What are the Privileges of Having a Permanent EU Residence Permit?
Member states of the European Union are all developed countries with a really high quality of life. Almost half of the EU countries launched citizenship or residency by investment programs. These schemes were created for those third country nationals, who would like to invest in the economy of a European country. Also those who want to benefit from the right of living in the European Union and/or in the Schengen area use these programs.
Golden Visa programs of Europe provide investors with many advantages. People from all over the world want to get EU permanent residence and benefit from these advantages. This article particularly focuses on perks of security, business opportunities and quality of life that come with EU residency.
One might choose their place to live based on many different criteria. However, security will always be a major factor among other contributing factors. Living in a safe place with your family is just a dream for a lot of applicants. EU residence offers exactly that to the investors. Europe in general can be considered as safe. Realistically, nowhere on Earth is absolutely and perfectly safe, but it is more than possible to live crime-free in Europe. European countries take care of the residents’ and citizens’ rights. This not only covers the investors’ and their families’ security, but also their assets’.
The European Union’s internal common market is opened for all residents and citizens of any member state. The single market exists for the benefit of all the European Union’s 500 million residents and citizens. Its cornerstones are the “four freedoms”: Free movement of people, goods, services and capital between all 27 EU member countries. These can be enjoyed, with limited exemptions, by everyone living and working in the European Union. Closeness to all the European business hubs is just another convenience EU residency provides.
Quality of Life
In the European Union everything is alright with the above mentioned cornerstones of living anywhere. In Europe, living a quality life with all its beauties is just the normal way of living. Meanwhile, residents can enjoy all the benefits the EU can offer. Some of them can be listed as access to:
- Employment and all correlating conditions
- Education and vocational training
- Social security and health insurance
- Social assistance
- Social benefits
- Freedom of movement, especially the EU
- Freedom of association or union
- Grants and Loans
Golden Visas are great for Permanent Residence Permit
Golden Visa, by definition, is a type of residence permit. The programs are designed to attract high net worth individuals into the European countries, and enables non-EU nationals to obtain European residence permit. What it essentially does is to let the holder live in the country and spend time towards naturalization. However, in the sector, Golden Visa is generally used in substitution for “residency by investment”. Like the usage of the word Kleenex as a synonym for tissue, Golden Visa as a term encompasses residency by investment programs.
Being an EU resident grants the Golden Visa owner visa-free travel in and of itself. Golden Visa holders have the right to travel within the Schengen Area without a visa. There are several countries throughout the world that will grant visa-free access to permanent residents of the EU. These countries do not require these residents’ passports to give access. EU residency also provides more legitimacy when applying for visas in countries that still require the resident to obtain one.
The reasons why Golden Visas are so popular are quite simple. This particular form of residence permit does not require much. Golden Visa does not require having a job offer or marrying someone. It also removes the need to start a business which comes with many chores and taxes. Therefore, it removes most of the headache.
Golden Visa applicants usually prefer the route for real estate investment. Each country has its own set of requirements to apply the Golden Visa program.