The Difference Between Residence and Citizenship

Join us for the next Nomad Capitalist Live event:

Citizenship is a legal status of personhood and membership in a sovereign state. Citizenship grants rights, privileges, and protections to individuals within a country and state. Citizenship is permanent. Residency, on the other hand, is a permit that allows an individual to reside in a specific country with conditions that must be adhered to. Residency can be either temporary or permanent.

In this video, Mr Henderson shares the difference between residence and citizenship.

00:00 Start
0:20 Main Mistakes
1:20 Visa Definition & Meaning
3:50 E-Visa
4:30 Residence Permit
4:47 Green Card
8:38 Citizenship
11:22 Greek Golden Visa
12:22 How to Get a Second Passport

Nomad Capitalist helps clients "go where you're treated best". We are the world's most sought-after firm for offshore tax planning, dual citizenship, and international diversification and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors.

We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country.

No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[iTuber]

Visa = entrance ticket to stay for xyz days
Residency = entrance ticket plus right to stay somewhat indefinitely
Citizenship = all of the above plus rights and other benefits eg voting, freehold deeds etc
Passport = guarantee of identity to other countries via your issuing country

[recoveryrider]

I would like to hear about how you actually travel on multiple passports.

[aishwarya__qe]

Thank you for this excellent explanation on such a confusing topic!

[stevemyers]

Could you cover UK tax exempt/reduced territories and the validity of them for corp. usage (BVI, Isle of Man, Gibralter, UK itself, etc) residency. Then you could follow up with new videos in that series for other countries who have territories with low/no tax. etc.

[YouGotOptions]

Bro thanks for all the jewels you drop. I am NOT a 7 or 8 figure type business owner BUT I still glean insight into opportunities. Appreciate it

[jpmatar]

Maybe a video about what would be the benefits of European permanent residency would be interesting/ important since it may regard the Status in 26 countries at once

[gregorylawler]

at last, you did this video .. i was going to ask you what the differences were !! it will a very popular video thankyou !

[PawleyGirl]

I have had to learn these fairly recently... I moved to Egypt in August. I had to start with a 30 day tourist Visa. Then I had to apply for a 3-year residency. After that I have applied for citizenship, but that takes 2 years with my situation, so I have to wait for that one to get approved. 🙃

[carolinavarela]

portugal golden visa
Government lost in court there will be no retroactivity to cut cases that applied after 16 th february . New applicants have the right to enter until the law is fully legislated into force. Lawyers call it 45 day windown to enter until governemnt finishes the process.

[danzelimako]

What do you know about elective residency in Italy.? I was there for three years and inquired about residency . I was told because I collect a pension I qualified for elective residency

[VA-zqii]

If i live and have unlimited residence permit in Germany but not a citizenship and i decide to live in the UAE will the germans tax me? (I have a serbian citizenship)

[CC-lvox]

@nomadcapitalist Can ONLY a citzen of a country acquire a passport for a country?

[shaned]

In the case of Malta CBI, you mentioned a year -and-half stay in Malta. Does it need to be continuous w/o breaks?

[mrpeel]

What happens if you receive residency via your existing Passport, and renounce that Citizenship? Does the process start over with your replacement Passport?

[guillaumeg.beaulieu]

Hello! I’d be very much interested in having your opinion on something, I’m in the process of buying a house in Madeira Portugal, with intent of airbnbing it. Is it a good a idea? Im from Quebec Canada.

[ikechukwuokeke]

Is it possible to have three citizenship.

[shaned]

If I chose Malta CBI for 700k euros, do I need to reside there let's say for at least "CONTINUOUS" 15 months? Or those 15months can be can be broken down to let's say 3 X 5months to complete the 15 months requirement? Thanks

[HotelEuropaBasak]

"Sadly", a free minded person or a capitalist can only be a nomad nowaday or they hold you as assets of their country political business.

[HealingSunHouse]

I'm going thru that now....I moved from Georgia to Puerto Rico and though PR is part of USA in doing my taxes, I'm being asked if PR is my residence so that I can file my Georgia taxes as a non resident ...I'm so confused

[nitism]

I am Greek if an Irish or Hungarian woman wants marry me. I offer myself, I am 25 years old.