your desired place of residence, you must show different conditions for receiving entrepreneurial residence and provide the prerequisites of that province. In this program, the applicant must show work experience as a top manager or introduce himself as the owner of a business. The required work experience is usually between two to four years in different provinces. The applicant must show a business plan that can also offer traditional businesses and does not need to be innovative as the startup plan. It is better to have a business plan related to business that the applicant has had sufficient experience in managing. After the applicant submits a business plan and demonstrates the necessary financial means, the Canadian government will conduct the necessary reviews and the applicant will be notified of the response to this review. If the case approved by the Government of Canada, the applicant will generally be granted a two-year residence permit, during which time the person must come to Canada to start a business. Usually after 12 to 18 months the applicant must show a report that his business plan has been beneficial and apply for permanent residence in Canada.
The difference between entrepreneurship and startups in Canada in terms of investment
In comparing entrepreneurship and startup in Canada, it should be said that in addition to investment amounts, the amount of assets should also be shown in the entrepreneurship method. In most Canadian entrepreneurship programs, the applicant must invest at least 150.000 $ or more and also generally show assets of more than 500.000$. in startup method, one does not need to show the entire asset. In general, there is not much difference between the costs of these two methods. But if there is a discussion about staying in a big city, the cost of obtaining Canadian residency through entrepreneurship and startups is different. For instance, if you want to get a residency in a city like Toronto through entrepreneurship, you have to have at least 800.000$ in assets and of that amount, you have to invest at least 600.000 in that city.
The difference between entrepreneurship and startups in Canada in terms of obtaining permanent residency
People who apply for entrepreneurship and startups in Canada ultimately aim to achieve permanent residence in Canada. it should be noted that in the entrepreneurial method in Canada, the applicant can generally receive a two-year residency after showing the business plan and obtaining approval from the Government of Canada. During this period, the person must launch a business plan and show that his plan is profitable and after this stage he can apply for permanent residence in Canada from the Canadian government. However, in the startup method, after a person submits his business plan after obtaining approval from the Canadian government. He can apply for permanent residence in Canada at the same time and enter the country with permanent residence after consent of the Canadian government. Therefore, in comparison with entrepreneurship and startup in Canada, it should be said that achieving permanent residence in the startup method is faster than the entrepreneurship method and even in the startup method, it is possible that one of the members of the startup team, who has a key role, enters Canada early and provides the initial preparations for launching the startup plan with the work permit he receives.
The difference between entrepreneurship and startups in Canada in terms of attendance
Entrepreneurial residency in Canada is actually given to the applicant for the purpose of starting a business and need to make Canada their permanent residence. Therefore, in order to succeed in business and also to show permanent intention in Canada, the applicant must observe a presence in Canada for at least 9 to 10 months per year so that he does not face any problems when applying for permanent residence. However, in case of a startup residence, since the person applying for permanent residence in Canada, he must show a two-year presence in Canada every five years in order to extend the permanent residence, and this is a big difference between these two methods. Therefore, for those who can not meet the requirements of the entrepreneurship method, it may not be a suitable way to obtain residency in Canada.
Comparing Canadian Entrepreneurship and Startups in Language Knowledge
Knowledge of the language is one of the most important conditions for obtaining Canadian residency in any way. Because in almost all procedures of immigrating to Canada, language skills are a prerequisite. In the entrepreneurship scheme, an intermediate level of language is generally required to obtain residency, and the applicant must have English skill at the CLB5 level. The point is that in a startup residence, there is the same prerequisite for the applicant’s language skills. However, in some Canadian states, the applicant can also apply for residency through entrepreneurship through the Canadian government with a lower level which is CLB4. in general, you should know that the higher the language proficiency of the applicant for residency, the more points you earn in entrepreneurship programs and the higher your chances of obtaining residency in Canada.
Comparison of Canadian Entrepreneurship and Startups in terms of applicant requirements
The conditions of the applicant are also very important when applying for a Canadian entrepreneurial visa and a Canadian startup visa. The startup program does not specify any minimum for the applicant’s age, degree and work experience. But in the entrepreneurship plan, all these factors lead to the applicant gaining points. But in contrast to the Canadian startup visa, and although there is no minimum for these factors, it is better for the applicant to show evidence as a degree related to their specialty and work history in the field of business plan that he has submitted. It is acceptable for the visa officer that the person wants to participate in a project that has a good level of work experience or training in that field.
Comparison of Canadian Entrepreneurship and Startups in terms of dependent visa
Entrepreneurship visas and startup in Canada are comparable in terms of obtaining dependent visa. In Canada, an applicant can take his spouse and children under the age of 21 with him. When you want to announce your spouse and children as companions in the entrepreneurship plan, after accepting your business plan, your children must be under 22 years old at that time, and this age will be recorded for your children until the end of the program. But in the startup visa, immediately after receiving your business plan from the relevant organizations, you can also apply for family residence, and at that time your children must be under 22 years old. In fact, in the startup method, this request can be announced sooner. So that it is better to choose a way that will not be a problem for your companions, especially children in playing your case. Canada offers the right conditions for entrepreneurs and people who have an innovative and new plan to start a startup in Canada. But a comparison of Canadian entrepreneurship and startups, which we discuss in detail in this article, found that each of these methods may be more appropriate for one person and the other design may be inappropriate for him or her. Therefore, it is recommended that you weigh the differences between the two methods before any action and consult with people experience and expertise in this field to prevent possible losses in the future.
With years of experiences in obtaining residency in the world’s top countries and thousands of successful visas, MIE Consulting has written and edited this article on comparing entrepreneurship and startup in Canada.
Leave a Reply
Want to join the discussion?Feel free to contribute!