Golden Visa Vs. Citizenship – What Are The Differences Between Statuses

Residence permits and citizenship programs are often misleading concepts because they have a lot in common, but they are not the same thing. It is necessary to define these two concepts to understand this issue and to clarify it. Evgeniya Morozova described differences between them in this article.

What does it mean to be a citizen?

A legally empowered person with protection and certain advantages from the country is a citizen. This status is automatically granted to those born in the state’s territory. If you want to get citizenship, you need to live in the region of the state for a period of time set by it. Refugees can also be granted this status.

Residing on a permanent basis

Transitioning to this status allows individuals to live for at least 5 years in the state’s territory on legitimate grounds, that is, legally. Such a resident can stay in the country indefinitely, but it must be periodically extended. Almost all EU countries provide this possibility.

A permanent residence permit gives you almost the same opportunities as a full-country member. You can live, get a job, run a business, and enroll your children in school. However, a permanent resident does not have the right to vote and cannot work as a government employee.

Residence

A residence permit is a paper thanks to which you can live in the country. It must be renewed at the end of the term. It will enable you to enter the state anytime, buy real estate, take out insurance, and much more. In addition, if there are children, they have access to education. In the EU, this status allows unimpeded movement within the Schengen area without visa.

Citizenship vs. residence permit

Now that both concepts have been defined, we need to learn about their advantages. Each has positive aspects and disadvantages.

Who can get a passport?

A passport is only for citizens. It is one of the most considerable distinctions. This privilege is not available to permanent residents. Having an EU passport opens the way to other states of the Union for employment or education.

Finance into the economy – get citizenship

If you contribute capital to the country, full membership can be obtained as soon as the application is approved. If you have the identity document of the chosen state, you and your family will have access to everything that this status provides. That is why the CBI program is very popular among people who want to make their lives more comfortable.

Golden Visa: everything you need to know

It is a prospect for investors because they can obtain residency through any investment channel. Getting this status is hugely beneficial but has many significant differences from citizenship. At this stage, you should understand that the Golden Visa is only a residence permit, not citizenship.

If you obtain a residence permit, it makes sense to consider the most developed countries taking participation in the program. Under these conditions, you can get access to social services and, if you wish, become a full member of the state.

Advantages of the program

If you have not yet obtained citizenship, there is no need to worry because the Golden Visa offers the best conditions for residents.

1. Travel without obstacles. In Schengen, it can be difficult to travel due to strict restrictive points. The Golden visa bypasses most problems that can arise along the way. You can travel through the Schengen area, and you do not have to receive a separate visa and go through any procedures.
2. Social benefits. States offer social benefits appropriate for everyone, regardless of occupation or other nuances, such as a sound health care system and quality education. For example, participants can get a good education and medical care.
3. A comfortable working environment. Investors have a long list of benefits that allow them to do business profitably. For example, some programs provide tax incentives for convenient business development.
4. Citizenship Preparation. Residents cannot obtain membership if they have such a visa. However, applicants do receive a residency permit. As long as the status has taken legitimacy, you can apply for residency. Then create a citizenship application.

There are many positives, but there are also some minuses.

 

Golden visas – not citizenship for investment

With a visa, you can receive a lot of positive opportunities. They are compared to those of a citizen who obtained the status for investment. The advantages are that the visa provides many of the same opportunities that citizens have at birth.

Residence by investment is available to program participants with this visa, but it does not mean that the person receives full citizenship. Already have a visa? If your length of stay meets the country’s rules, it’s time to start preparing and submitting papers for citizenship status. Also, you need to begin the application process.

Golden Visa – the path to citizenship

In the most common cases, investors begin the procedure for citizenship after obtaining a visa. The application process, as well as the requirements, may differ from each other, but for the most part, there are many similarities between them. You do not have to follow any requirements to get a visa to be valid. However, those residents who want to apply for permanent living must understand that the length of their residency in the state must meet the requirements of a particular country.

This requirement also applies to families of investors if they also plan to obtain citizenship. When the conditions are met, you can proceed with the documents. To do this, you must go through examination procedures in different areas. This point is stipulated separately, depending on the territory you have chosen.

To the EU with a golden visa

Most EU countries grant citizenship for financial contributions to the economy. Similarly, they allow them to become residents. In both cases, many benefits are offered, attracting new members to European states. As a result, according to Immigrant Invest expert Evgenia Morozova, Europe is a sought-after place where most immigrants want to go.

This trend is due to the relationship that the countries of the European Union have. And also the availability of all the benefits available to people living in the EU. A golden visa is an excellent option if a person decides to ensure the best living conditions for himself and his family.