What Are the Differences Between Golden Visa and Citizenship?
There are many statuses that immigrants to the country can stay in. While some programs include a simple residency permit, others promise that this status will later be changed to permanent citizenship.
According to the observations of reputable specialists of Immigrant Invest, not all immigration participants clearly understand the difference between residency and citizenship. They can use the investor visa, citizenship for money or Golden Visa.
In this article, we will try to describe in detail all the subtleties of golden visa vs citizenship, as well as tell you about the available programs for obtaining these two statuses.
Citizenship gives more rights
Among the various differences between residency and citizenship, the most striking is the difference in rights. Citizens can obtain a country’s passport, while a residence permit doesn’t give them such a privilege. Permanent residents can only order a temporary permit.
A residence permit in one of the European Union states gives more freedom of movement. It is a bit like the Schengen, but you are allowed to reside only in the country where the permit was issued.
EU citizenship also gives the right to reside, work or study in any other state of the European Union. In this way many new opportunities and perspectives open up for the citizen.
Golden Visa – a great chance for investors
The Golden Visa project is especially interesting for the owners of big businesses, striving to integrate into the European space. An investor possessing the sum of 350 thousand euros may immediately obtain the right of residence in the investment migration countries of Europe with the subsequent acquisition of citizenship. The visa free is suitable for many participants of the project, since they already have the right to live in the country and citizenship can be postponed for later.
As an expert of the agency Immigrant Invest Svetlana Gorchakova indicates, other inexpensive offers are very popular today. For example, the program of obtaining the legal right to live in Greece puts candidates in the category of residents without the possibility of further obtaining a golden passport. Such conditions are often beneficial to people who do not want to be EU citizens, or who need to travel frequently to the Schengen countries.
Direct citizenship offers
Programs offering citizenship by investment in Europe will require you to invest much more. To become a citizen of Cyprus, it is necessary to invest 2.15 million euros. Those wishing to have a passport of Malta will have to spend 1.2 million euros. The whole procedure takes six months in Cyprus, and almost a year in Malta.
A number of wealthy citizens prefer Cyprus, due to the fact that they have a chance to dispose of EU passport and then live or do business in any other EU country without any additional requirements. In other words, their living conditions are quite similar to the rights of eurozone citizens.
It is also possible to obtain citizenship in this way in some Caribbean countries. Projects for migrants here are more profitable from a financial point of view. Individual owners of investments can meet only 100 thousand dollars. It takes no more than three months to prepare a certifying document. Everyone who has received such a status open visa-free entry to more than 100 countries around the world. The long list includes the Schengen states, Hong Kong, Great Britain and other countries. Such investing programs are in high demand among wealthy people who like to travel. They are well aware of the differences between the Golden Visa program and citizenship.
Conditions for obtaining citizenship and residency
The two residence statuses differ greatly in terms of conditions and rights provided. You can easily see this when you read the comparison of residency and citizenship below.
Basic conditions and requirements for residence permit:
- compliance with the rules of residence in the country for its further retention;
- possession of an international document issued by the country of residence;
- a permit to live and work without restrictions in the country that granted you permanent residence status;
- some countries impose a minimum length of stay;
- a resident must not have a criminal record.
Medical insurance will also be mandatory. In some cases, the holder of a residence permit will be allowed to travel to other countries.
Conditions and rights of citizenship:
- the possibility of never losing this status;
- possession of a permanent citizen’s passport;
- freedom of visa-free travel to countries in close relations with your state;
- the possibility of transferring citizenship to your children;
- all the rights that citizens have, such as voting, working, studying, and receiving medical services;
- almost no restrictions on the minimum period of stay in the country;
- accessibility to any consulate, embassy, or other diplomatic mission of the country when a citizen leaves the country.
Citizenship status guarantees you stability and confidence in the future. In addition, the United Nations Declaration of Human Rights gives every citizen the right to retain his citizenship.