Residency by Investment

Residency is interchangeable with residence. This is “the act or fact of residing” to use the dictionary definition. Ordinarily, people tend to reside in their home country and, then, holiday in another country.

Let Latitude put a SMILE on your face with a new residency. You’ll feel more secure and will be able to move around easier as well. A second residency also allows you to invest in other markets as an insurance policy.

Furthermore, improve your lifestyle and boost the prospects of your children through education. With a second residence, you can ensure both health and wealth. Second residency’s a Plan B. It’s an alternative. Adding extra options is playing it safe, after all.

Temporary residence permits enable you to extend your stay beyond tourist visas, and the duration of the permit varies from one to five years, depending on the programme. The authorities issue these permits with time limitations, and you must, of course, renew them to remain in the country.

Moreover, the renewal requirements are tied to the permit’s purpose, and you must meet specific physical residence requirements. Temporary residents may not have access to certain benefits and may have limitations, such as single-entry permits. Although temporary residence permits do not directly lead to citizenship, they can lead to permanent residence.

If you’re looking for a way to become a citizen of a foreign country, obtaining a permanent residence permit could be the answer. These permits allow you to renew or exchange them for a passport, typically remaining valid for five to 10 years. With a permanent residency card, you’ll have comprehensive rights, except for political rights like voting.

Renewal is dependent on meeting physical residence requirements, which means you can continue working or even start a business in the country. However, the naturalisation process to gain citizenship can vary from country to country, with some requiring language proficiency and others prohibiting dual citizenship. It’s essential to work with experienced advisors, such as Latitude, who can guide you through the complexities of the process.

There are similarities across Residency-by-Investment programmes. But there are also differences. Common RBI requirements relate to age, however. You have to be over 18 years of age to qualify, for example. Yet you can bring a spouse and dependents with you as well. Investment amounts vary too.

You can get residency by investing in a national fund, for instance. Governments use this to improve a country’s infrastructure. Another way is to contribute to a property development project. Or you could also buy real estate for personal use.

Residency-by-Investment programmes benefit countries by attracting foreign investment, creating jobs, and increasing tax revenue as well. These programmes allow high-net-worth individuals (HWNIs) to obtain residency or citizenship by investing in the country’s economy, and contributing to cultural diversity and population growth.

Additionally, these programmes can improve a country’s image and reputation, demonstrating openness to foreign investment and, also, a welcoming attitude towards foreign nationals. Overall, they offer a mutually beneficial opportunity for both the country and the investor.