The benefits of having an RP cannot be overemphasized. From prolonged stay to educational and social benefits, the possibilities are immense. However, the process can seem intense and the waiting period, unending. The duration of getting a permit depends on the country you're applying for and certain other factors. 

Getting a residence permit (RP) can seem like a hard nut to crack if you're inexperienced. This is why it's advisable to seek help from experts like Garant Immigration. These professionals have been in the industry for a long time and can help you scale through the process.

This article discusses the duration of obtaining a residence permit in different countries, the requirements, and factors that may cause a delay.

Obtaining a Residence Permit

A residence permit is a document issued by immigration authorities to allow a foreigner to reside in a particular country and enjoy certain citizen benefits. While getting an RP can be easier in some countries than others, the means of getting it can also determine how easy or difficult it can get.

Although you can get a residence permit by marrying a citizen or admission into a university, getting a permit as an investor is one of the easiest ways in most countries. European countries have many programs that will benefit wealthy foreigners who are willing to live and set up a business in the country. One of the general requirements to obtain an RP as an investor is a talent visa. Let’s consider the residence permit process in select countries below.

Residence Permit in Cyprus

Cyprus offers permits to foreigners all over the world through different investment options. The type of investment usually determines the duration of getting your permit. You can choose to buy commercial or residential properties or buy shares from Cypriot companies.

You will receive your RP within three months if you're investing up to €300,000. However, if you're investing less than that, then it may take about 12-18 months.

Requirements

To be an investor in Cyprus, you must be at least 18 years old with no criminal records. You must also provide a medical report, prove that your yearly income is up to €300,000, and own or rent an apartment in the country.

Residence Permit in Austria

You can apply for an RP in Austria and receive it within four to eight months if you are financially independent, have an apartment, and have a steady passive income. You must also receive income legally from another country. This can be a salary from a remote job, income from holding shares, or business. However, note that you may still need to pay taxes in your home country. For example, you'll have to pay taxes in France if your earnings are French-based.

The following are some other requirements for a residence permit in Austria:

• You must stay in the country for a minimum of 183 days in a year.
• You must have no criminal records
• You must understand German at A1 level at least
• You must have medical insurance.

Residence Permit in Spain

To obtain an investor's residence permit in Spain, you need to invest a minimum of €500,000. Of all the six investment programs to choose from, property purchase is the most common. It allows the investor to buy one or more properties for commercial or residential purposes.

Obtaining a permit in Spain is one of the fastest. You can receive your RP within two to three months after applying. Below are the requirements for getting an RP in Spain:

• You must be 18 years of age and above 
• You must have no criminal records
• You must have proof that your funds were obtained legally and outside Spain.

Residence Permit in Portugal

As an investor, to obtain a residence permit in Portugal, you must have invested at least €250,000. Acquiring investment fund units and buying real estate are the most common investment options. 

You can expect to receive your RP in less than a year (eight to ten months) with all the necessary preparations and meeting the required conditions. You can also get an RP for your spouse, children, parents, and siblings under your care.

You're also expected to be above 18 years old with no criminal records and be able to prove that the source of your income is legal and obtained outside Portugal.

Residence Permit in Switzerland

Getting an RP in Switzerland as an investor can be expensive. However, you'll receive it within six months including two to four months of due diligence. You must be able to pay a lump-sum tax for one to five years. This depends on the investor's income and can range between €450,000 and €1,000,000.

You'll also be asked to pay a sum of €18,000 social security fee for each adult in your family. Additionally, you must pay for medical insurance, preparation of documents, and legal services. You would be required to stay in the country for a minimum of six months to keep your permit.

Factors That Delay Residence Permit

After applying for your permit, it's normal to start looking forward to the approval date. However, while most of the applications are processed at the expected time, you may be unable to get it at the expected date because:

• There's an error in your application
• Your application may require a prolonged investigation
• You requested a waiver for an essential document
• Your source of funds can't be confirmed through your employer
• You need to attend an interview

What Next After Obtaining a Residence Permit?

Once you have your residence permit, you have citizenship rights and can participate in all social activities except politics. You can also request a permanent residence permit which will allow you to live in your new country permanently.

However, you can't apply for a permanent residence permit immediately. In most countries, you have to live in the country for about five to ten years before applying.

Conclusion

The duration of getting a residence permit varies from country to country. Even in the same country, duration may differ for individual applications due to the factors mentioned above. Therefore, you must not compare your application process time with that of others.