What is temporary and permanent residence?

Temporary residence is a status that allows a foreign citizen to stay in a country for a limited time through a visa or a temporary residence permit. This status enables the holder to legally live, work, study, or conduct business in the country without full citizenship. Residence by investment programs is a common pathway to obtaining temporary and permanent residence by investing in the host country.

A temporary residence permit is typically issued for one to two years and can be renewed annually or biennially. After legally residing in the country for a specified period, usually around five years, a foreign investor can apply for a permanent residence permit, assuming they meet other criteria. Permanent residence grants nearly the same rights as citizens of that country, allowing residents to live, work, and study indefinitely without time restrictions.