Residence permit, permanent residence, citizenship: similarities and differences of statuses, features, current programs

2023-11-10
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Introduction

In present article such concepts of statuses as residence permit, permanent residence and citizenship will be considered, and a comparative analysis will be conducted. We will analyze what characteristic features unite them and what distinctions they have, and advantages of each status. In addition, the program of economic citizenship and golden visas will be examined separately.

Also, the current up-to-date programs to obtain passports or residence permits will be covered. We will provide you with all necessary information on the key advantages of the up-to-date programs.

Residence permit

In general, residence permit, permanent residence and citizenship are statuses that represent the legal basis for a person's living in a particular state. When having a certain status, you can stay temporarily or permanently and have the opportunity to use social insurance.

A residence permit is distinguished by its temporary condition: normally it is given for 1-2 years. It needs to be updated regularly so that it does not lose its validity. In general, the grounds are educational, for work, business reasons, marriage, and some others. Thus, this status restricts the activity of a person within the framework of a specifically designated goal.

In addition to these, the widespread reason for obtaining a residence permit, is a program for obtaining it by investments into the state’s economy.

So, with a residence permit, you can live in the country, purchase property there, cross the borders unlimitedly, conduct business, attend various educational institutions of the country, access a range of medical services, get driving license, travel without visas to some countries.
Permanent residence

Permanent residence can be gotten strictly after a residence permit. Permanent residence is characterized by the possibility of permanent living in the country for a long or even unlimited time. It is the final stage before acquiring the citizen status.

The distinction between permanent residence and a residence permit lies in rights, obligations, which make up a person’s status within a state. Permanent residence extends them significantly. An individual literally enjoys all rights in the state, but can’t vote. Moreover, a person does not have the opportunity to be a civil servant.

Citizenship

This status that allows an individual to maintain close legal relations with the state.

After obtaining citizenship, a person becomes a part of society. A citizen can vote and hold public office. It also opens the possibility of obtaining citizenship for spouses, children under the age of majority, dependents.

However, such an organic connection with the state also imposes a range of duties a person must comply with in accordance with the Constitution.

Comparative characteristics of statuses

Status Differences Rights
Residence permit Temporary status There is a number of specific reasons: work, study, entrepreneurship, etc. The rights usually include: residing for several years; coming and going at any time; purchasing, renting real estate; getting medical insurance; enrolling a child in a university or school; opening a bank account having favorable conditions for visiting other countries
Permanent residence Permanent or unlimited status All rights except electoral right
Citizenship No time limitations Enjoyment of all the rights and performance of the duties reflected in the Constitution

Economic citizenship programs and golden visas

In a number of states, you can immediately obtain citizenship, bypassing the previous points in the chain. Such an accelerated format is relevant for people who have made investments in the state economy, for example, for those who have purchased real estate or contributed to the state fund.

This format has a number of advantages:

  • it speeds up the process to several months instead of 6-12 months;
  • basically, there are no language and culture proficiency exams;
  • this option offers a significantly smaller number of mandatory days of residing calculated per year;
  • provides tax benefits.

"Golden" visa

This is a collective name referring to the relevant programs for obtaining a residence permit or permanent residence for investment.

The conditions of such a residence permit have significant differences from the usual one. It is gained for investment, after Due Diligence verification. While it is valid, you can stay unrestrictedly. Generally minimum number of days per year is extremely small, about 7 days. One should extend the residence permit with a certain frequency.

Golden residence permit of Hungary

Benefits:

  • visa-free entry applies to the Schengen area, the UK, Singapore and Hong Kong;
  • entry, stay and opening of business in all countries of the Schengen Agreement (26 European states);
  • social guarantees;
  • free education;
  • the processing period amounts to 2 months.

The program is implemented by having bought real estate from € 155,000.

Gold residence permit of Switzerland

Advantages:

  • live and move within the EU;
  • start a company in Switzerland;
  • set up a bank account;
  • the applicant is not subject to taxation;
  • the possibility of receiving higher education;
  • the opportunity to apply for a residence permit for public relations employees in 2-3 years.

Pricing is from €130,000.

Options for gold residency in the UAE

  • Golden investor visa (10 years) through buying real estate from 2 million dirhams UAE (registration time - from 1.5 weeks).
  • Investor visa (2 years) through the purchase of real estate worth from 750,000 dirhams of the UAE (registration time - from 1.5 weeks).
  • Resident visa (for 2 years) through the opening of a company from 11,000 dollars (registration time - from 3 days).
  • Resident visa (for 2 years) through employment from $ 5,000 (registration time - from 3 days).

You can get more acquainted with the UAE program

"Golden" passport

This is a passport that an individual receives for investing in the economy of the state.
Current programs – the passports of Vanuatu and Turkey.

Golden Passport of Vanuatu

The Republic of Vanuatu is an island state located in the southwest Pacific Ocean, on 83 islands of the New Hebrides archipelago.
It is the quickest way to get a Vanuatu passport.

Advantages of a Vanuatu passport:

  • relatively fast registration (on average - 2-3 months);
  • visa-free visits to more than 96 states, including Singapore, Hong Kong, Russia;
  • E-visa to Australia;
  • the validity of the passport is 10 years;
  • you can get tourist visa to the USA for up to 5 years;
  • no proof of income;
  • all the process is remote;
  • no language test required;
  • no job interviews and any other interviews;
  • no tax on global income;
  • with a Vanuatu passport, you can open an account in European banks;
  • favorable business environment: international companies are exempt from any tax for the first 20 years and pay only an annual fee of $300.

Condition: gratuitous investments in the state fund. The cost starts from €80,000 per applicant.

The ultimate sum of money is up to the number of family members indicated.

Golden Passport of Turkey

Turkey is situated partly in the southwestern part of Asia, partly in southern Europe. It is washed by the Mediterranean, Aegean, Black and Marmara Seas. It has a strategic location, as it is at the crossroads of very important roads that connect Europe with Asia. The Eurasian business market is located nearby. Turkey has borders with many countries, which gives new opportunities for lucky entrepreneurship and commercial development. It is a great combination of work and life at the seaside.

Real estate in Turkey has significantly risen in price over the past year. Still, it is gaining popularity among investors seeking a profitable place to invest, as well as among those considering obtaining citizenship through investment.

Advantages of a Turkish passport:

  • no visa to Singapore and Hong Kong;
  • all family members are subject to this program;
  • apply for an E2 investor visa;
  • access to a wide range of banking services;
  • terms - from 6 months.

The condition for acquiring citizenship is an investment of $400,000 into real estate.

Conclusion

The article describes the comparative characteristics of various statuses, the current programs for obtaining economic citizenship and golden visas.
Without the appropriate education and international legal experience, selecting the right status and program can cause some difficulties. We will help you to choose an appropriate option of obtaining a residence permit or passport through investment. We guarantee assistance at all stages of the process.

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Citizenship programs

All programs
Grenada Grenada
Grenada
from $150,000
3-6 months
Obtaining Grenadian Citizenship by investment program grants the right to live and work in Grenada at all times, the right to vote in elections and all rights associated with membership of the Caribbean Community (CARICOM).
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Turkey Turkey
Turkey
from $400,000
4-6 months
Cosmopolitans can get a second citizenship for investing in the country's economy from $400,000. There are five options to choose from: buying real estate, investment fund shares or government bonds, participating in the fixed capital of a Turkish company, opening a deposit in a Turkish bank.
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UAE UAE
UAE
from $15,000
2+ weeks
Majestic skyscrapers, luxury hotels and shops, beaches and summer all year round. Building a business career in the UAE is prestigious.
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