Buy a residence permit from Legal Paper Consulting Lawyers. A residence permit(less commonly residency permit) is a document or card required in some regions, allowing a foreign national to reside in a country for a fixed or indefinite length of time. These may be permits for temporary residency, or permanent residency. The exact rules vary between regions. In some cases, a temporary residence permit is required to extend a stay past some threshold, and can be an intermediate step to applying for permanent residency.
As you think about getting an easy second residency, you should always keep your overall strategy in mind.
Issues like taxes, potential for citizenship, quality of life, minimum investments, and physical presence requirements are all items to consider when you decide to establish residence anywhere – regardless of how easy the process is.
However, with these easy second residency programs, you need to consider an additional factor – permanence.
The problem with many cheap and easy residence programs is that you simply don’t know what the government is going to do in a few years.
While you may be able to get away with meeting minimum residency requirements now, that may change as these programs become more popular.
For example, Uruguay’s residency program used to be quite liberal, allowing you to maintain a paper residence with a minimal investment and a yearly visit to renew your permit.
In recent years, however, Uruguay has tightened its residence and citizenship requirements.
Now, in order to maintain Uruguayan residence and be eligible for citizenship, you have to actually invest a substantial amount of money in the country or spend the majority of your time there.
So, if you choose a low-commitment, low-investment option, you should be aware that you may not be able to get a passport – or even maintain your residency – if the government changes its policies.
This uncertainty is why I usually recommend that people spend the money to get residence by investment.
Unless you plan to actually move there, residence by investment offers more stability than other easy second residencies while still allowing you to fulfill bare-minimum physical presence requirements.
While getting a second residency with minimal effort may seem appealing at first, it may not be in your long-term best interest.