About Citizenship & Permanent Residency
For an individual to reside in a country which he is not a citizen of, he/she will need to apply for a residence permit in that country. Temporary residence permits are usually issued upon entry to the country and are valid for a limited time only. Many countries now offer issue permanent residence permits to investors. This allows an individual to reside in the country but does not make them a citizen of that country and they are not issued with a passport.
Citizenship by investment offers investors a passport typically within a few months to a year. This makes not only the investor a citizen of that country but usually covers his/her spouse and children, and grants the right to live, work and vote in that country.
There are a few reason why an individual would consider a second permanent residence or citizenship. These are:
- Sheltering wealth through tax planning
- Protection against political and economic instability
- Expansion of investment activities
- Financial and personal privacy
- Access to quality education
- Access to excellent healthcare
- Mobility and freedom to travel
- Finding a better place for living and retirement