Permanent residency is a visa status that allows the bearer of the PR card to legally reside in the host country without being a citizen of that country. Permanent residents are entitled to live, work, go to school and access health care in the host country. However, they are not typically entitled to vote or run for office.
In order to be eligible to apply for permanent residency status in any given country, individuals usually have to meet certain requirements, such as having work experience in the country, having studied in the country and speaking the language. Since 1986 investment has been another way to gain permanent residency. PR status can also lead to citizenship by naturalization provided the resident has lived in the country for a certain number of years.
Residency by investment is the process of obtaining a permanent residency card in another country by investing in the economy of that country. PR status is then conferred at an accelerated rate compared to traditional applications.
There are many reasons to invest in a permanent residency, from personal safety to increased global mobility. Permanent residency opens up a world of possibilities to high net worth investors.
Permanent residency in a stable, peaceful country can be life-saving in the event of any kind of political unrest in one’s home country. This type of insurance is priceless for investors and their families.
Many passports are quite restrictive in their visa-free mobility, forcing citizens to obtain visas whenever they need to travel abroad. Permanent residency can offer individuals from these countries increased global mobility. For example, the passport of china allows visa-free entry into only 58 countries, whereas permanent residency in Portugal allows uninhibited travel throughout the Schengen zone, which comprises 26 European states. The difference in global mobility equals an incredible amount of time saved filing visa applications and is priceless to businesspeople the world over. See our passport index for the visa-free score of every passport in the world.
New business opportunities open up to participants in residency by investment programs as they can now do business in the host country as well as travel abroad more freely..
Permanent residency may prove advantageous for tax optimization purposes. For example, Bulgaria has one of the lowest income tax rates in Europe. This allows investors to manage their wealth more efficiently and effectively.
Most residency by investment programs are available to the family members of the main applicant. This means that investors can secure a better future for their spouse and children. PR status offers access to world-class health care, education and an improved lifestyle.
Education is the foundation of a successful life as a global citizen. Investing in a permanent residency can open up access to the best schools in the world for applicants and their children by qualifying them for domestic rather than international tuition fees.
Many countries offer residency by investment programs in order to attract much-needed foreign direct investment. Countries can then use these funds to invest in their own economic or cultural projects.
For example, applicants to Portugal may invest in art restoration projects, research activities and more. Investors may also take advantage of Rove’s Qualified Offer to invest in the rehabilitation of an 18th century Palatial House in the city of Porto.