EU residence - type, form and duration are differ depending on the jurisdiction. However, the main difference is status. EU residence can be temporary or permanent. Temporary visas include visitors, employment and normand visas, while permanent visas include investor visas and long-term visas. They are united by one essential condition - after a certain period of residence you can apply for citizenship of the country of residence through naturalization.
The advantages of EU resident status include the possibility of staying on its territory for a long period and the right to visa-free border crossing within EU. This is a solution that partially guarantees the opening/maintenance of an account in the EU and other jurisdictions.
Despite the fact that most states of the European Union operate under a common legal framework, the procedure for obtaining a residence permit is regulated by national legislation of each individual country. The current legislation of the European Union countries provides several options for obtaining a residence permit, and in order to select the most sufficient one, you should first assess the needs of the applicant, study his plans and analyze the grounds available in a particular state.