It might be difficult to become a legal resident of a nation, but you can obtain a residency permit, which allows you to live and often work abroad for a predetermined amount of time. Knowing the procedures for obtaining residency permits will put you on the path to accomplishing your lifelong goals, whether you’re a student looking for educational opportunities abroad, an expat pursuing investments abroad, or a senior citizen looking to enjoy a slower pace of life in your golden years.

Read More: Residency permits for expats in Greece

The foundations of a residence permit, its importance, the sorts that are available, and the procedures for obtaining one through immigrant investor programs will all be covered in this article.

What is a permit for residence?

An immigration document known as a residency permit is granted by a nation and enables its possessor to dwell on its soil for a set amount of time, usually between one and five years, depending on the program and the nation. For a resident to remain in good legal standing, their residency permit usually has to be renewed.

You can purchase real estate, enroll your children in school, attend postsecondary institutions, and enter the nation at any time while holding a resident permit.

Visa-free travel to other countries is another benefit of residence permits in some nations and areas. For instance, an EU resident card allows for 90 days of visa-free travel every 180 days, as well as borderless transit inside the Schengen Area.

There are several types of residency permits; one that is becoming more and more well-liked is the Golden Visa, which is accepted in a number of EU nations, such as Portugal, Spain, Italy, and Greece. Programs for Golden Visas provide a special route to residence. Rather of going job hunting or enrolling in school, foreign nationals can obtain a residency visa by making investments like buying real estate, making a bank deposit, or starting a company that employs locals.

In addition to drawing people looking to start over in a new nation, this creative approach to residency permits has sparked economic growth and development in the host countries.

Permanent residency differs from citizenship in terms of residence permit

A resident permit, which is given for a predetermined amount of time, allows for a temporary stay, whereas a visiting or tourist visa just allows admission into a nation. Depending on the length of the residence permit, the stay might be temporary or permanent.

The Spain Non-Lucrative Visa is renewed every two years and grants eligibility for a one- or two-year Spanish residence visa. With Portugal’s Golden Visa, one can apply for a two-year temporary residency visa that is renewed every three years. Those who apply successfully for the UAE Golden Visa can obtain a five- to ten-year residency status.

The important thing to remember is that a residence visa only allows for a limited stay, and in order to renew their permits, residents of the nation must provide proof to the immigration authorities that they meet all the conditions.

Permanent residence

There are three methods to get permanent resident status:

An investment scheme that grants a visa for permanent residency

sponsorship via family reunion from a family member

keeping up residency and a valid residence permit for the duration required to submit an application for permanent resident status

It takes five years for citizens of EU nations like Spain, Portugal, Italy, and Cyprus to apply for permanent residence, which means you have to live there before you’re eligible. Residency requirements often involve a certain number of days spent in the nation annually or prohibiting lengthy absences abroad for the whole five-year period.

When an application is approved, permanent residency permits are obtained, which often grant access to rights and benefits that are not accessible to temporary residents. This could be:

Public health care is available, however temporary residents might need to obtain health insurance

Qualification for social assistance

Less limitations on entering and leaving the nation

By making an investment in Europe, Malta and Cyprus provide special licenses for permanent residency. Under the Cyprus Permanent Residence Program, holders are granted a five-year permanent residence visa, which they can renew forever as long as they continue to maintain their investment. They also feature 90 out of 180 days of visa-free travel inside the EU and Schengen Area.

Citizenship

The highest status one may achieve in a nation is citizenship. With citizenship, there are no restrictions on what a person may do or access that are there with a residence or permanent residency. Citizens have complete access to the political system, which includes the ability to run for public office and cast ballots in elections. In other nations, they can apply for consular assistance and apply for the country’s passport.

Additionally, they have an unrestricted right to live in the nation, and unless there are extraordinary circumstances, their status is usually unaffected. Citizens may also enjoy benefits including access to government employment or programs that are only available to them, as well as a stronger feeling of identification and connection to their chosen nation. Additionally, EU nationals are allowed to travel and live anywhere in the EU with an EU passport.