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.
To be eligible to apply for permanent residency status in any given country, individuals usually must 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.
Residency by investment is the process of obtaining a permanent residency card in another country by investing in the economy of that country. PR status is then conferred at an accelerated rate compared to traditional applications.