You’ve likely come across the terms “residency” or “Citizenship” a lot if you’re one of those looking to broaden their horizons internationally, and while these words are often used interchangeably, they actually mean different and somewhat contradictory things, so what exactly is the difference between Residence and Citizenship?
A residency is a document that allows you to stay in a country for a certain period of time for a certain number of years depending on the laws of the host country, and this residency must be renewed regularly to maintain its validity. A residence permit often allows you to enter the country at any time, buy real estate, obtain health insurance, and enroll your children in school. If you have a residence permit in an EU country, you will be able to visit other Schengen countries without a visa for up to 90 days, However, the residency holder does not have political rights in the state such as the right to vote. There are two types of residency: the first is temporary residency, which grants the individual the right to reside in the country for a limited period with the possibility of renewing it in accordance with the policies and regulations of the state. The second type of residency is permanent residency, which gives you the right to reside in a particular country for a longer period (extending for years), and the duration of residency varies from one country to another, as residency may enable you to obtain citizenship in the laws of some countries.
Residency by investment programs provide you with the opportunity to obtain permanent residence legally in another country in exchange for an investment in it, and the largest number of these programs are located within the European Union to provide many investment opportunities, usually referred to as the golden visa. Reach Immigration offers you a number of programs Residency through real estate investment in (Cyprus, Greece, Portugal, Malta, and Hungary) you can find it here, Reach also offers you residency programs for businessmen in Canada through provincial nomination programs and Canada visa for startups, in addition to the residency program in America through the EB-5 Investment Program and Australia’s Business Innovation Program.
As for the concept of citizenship, it is a state of membership and belonging to a state, unlike residents, citizens receive all the rights, privileges and responsibilities defined by the laws of that state, and these rights include voting, participating in politics, receiving education and a level of health care, citizens can also apply to pass The right to citizenship for their children, usually for life.
Citizenship can usually be acquired through birth in a country, parentage, or marriage, but this may not be an option for many, so citizenship-by-investment (CBI) programs allow applicants to obtain a second passport through Investing in the country. The most popular citizenship programs are mostly located in the Caribbean (Dominica, Saint Lucia, Saint Kitts and Nevis, Antigua and Barbuda, and Grenada) which you can view by clicking on the link here.
Reach Immigration specializes in providing advice regarding citizenship and residency programs in Europe. You can start your first step by contacting with our team that is ready to answer all your questions and inquiries.