Temporary Residency

Temporary Residency Permit Services

Temporary residency permits provide individuals the legal right to reside in a country for a specific period. Whether you’re looking to explore new opportunities, establish a foothold in another country, or lay the groundwork for permanent residency or citizenship, a temporary residency permit is often the first step.

At Wealthlocity, we specialize in helping clients secure temporary residency permits worldwide. Our tailored services guide you through the complexities of application processes, ensuring compliance and maximizing your chances of success.

What is a Temporary Residency Permit?

A temporary residency permit allows non-citizens to reside in a host country for a set period, typically ranging from one to five years. These permits often come with restrictions or conditions, such as work authorization or renewal requirements, and may serve as a pathway to permanent residency or citizenship.

Pathways to Temporary Residency

There are several ways to obtain a temporary residency permit, depending on your circumstances and goals. Here are the most common pathways:

1. Residency by Economic Solvency

This pathway is ideal for individuals who can demonstrate financial independence and the ability to support themselves without relying on the host country’s social systems.

Requirements:
- Proof of income, such as pensions, dividends, or rental income.
- Evidence of substantial savings or investments.
- Health insurance and proof of accommodation.
Popular Countries:
- Spain: Non-lucrative visa for financially independent individuals.
- Portugal: D7 visa for passive income earners.
- Italy: Elective residency visa for retirees.

2. Residency for Work and Employment

Many countries offer temporary residency permits tied to employment, allowing foreign nationals to work legally.

Requirements:
- A valid job offer or employment contract from a company in the host country.
- Approval from local labor or immigration authorities.
- In some cases, proof that the position could not be filled by a local worker.
Popular Countries:
- United Arab Emirates (UAE): Work visas tied to employment contracts.
- Singapore: Employment Pass for highly skilled workers.
- Australia: Temporary Skill Shortage (TSS) visa for skilled professionals.

3. Residency by Study

Students enrolled in accredited educational institutions can often secure temporary residency permits.

Requirements:
- Proof of enrollment in a recognized institution.
- Sufficient financial resources to cover tuition and living expenses.
- Health insurance coverage.
Benefits:
- Opportunity to work part-time in many countries.
- May lead to post-graduation work permits or permanent residency.
Popular Countries:
- Australia: Student visa with options for post-study work permits.
- United Kingdom: Student visa leading to the Graduate Route.
- Netherlands: Temporary residency for international students, with an orientation year visa post-graduation.

4. Residency by Family Unification

This pathway allows individuals to join family members who are already residents or citizens of the host country.

Requirements:
- Proof of relationship (e.g., marriage, birth certificates).
- Evidence of financial support by the sponsor in some cases.
Popular Countries:
- United States: Family-sponsored immigrant and non-immigrant visas.
- France: Family reunification visa for spouses and children.
- Sweden: Residency permits for family members of Swedish citizens or residents.

5. Residency by Investment

Often referred to as “Golden Visas,” these programs allow individuals to gain temporary residency by making significant economic contributions.

Investment Options:
- Purchasing real estate.
- Investing in government bonds or funds.
- Establishing or contributing to a local business.
Benefits:
- Includes family members in the application.
- Minimal physical presence requirements in some cases.
- Potential pathway to permanent residency or citizenship.
Popular Programs:
- Portugal Golden Visa: Real estate investment starting at €280,000.
- Greece Golden Visa: Real estate investment of €250,000.
- Spain Golden Visa: Real estate investment of €500,000.

6. Residency for Digital Nomads

As remote work becomes more common, several countries now offer temporary residency permits specifically for digital nomads.

Requirements:
- Proof of remote employment or freelance income.
- Minimum monthly income threshold, depending on the country.
- Health insurance coverage.
Popular Countries:
- Estonia: Digital Nomad Visa for remote workers.
- Croatia: Temporary residency for remote workers.
- Barbados: 12-month Welcome Stamp for digital nomads.

Key Benefits of Temporary Residency

Legal Status: Reside legally in your chosen country with access to services and amenities.
Work Opportunities: Many permits allow employment or freelance activities.
Pathway to Permanent Residency: Temporary residency often serves as the first step toward long-term settlement or citizenship.
Global Mobility: Expand your freedom to travel, work, or live in new regions.
Family Inclusion: Most programs extend residency rights to immediate family members.

Paper Residencies: Residency for Compliance Purposes

For individuals seeking global mobility, tax optimization, or the ability to legally comply with residency requirements without committing to physical relocation, paper residencies offer a practical solution. A paper residency provides legal residency status in a country without requiring significant time spent there. This type of residency is often used for compliance with tax, financial, or legal obligations while maintaining flexibility.

At Wealthlocity, we guide you through the process of obtaining paper residencies in jurisdictions renowned for their simplicity, low costs, and minimal physical presence requirements.

What is a Paper Residency?

A paper residency refers to a residency permit obtained primarily for compliance purposes, such as fulfilling tax or banking requirements, rather than for living in the host country. It is an effective tool for individuals looking to establish a legal connection to a country without relocating full-time.

Benefits of Paper Residency

Tax Optimization:
- Establish residency in a jurisdiction with favorable tax rules to reduce or eliminate tax obligations in your home country.
- Comply with international tax regulations, including tax residence requirements.
Banking and Financial Access:
- Secure access to local banking systems and financial services in the host country.
- Meet residency requirements for opening bank accounts or financial investments.
Global Mobility:
- Establish a legal base in a stable jurisdiction while maintaining the freedom to live or travel elsewhere.
Low Maintenance:
- Many paper residency programs have minimal physical presence requirements, allowing you to spend most of your time in other locations.

Popular Countries for Paper Residency

1. Paraguay

Why Choose Paraguay?
- Paraguay offers a straightforward and cost-effective residency program with minimal requirements.
- No mandatory physical presence is required after obtaining residency, making it an ideal paper residency option.
Key Features:
- Lifetime residency permit with one-time application.
- No worldwide income tax for residents.
- Minimal government fees and paperwork.
Requirements:
- Proof of solvency, such as a bank deposit (typically $5,000) in a local bank.
- Police clearance certificate from your home country.
- Basic health check.

2. Panama

Why Choose Panama?
- Panama’s Friendly Nations Visa and other residency options are tailored for individuals seeking legal residency with minimal physical presence requirements.
- Panama is a recognized tax haven, offering favorable tax treatment for non-resident income.
Key Features:
- Low tax obligations for foreign-sourced income.
- Residency leads to a pathway for permanent residency or citizenship.
- Only one visit to Panama is typically required for application.
Requirements:
- Connection to Panama, such as a bank account, real estate purchase, or economic activity.
- Proof of solvency, typically through a bank statement or income proof.
- Clean criminal record certificate.

How Paper Residencies Are Used

Tax Residency Compliance:
- Establish tax residency in a low-tax jurisdiction to reduce global tax burdens.
- Provide a legitimate tax residence for individuals relocating or managing cross-border income.
Banking and Investment:
- Satisfy residency requirements for opening accounts or investing in countries with stringent financial regulations.
Backup Plan:
- Create a secondary legal base in a stable jurisdiction for added security and flexibility.
Freedom from Residency Ties:
- Disconnect from high-tax jurisdictions by maintaining residency in a paper-residency country.

How Wealthlocity Can Help

At Wealthlocity, we provide comprehensive services to ensure a seamless application process for temporary residency permits.

1. Initial Consultation

Assess your eligibility for various residency pathways.
Identify the most suitable country and program based on your goals and circumstances.

2. Document Preparation

Assist with collecting, verifying, and organizing required documents.
Ensure applications meet the specific requirements of your chosen jurisdiction.

3. Application Submission

Prepare and submit complete, accurate applications to minimize delays or rejections.
Liaise with government authorities on your behalf.

4. Investment Guidance

Advise on real estate or business investments for residency by investment programs.
Connect you with trusted partners for property acquisition or financial management.

5. Family Applications

Simplify the process for including spouses, children, and other dependents in your application.

6. Post-Approval Services

Assist with relocation, including housing, banking, and healthcare arrangements.
Guide you through permit renewals and transitioning to permanent residency, if applicable.

Why Choose Wealthlocity?

Global Expertise: Extensive experience with residency programs across multiple jurisdictions.
Tailored Solutions: Customized strategies to align with your lifestyle and financial goals.
Comprehensive Support: From application preparation to relocation assistance, we handle every detail.
Trusted Network: Access to legal, financial, and real estate professionals worldwide.
Privacy and Discretion: Your confidentiality is always our priority.

Take the First Step Toward Global Residency

Whether you’re seeking a new base for your career, a secure location for your family, or a gateway to future citizenship, Wealthlocity provides the expertise and resources to help you achieve your residency goals.

Contact us today to schedule a consultation and begin your journey toward temporary residency with Wealthlocity.