Obtaining a residence permit, permanent residence, citizenship and tax residency
Those who are planning to move to another country or are already living abroad know firsthand how difficult it is to gain a foothold in a new state. Obtaining citizenship is a complex multi-stage procedure that involves more than one application to the migration service, the collection of documents, and the issuance of official permits.
In addition, the legislation in this area is rather unstable: the conditions and requirements for the applicant are changing, new programs are being launched, special preferential regimes are being introduced, etc. The specialists of our company regularly monitor such changes in different jurisdictions and offer our clients the most relevant and profitable solutions.
We provide a wide range of services for obtaining a residence permit, permanent residence, citizenship, and tax residency. Turning to the professionals of Finance Business Service, you will save yourself from burdensome procedures and will be able to quickly choose the best option for solving the task, saving time and money.
Residence permit
A residence permit is a document confirming the right of a certain person to stay in a foreign state for a specified period of time, subject to the rules approved by the government of that state. The duties of the person who has received such a permit include not only compliance with local laws, but also honoring the traditions of this region. A residence permit gives a foreigner the right to stay in the country only for a certain period of time, after which he can:
- extend the validity of the residence permit by paying the state fee;
- apply for permanent residence;
- return to your home country.
Permanent residence
We can say that obtaining a residence permit is the first and inevitable stage of integration into a foreign environment. Only after having lived in the state for the required amount of time and having positively recommended himself, a foreigner can apply for permanent residence. This document, in fact, is evidence of permanent residence abroad. If we are talking about a stateless person, permanent residence (as, indeed, residence permit) becomes a proof of his identity in another country. However, this is not yet a passport, and a person who lives in a state on a permanent basis does not automatically become its citizen.
The law establishes that a residence permit gives a person residing in a foreign country the right to:
- independent choice of place of residence and, if necessary, its free change (purchase or rental of residential real estate);
- legal work in any position, with a few exceptions;
- receiving pension payments;
- service in medical institutions;
- using the services of social workers;
- free education in state institutions;
- obtaining the right to drive a vehicle;
- purchase of motorcycles, cars and their management;
- issuance of simplified visas to some other countries, if friendly diplomatic relations have been established between them and the state where the person temporarily resides;
- voting in elections to local self-government bodies and nominating one's own candidacy;
- departure from the country for up to 6 months and unhindered return back.
Foreigners with permanent residence, in addition to the above opportunities, can also take advantage of additional privileges, such as:
- social benefits, including child support allowance;
- state health insurance;
- the opportunity to invite relatives and friends, as well as to apply for a residence permit for them.
If you intend to stay in another country for the rest of your life, it makes sense to think about obtaining citizenship. A citizen of the state has the right to:
- holding positions of responsibility, including in internal affairs bodies;
- Some text
- service in the army.
Today, there are active discussions about how realistic it is to get a residence permit in a particular country. In reality, there is no “universal” recipe and each case requires an individual approach. Today, many countries offer attractive programs for obtaining a residence permit under a simplified scheme, and our specialists will help you choose the best option based on your capabilities and needs.
Tax residency
With the tightening of control over the finances of citizens of Ukraine, the issue of obtaining tax residency in Europe and the world with loyal taxation is becoming increasingly popular. This trend was especially developed after the announcement of Ukraine's intention to join the OECD in the near future, which allows its members to exchange information about tax residents.
It is noteworthy that people often confuse the concepts of “citizenship” and “tax residency”, thinking that the latter is automatically granted with obtaining a second passport. In fact, the presence of a residence permit or citizenship of the country does not at all imply the status of a tax resident, and vice versa: a tax resident may not have a residence permit.
Tax residency is the belonging of an individual or legal entity to the tax system of a particular state. Migration legislation defines a resident as a person who has a residence permit in the country, tax law - as registered with the tax authority and paying taxes.
Tax residents have obligations to pay taxes on employment, business, commissions, pensions, bonuses, allowances and income when renting or selling real estate. Taxes are levied on income received both in the territory of the state and outside it.
