You could apply for permanent residence of more than one country at the same time. It allows individuals to have a legal residence in two or more countries, granting them access to the social and economic benefits of each nation. This is known as dual residency or dual citizenship. Dual residency is the situation in which a person holds two or more country residencies.  

But Residency and Citizenship are two separate things, you can be the citizen of a country where you were born and have lived for most of your life. You may choose to go to another country and reside there to live, work and study permanently or for an extended period. Based on your circumstances, you may be eligible to apply for residency, which gives you the right to live in another country indefinitely or as per the conditions of your residence visa. You are still a citizen of your country of birth and will retain the passport of your country of birth.

The rules and regulations for obtaining dual residency vary from country to country and it is important to research and understand the requirements of both countries before pursuing this option. If you are granted permanent residence by more than one country, you will have to check on the legal residence requirements of each of the countries and decide your course of action.

Please be aware, after you are granted permanent residence by a country, you may be subject to physical residence requirements of that country. Usually, the definition of residency for the purpose of qualifying for social programs or tax status is not six months but 183 days. Some countries may require a minimum stay of 183 days in a year to be eligible to maintain the permanent residency status. What if both countries chosen by you require 183 days in year each?

Not all countries allow dual citizenship. It is important to know that each country has different laws and regulations governing dual citizenship, and it is best to check with the countries before proceeding.

One may have a combination of citizenship and permanent residency, that works the best; to be eligible for the permanent residency, you need to be a citizen of yet another country. If you’re already a citizen of a country, you don’t need to be a permanent resident of the place. The idea is that you have all the benefits of permanent residency as well as some additional ones.

One of the biggest advantages of dual residency is for significant tax savings. You can benefit from their different tax systems if one country has a higher income tax rate than another. It opens opportunities to live and work in two places at once, for career advancement and job security. Since you will have access to two distinct labor markets It can also give you the ability to financial stability and security. It may give you access to health care services or retirement benefits from both countries. When you are a resident of two countries you have access to two different banking systems, which can make it easier to manage and diversify your investments.

Dual residency allows you to take advantage of financial benefits available in both countries. Taxation would normally be in the country that a person has the most “ties" in and depends on how much time is spent in each. Same, you may be able to reduce taxes by taking advantage of double taxation agreements between the two countries.

Travel is easier with dual residency as you can enter both countries without applying for a visa. Living in two countries can have many benefits, be sure to understand the potential risks as well as the advantages.