It’s one thing to move from one country to another, but it’s a different thing entirely to claim residency in a new country. While the former requires a visa majorly, you need a residence permit to live in another country for a long period. Obtaining a permit without the help of experts like Garant Immigration can be exhausting. Therefore, it’s best to involve professionals who know their onions and can help you get past the paperwork with ease.
The importance of a residence permit for an immigrant can’t be over-emphasized. It allows you to enjoy basic amenities like top health care, and may even grant you access to other countries without a visa. Although there are several ways to obtain a permit, this article will discuss the best way to go about it.
What is a Residence Permit
A residence permit is given by the immigration authorities of a particular country to allow a foreigner to live there for a long period. A residence permit may take different forms depending on the country. Different countries also have different rules guiding their residence permits. Therefore, it’s important to do your research to know the exact rules and regulations.
While some countries issue temporary residence permits which will last only for a fixed period, others issue permanent residence permits for an indefinite stay. A permit usually contains the personal information of its holder, their purpose of stay, and the permit’s validity period. While staying in that country, you’re also required to study, work, invest, or engage in different activities.
How to Get a Residence Permit
If you’re moving to France, Italy, Singapore, Germany, or the UK for example, you need to obtain a permit. Getting a residence permit is not a one-way street, and the process of getting it may differ from one country to another, therefore you need to know the specific requirements and processes for the country you’re moving to. However, below are the general steps you should know:
- Apply for a visa: Most often, applying for a long-term visa is the first step in obtaining a residence permit. This could be a work, student, or an immigrant visa.
- Submit required documents: Before you apply for the residence permit, you must have gathered all relevant documents including your valid passport, criminal record checks, proof of accommodation, health insurance, and proof of financial stability.
- Review your application: Your application must be reviewed by the immigration officers in charge. They are also in charge of conducting necessary checks. In some countries, you must be physically present for the interview.
- Approval and Issue of Residence Permit: Upon approval, you’ll be given your residence permit. Some countries may send it to you, while others will request that you get it in person.
- Renewal: If you hold a temporary residence permit, you’ll have to renew it when it expires for continued residency.
Ways to Obtain a Residence Permit
There are different ways to get a residence permit in different countries. However, some ways are more challenging than others. The major grounds for getting a permit are by starting a business, getting married to a citizen, or gaining admission into a university.
The easiest way to obtain a permit is by investment. Therefore, if you’re rich enough, you can get your residence permit by investing in the country. Many European countries issue permits to foreigners in exchange for different investments like real estate. Let’s go into more details:
Obtaining a Residence Permit by Investment
The process of obtaining residency in another country by investing in that country is known as residency by investment. To start this, you must have obtained your talent visa that allows you to invest in your country of choice. You must also meet the different requirements stated by the country. Getting a permit by investment is easier in some countries than in others, therefore do your research and choose the best country for you.
Benefits of Obtaining a Residence Permit by Investment
Among other benefits, obtaining a permit by investment helps to accelerate your permanent residency status. The following are some other benefits you can enjoy as an investor:
- Security: Getting a permanent residency as an investor in a peaceful and stable country can be a priceless investment for you and your family during any form of uncertainty in your home country.
- Business: As an investor, you have the right to participate in different business opportunities both in your new country and in some other countries as well.
- Family: You get to secure a better future for your spouse and children. They will have access to top-notch education, health care, and an improved lifestyle.
- Tax Management: As an investor, you get to manage your wealth more effectively and efficiently. However, do your research to know about the taxes in different countries. Taxes in France for example, require you to pay 12.8% income tax and 17.2% for social charges.
Top Countries That Provide Residence Permits by Investment
Many of the European countries offer immigrants resident permits by investment so that they can invest in the economy of their countries. This way, they can provide more job opportunities in their countries among other benefits. The following are some of the top European countries that provide residence permits by investment:
- Portugal: You can get your residence permit in Portugal ready in six months. As an investor, you don’t have to live in the country. You can also choose any investment program of your choice.
- Malta: A residence permit in Malta can be obtained in three months. It also gives you cosmopolitan opportunities like opening an account in a European bank, traveling to Schengen countries without a visa, and tax optimization.
- Greece: A residence permit by investment in Greece is obtained in three months, and it comes with the opportunity to travel to Schengen countries without a visa, the opportunity to become a citizen in seven years, and a European bank account.
While there are different ways to obtain a residence permit, obtaining it by investment has proven to be the best way. You get to enjoy citizenship rights without even living permanently in the country. Before you commence the process, ensure you have a professional check your documents to ensure you’re all set.