6 reasons for obtaining a residence permit in EU
A residence permit in any country of the European Union gives a foreigner the rights of a resident. Sergey Filatov, the founder of World Property Invest, named 6 reasons why it is necessary to get a permanent residence card as soon as possible.
Freedom of residence in the EU
A temporary resident of the country is allowed to stay an unlimited number of days a year in the country which issued a residence permit and 180 days a year (90 days each half-year) in other EU countries. Most of the programs are related to investments in property, so you will be able to live both in your own property and in a rented one.
Freedom of movement in the EU countries
The EU residence permit will allow you to travel within the Schengen area without a visa.
Education in EU schools and universities
- Your children will be able to study in schools and universities of any EU country. It is worth noting that in some countries (for example, in Spain) they will have certain privileges:
- the absence of a quota;
- the tuition fee lower than that for other visiting students.
Doing business in the EU
The temporary residence card will help you conduct business in a stable economic zone (both in the country which issued a residence permit, and in other European countries), open accounts in foreign banks, receive loans with a low interest rate, and carry out tax planning.
Obtaining a residence permit doesn’t automatically mean changing your tax residency — you will be a tax resident of the country where you spend most of your time (183 days a year). However, a residence permit will reduce the risks in case of threat to your business.
Investments and safety of invested funds
All programs for obtaining a residence permit are connected with the purchase of real estate. Therefore, by purchasing a liquid property, you save the invested funds and also get a great chance to increase them.
You can also receive passive income from the rental of this property. In the residence permit programs, where there is no obligation to own property for life, you can make a profit by reselling it in 5 years after the purchase, since the liquid object will increase in price during this time.
The European Union has a large number of high-quality medical centres. Therefore, the citizens who need treatment during a long period of time in Europe must have the status of a resident of one of the European countries.