Residence permit

• The nature of business and immigration policy is complex. There are many aspects to immigration law. If you are interested in setting up your own business abroad, or investing in an existing project or property abroad, it is important to carefully consider the immigration policies of a particular country before applying for a residence permit by investment.
• A residence permit is a document issued to a third-country national in accordance with the rules and legislation of a particular state, which allows him or her to live, work and conduct business abroad (in the chosen state) for a specified period of time. There are two types of residence permit: temporary and permanent.
• Before applying for a residence permit, it is critical to consult a specialist who will not only advise you in detail on the best options for countries to obtain a residence permit, considering your objectives, but who will also provide legal support in the area of business immigration. Below we explain the benefits and opportunities available to the holder of a residence permit, briefly outline the stages in the process of obtaining a residence permit and introduce our residence permit services.

Residency vs. citizenship

You'll probably come across the terms 'residency' or 'citizenship' a lot if you're the type of person who wants to expand your horizons internationally, and although these words are often used interchangeably, they actually mean different and somewhat contradictory things. What exactly is the difference between residency and citizenship?

As we have said, a residence permit is a document that allows you to stay in a country for a certain period of time, depending on the laws of the host country, and this document must be renewed regularly.

For example, if you have a residence permit in an EU country, you can visit other Schengen countries for up to 90 days without a visa. However, the holder of a residence permit does not have political rights in the country, such as the right to vote or to be elected to state bodies and local government. Residence by investment programmes offer the possibility of obtaining legal residence in another country in exchange for investment, and most of these programmes are located in the EU.

As for the concept of citizenship, it is the belonging to a state; unlike residents, citizens have all the rights, privileges, and responsibilities defined by the laws of that state, and these rights include the right to vote, participate in politics, receive education and healthcare services. Citizenship by investment programmes allow applicants to obtain a second passport by investing in the economy of a particular country.

How to get a residence permit abroad?

A temporary residence permit — is a permit issued to third-country nationals allowing them to stay in the country of application for a specified period of time:

1. It is usually valid for one year from the date of issue of the document.
2. It can be renewed for subsequent periods, often for two years.
3. The residence permit must be renewed whenever there is a change in identification data.

A permanent residence permit — is a permit that allows foreigners to reside in the country of application for a long period of time and has the following characteristics

1. It is not limited in time.
2. However, the right to permanent residence must be renewed in some cases every five years and whenever justified, i.e. when there is a change in identification data.

Applying for a short-term residence permit is available for:

• Foreigners for the purpose of scientific research.
• Foreigners who intend to own property.
• Foreigners who have established business or commercial relations.
• Foreigners who plan to participate in on-the-job training programmes.
• Foreigners who invest the amount determined by the regulatory authority.

The following persons can apply for a long-term residence permit

foreigners can apply for a long-term residence permit if they have lived in a particular country for a certain period of time (usually 5 to 8 years) on a temporary residence permit

Benefits and opportunities of residency

Although there are many differences between residency programmes (depending on the country you choose), most programmes offer similar benefits.

Some common benefits of residency that apply across different programmes include:

• Freedom of movement.
• Better economic prospects and the right to live, work and do business in a stable country with a thriving economy.
• Tax residency and tax optimisation.
• Participants in the investment programme who have invested in property, businesses, or bonds can get some or all of their money back after being granted permanent residency.
• Immediate family members of the applicant may be included in the application for a residence permit.
• A residence permit allows you to obtain citizenship.

The procedure for obtaining a residence permit

The application for a residence permit must be made in accordance with the procedure laid down by law in each country. Although the process can be cumbersome, it is achievable, especially if you consult a specialist.

Average list of documents required to obtain a residence permit:

1. A standard application form to be completed in the language of the country in which you wish to obtain a residence permit;
2. Original and copies of your passport;
3. Medical insurance;
4. Bank statement. Invoices or documents confirming the applicant's stable income;
5. Statement of no criminal record.

Jurisdictions where we offer residence permit services

Foreign entrepreneurs have the opportunity to open a new business or a subsidiary of an existing business and become eligible to apply for a residence permit. When it comes to immigration, there are many legal rules and regulations to consider. It is important to consider not only the immigration laws of a particular country, but also the laws of individual states or provinces. It is therefore significant to work with a lawyer who can assist you with the immigration process and ensure that your rights are protected at all times.

Legal assistance in business immigration is provided primarily for the purpose of identifying and eliminating potential risks. It is a solid protection against possible unfavourable situations in the future. Below is a list of countries in which our company's experts can assist you in obtaining a residence permit as part of an investment programme:

Business immigration is a highly specialised area of law and our firm's specialists can provide a range of business immigration advisory services.