Permanent residency is a visa status that allows the bearer of the PR card to legally reside in the host country without being a citizen of that country. Permanent residents are entitled to live, work, go to school and access health care in the host country. However, they are not typically entitled to vote or run for office.
In order to be eligible to apply for permanent residency status in any given country, individuals usually have to meet certain requirements, such as having work experience in the country, having studied in the country and speaking the language. Since 1986 investment has been another way to gain permanent residency. PR status can also lead to citizenship by naturalization provided the resident has lived in the country for a certain number of years.
Each country has a different set of requirements that applicants must fulfill for its residency by investment program. For example, some programs require that applicants make a certain number of trips to the host country, while others do not. However, some requirements are common to all such programs:
All requirements must be met in order for residency applications to be approved by the host government.