Residence permit, permanent residence, "Golden visa": differences, features, conditions for obtaining

The difference between these statuses.

What benefits they give, in which countries and under what conditions you can get?

Often a residence permit is confused with a long-term visa, such as a work or student visa. But these documents give different rights of life in the country.

A long-term visa to a country is the right to repeatedly cross the border of this country and live in it. You cannot officially work on the basis of a student visa, because it does not imply a work permit.

On the basis of a work visa, you can work, but only in the company that was the inviting party and only for the duration of the visa.

A residence permit is a residence permit in a country for a certain period of time, usually issued to foreign citizens who wish to live and work in that country on a permanent basis.

• to do business,
• study for free in public institutions,
• get public health insurance
• get a driver's license

• travel without visas in the countries of the Schengen agreement (we are talking only about the residence permit of a European country. For example, the residence permit of the United Arab Emirates (Emirates ID) does not give the right to travel around the Schengen without visas).

Residence permit can be obtained in different ways. The most common business opening and real estate investments.

Almost every country has special conditions for investors, businessmen, scientists and highly qualified specialists.

A residence permit obtained on preferential terms for investment is often referred to as a golden visa. This definition can be confusing: a visa and a residence permit give different rights, as we wrote about above.

In terms of its rights, the “Golden Visa” is actually equated to a residence permit and gives the same rights: a work permit, the opportunity to open your own business and visa-free travel around Europe.

• In some countries, you need to pass an exam in knowledge of language and history
• Live in the country from 183

• No tax breaks
• Only family members who are financially dependent on the recipient of the residence permit can also receive this status.

• You don't have to take a language proficiency test;
• The status is obtained by the relatives of the investor, including the spouse, children under 25 years old, the parents of the investor and the parents of the spouse.

• It is not necessary to permanently reside in the country - it is enough to visit it twice a year.
• Getting tax benefits

Similar programs operate in several European countries.

The minimum investment is from 250,000 €.

Greece. The investor receives a residence permit for the purchase of real estate from 250 thousand euros. Conditions for obtaining a residence permit in Greece.

From May 2023, the minimum threshold for entering the program will increase from 250 thousand euros to 500 thousand euros in 36 municipalities of the country (that is, not everywhere) - read more here.

Portugal. Investments from 280 thousand euros (in real estate over 30 years old in sparsely populated areas). If we are talking about liquid real estate, then the amount of investments starts from 350 thousand euros. Read more here.

Spain. Investments in real estate from 500 thousand euros. It will be more efficient to establish a legal entity in Spain and purchase real estate for the company, being its founder. And then apply for a residence permit.

Montenegro. The Montenegrin citizenship program through real estate investment was closed on December 31, 2022. Now it is impossible to obtain Montenegrin citizenship through the purchase of real estate.

Foreign citizens have access to a program for obtaining a residence permit through the purchase of real estate or the opening of a law firm. There is no minimum housing cost. That is, you can buy real estate of any value and apply for a residence permit. Read more here.

It is important to recall that Montenegro is not a member of the European Union, therefore, the residence permit of this country does not allow visa-free entry to the countries of the Schengen zone.

Slovenia. The most optimal option for obtaining a residence permit in the country is business relocation. As for the possibility of obtaining a residence permit through investments, their amount is from 1 million euros. Read more here.

UAE. Investment in real estate from 750,000 dirhams (about $ 205,000). The validity of the visa is 2 years with the possibility of extension.

When buying real estate from $ 545,000 - you can apply for a resident visa immediately for 10 years. Read more here.

Turkey. You can obtain citizenship or a residence permit in Turkey through investment in real estate.

Read more here.

Permanent residence or permanent residence permit has two meanings: legal and domestic. From the point of view of the law, permanent residence is understood as a permit for permanent residence in the country for a long or even unlimited time. This is a legal status that is granted subject to certain conditions.

 At the same time, in life they often say “to leave for permanent residence in Europe”, meaning that a person will live abroad permanently and is not going to return. In this case, it is not about legal status, but rather about the intention to stay.

To obtain the right to permanently reside in the country, you first need to obtain a temporary residence permit.

After a few years, you can apply for permanent residence status: usually it can be obtained only after 3 or more years of legal and uninterrupted life in the country.

The only European countries that issue permanent residence status through investment are Cyprus (investments from 300 thousand euros) and Malta (investments from 150 thousand euros with confirmation of capital in the amount of 500 thousand euros).

The status of permanent residence in Europe gives a foreigner a maximum of rights and privileges, more than a residence permit

Term: the permit is issued for life and does not need to be confirmed every 1-2 years, as is the case with a residence permit. In Europe, permanent residence is renewed every five years;

Conditions: In order to extend a residence permit obtained through investment in real estate, this property must remain in the ownership of a foreigner. When is the permanent residence extended, regardless of whether the investor has property.