Start-up and retirement residence in Europe
We must first introduce these two methods to compare startups and retirement residence in Europe:
- Retirement residence method:
The applicant must show adequate financial viability, sufficient income, and one’s desire to live in this country. This residence is available in several European countries such as Switzerland, Portugal, Greece, Spain, Italy, France, and Austria. The applicants do not make any investment, so they will not have any income. It is initially issued for one or two years and must be extended. The applicants need to have this residence permit in most countries and must live in the destination country for at least six months a year to extend it.
- Start-up method:
The applicant must present a new and fresh business plan that is not similar to any other business plan. This method is one of the sub-branches of investment, and the applicants must invest at least between 150,000 and 200,000 dollars. This business plan may be prepared by the applicant or purchased from the relevant institutions. In some European countries, the applicants can enter Europe by a permanent residence through a start-up, and they do not need to extend their residency in some countries.
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Comparing the capital requirements of start-ups and retirees living in Europe
The applicants can obtain retirement residence by showing sufficient capital and income, and there is no need to invest. However, it does not mean that a person with low wealth can receive such residence. People who apply for start-up methods to obtain European residency must invest. Therefore, people with more capital must immigrate by investment methods such as startups. Investors must invest a minimum of 150,000 to 200,000 euros in their business plan start-up method. So, the start-up option is more suitable for people who want to receive income during migration and have enough capital to invest.
Comparison of age conditions in start-ups and retirement residence in Europe
Retirement residence is more suitable for people who do not intend to work in another country or retirees. Most people want to get retired when they are over 60. These people have enough income to live in the destination country and do not need to work and earn money. However, the start-up option is more suitable for younger people and those who want to receive money. Start-up residency applicants can get residency besides an investment. Since start-up plans are new plans, people often have almost no competitors when launching a business plan to make a lot of money.
Comparison of start-up work permits and retirement residence in Europe
The applicants must prove that they do not need to work in the destination country in the retirement residences. Therefore, the applicants must initially declare that they do not intend to work in the destination country, which is a prerequisite for obtaining this residency in most countries. On the other hand, the applicants who enter the destination country to work can use the start-up residency, in which they can work, study, and make any investment in Europe besides their business plan and earn money from other ways. In other words, a person’s start-up residences have no restrictions on work, but there is not such a thing in self-supporting residency.
Comparing the attending condition a start-up and the retirement residence in Europe
Another critical point in start-up residences is that the applicants can initially obtain permanent residency in Europe without attendance requirements. In contrast, retirement residences are not permanent residences from the beginning and usually become permanent residences after at least five years. The retirement residency applicants must have lived in the destination country for at least six months in most European countries to extend their residence permit. It is one of the main differences between startups and retirement visas. So please pay more attention to their differences if you want to choose one of them.
Comparing European citizenship in the start-up method and the retirement residence
Citizenship is one of the most critical issues for immigrants. Many people migrate to gain citizenship. Obtaining citizenship in different countries has special conditions, such as native language knowledge, knowledge of the country, culture, and history, which must be provided to obtain citizenship. The start-up method is a better way to get the destination country’s citizenship since, most of the time, a person enters Europe with permanent residence. However, it will take at least six years for retirees to obtain permanent residency because the applicants enter European countries with temporary residency.
The best European countries for retirees
As mentioned, some European countries offer retirement residences. There are many factors to consider when choosing a destination country for retirees, such as living expenses, age, security, climate, and the people’s characteristics in the destination country. Each of these countries has advantages over the other and can be suitable for specific applicants. However, the retirement residence in Austria, France, and Portugal are more popular among the applicants.
The best European countries for a start-up residence
Start-up residence is more suitable in some European countries. Startups in Portugal, the United Kingdom, Switzerland, the Netherlands, Ireland, Denmark, Germany, Finland, and Norway have more suitable conditions and are more popular among the applicants.
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