Residency and citizenship are two words that can sound like they are the same but they have big differences. These words come to mind when a person is thinking of leaving his native country and move to another.
Although not many people experience confusion about the difference between one and the other, it is always good to be clear about the differences between these two terms.
It is also important to know what are the privileges, benefits, and obligations a person obtains by becoming a resident of a country and what would be obtained as a citizen;
Nowadays, different countries in the world offer temporary residency programs, permanent residency programs, and citizenship by investment programs, also known as CBI.
To clear out any doubt that arises about these types of programs, we will give a brief explanation of each one and the advantages that they offer to the applicants.
This type of program allows a person to be able to live, work, study and stay in a country for a certain period of time. Most of the time that special permit varies between 2 and 5 years. Its price is very affordable and does not offer as many benefits as the other programs.
Permanent residency programs
A permanent residency program also allows the applicant to live, study or work in that country. One of the most notable differences is that there is no time limit to stay in the country and after 7 years he can apply for a citizenship. The person also gets a passport with which he can travel freely to other countries as a resident of that nation.
We must also mention that if you first apply for a tempory residency, you’ll have to wait five years to be eligible to apply for permanent residency. The price is lower than a CBI program as the process to become a citizen takes longer.
A CBI program it’s the fastest way to get the citizenship of a country. The applicant obtains this vital document more quickly but must make a high investment in real estate or a government entity. Normally, the time for you to receive your second passport and second citizenship is between 1 and 9 months. We must mention that the benefits are much higher than the two previously described.
The terms, conditions, requirements, and benefits for any of these three types of programs depend on the government where it will be applied for this program.
If you have any questions regarding these types of programs or you need any additional information on how to apply in any of them, you can contact one of our agents at email@example.com