We have put together important difference between citizenship and residency by investment programs. Many often confuse between citizenship and residency.
Many media outlets do not use the right word. Be clear to say whether it is a Golden ‘Visa’ or ‘Passport’ program
Here are some important differences between citizenship and residency.
|You become||Citizen||Resident (temporary / permanent)|
|What you get?||Golden Passport||Golden Visa /Residence permit|
|Commonly known as||Citizenship By Investment|
|Travel||Worldwide||Regional (schengen area)|
|Price||Low (starts $100K)||Expensive (starts $250K)|
|Personal Visit||NO (yes for EU countries)||YES|
|Real Estate Ownership||No restrictions||Limited|
|Dual Citizenship||Applicable||Not applicable|
|Language and Cultural Integration||Not required||Required (if you want citizenship)|
|Rent a place||NO (yes for EU countries)||Yes (No if you buy real estate)|
|Renewals||5-10 years||2-5 years|
|Covid-19 Travel ban||No bans for citizens||Restricted access|
|Must live||NO||NO (yes if you want citizenship)|
|Education, Healthcare, Employment||Equal rights||Equal rights|
|Taxes*||No (not based on citizenship)||Yes (residence based taxation)|
|Rights*||Full Citizen Rights||Restricted (eg. No right to vote)|
|Revocation||Yes (fraud, false details)||Yes (fraud, disrepute, wanted person)|
|Relinquish / Abandon||Anytime||Anytime|
|Embassy / Consular Assistance||Yes||Limited|
* Please consult a CPA for your tax planning before you become a resident or citizen.