Real Estate Encyclopedia, terms -Permanent residence

Permanent residence

A permanent residence permit is a document that allows a foreigner to reside permanently in a state. Foreigners can obtain a permanent residence permit after they have lived in the chosen country for a certain period of time on the basis of a residence permit. Often this period is between 5 and 10 years.

Overall, permanent residence is a step towards citizenship. Once you have obtained this status, you are entitled to the same rights as nationals, apart from the right to vote and to stand for election.

What are the opportunities offered by Permanent Residence?

All countries have their own conditions for immigration, entry and residence. Therefore citizens with permanent residence status may have different rights, depending on the country.

A foreigner who has a permanent residence permit can:

  • stay in the country indefinitely; 
  • travel within the country and leave it multiple times;
  • visit visa-free countries which have agreements with the country of residence;
  • get medical care and education;
  • buy any type of real estate;
  • take out loans, use banks’ services;
  • get a job and earn money;
  • set up a business;
  • enjoy social benefits.

Obligations for foreign citizens

All foreigners with permanent residence status must meet a number of requirements in relation to the country of residence:

  • pay taxes;
  • obey the laws;
  • respect the culture and traditions;
  • fill in and send their tax returns on time;
  • take care of the environment and keep it clean and tidy.

How do I obtain the status?

The process of obtaining a permanent residence permit varies from country to country, depending on the legislative framework. One of the main requirements for obtaining the status, as mentioned above, is to reside in the country on the basis of a residence permit. In addition, during this period, the foreigner must meet a number of requirements:

  • stay in the country for a certain period of time;
  • leave the country only a limited number of times;
  • pay taxes;
  • obey the laws.

At the same time, applicants must provide a solid reason why they wish to continue to reside in the country in order to be granted permanent residency. Good reasons to apply for the status are:

  • family ties in the country;
  • a valid employment contract;
  • a flat, a house or other property;
  • a business;
  • studying.

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