Rasheed Alkhanji QICMS
Published 03:45 PM 30 December 2021
Updated 04:36 PM 14 January 2022
Many people baffle permanent residence by investment (RBI) or citizenship by investment (CBI) -second passport by investment - with temporary residence permits.
In this blog, we are going to clarify the major difference between citizenship by investment (CBI) -second passport by investment and residence by investment (RBI). We will also mention around twenty (20) CBI/RBI programs. After you read this article, you will learn about the countries that grant residency and citizenship by investment. Thus, you will have a better understanding of permanent residence by investment (RBI) vs. Citizenship by investment (CBI) -second passport by investment vs.temporary residence permits.
WHAT YOU WILL FIND IN THIS ARTICLE?
1. WHAT IS TEMPORARY RESIDENCE PERMIT?
A Temporary Resident Permit, also known as a TRP, is a document that allows people who are technically inadmissible to visit and stay in the country for a period, depending on their circumstances. A TRP is only given to a person if their need to come to the country outweighs the risk of that person being in the country.
2. WHAT IS RESIDENCE BY INVESTMENT (RBI) PROGRAM?
Residence by Investment (RBI) program is being offered by a considerable number of countries and allows foreign individuals to attain temporary or permanent residence rights on the basis of local investments or against a flat fee.
A resident by Investment permit often allows applicant to enter the country at any time, purchase real estate, and enroll the children in a school. If the applicant has a residency permit in a European Union (EU) nation, she/he will be able to visit other Schengen countries without a visa for up to 90 days every six months.
A permanent residence permit allows the applicant to reside in the country for an endless period. The main difference between temporary and permanent residence is this.
Holders of a permanent residency permit have the same privileges as citizens. Holders of a permanent residency permit can live, work, and do business indefinitely and take advantage of privileges such as free education for the children. The biggest restriction is that they are unable to vote or hold public office.
Citizenship by Investment (CBI) program is being offered by a extensive number of countries and allows foreign individuals to acquire citizenship and second passport on the basis of local investments or against a flat fee.
Individuals may be interested in Citizenship by Investment (CBI) for a number of genuine reasons, including the desire to start a new business in the country, greater mobility thanks to visa-free travel, better education and job opportunities for children, or the right to live in a country with political stability.
4. WHAT ARE THE MAIN DISTINCTIONS BETWEEN CITIZENSHIP AND PERMANENT RESIDENCY?
Well, as a holder of a citizenship and a passport you have the right to vote and stand for public, and you can pass it onto your children. Also, citizenship and passport for a lifetime and there is no residency requirement.
On the other hand, as a holder of a permanent residency you cannot vote and stand for public, permanent residency can be canceled anytime, and you must renew your permanent residence card from time to time. Furthermore, generally will be necessary to live in the country for a specific period, it depends on the program though.
5. WHAT ARE THE JURISDICTIONS THAT OFFER RESIDENCE BY INVESTMENT (RBI)?
Jordan : Permanent Residency program of Jordan.
Malta: Malta Residence and Visa Program.
6. WHAT ARE THE JURISDICTIONS THAT OFFER CITIZENSHIP BY INVESTMENT (CBI)?
Austria : Citizenship and Second Passport of Austria.
Dominica : Dominica Citizenship by Investment.
Grenada : Grenada Citizenship by Investment.
Malta : Citizenship by Investment in Malta.
Montenegro:Montenegro Citizenship by Investment.
North Macedonia:North Macedonia Citizenship Investment.
Saint Kitts and Nevis : Saint Kitts and Nevis Citizenship by Investment.
Saint Lucia : Saint Lucia Citizenship by Investment.
Turkey: Turkish Citizenship by Investment Program (CIP).
Vanuatu:Vanuatu Citizenship by Investment Program.
SECOND CITIZENSHIP OR RESIDENCY ON YOUR AGENDA 2022 NEW YEAR RESOLUTION
If you’re looking for a residency in another country than your own, a residency by investment programs can be perfect for you. The above are some countries that offer residency by investment. Note that these programs aren’t straight paths to citizenship but you can be eligible for citizenship if you meet the criteria after a certain period.
If you’re looking for a Citizenship as well as a second passport in alternative country than your own, a Citizenship by investment programs can be ideal for you. The above are some countries that offer Citizenship by investment.
Contact us today if you are interested in finding out more about these programs or if you have any questions about the application procedure in general.
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