Commerce Exam  >  Commerce Questions  >  What is the difference between normal residen... Start Learning for Free
What is the difference between normal resident and resident ship ?
Most Upvoted Answer
What is the difference between normal resident and resident ship ?
Introduction:
The terms normal resident and residency are often used interchangeably, but they have distinct meanings in different contexts.

Normal Resident:
A normal resident refers to a person who has a permanent home in a particular country and is subject to its laws and regulations. This term is commonly used in tax and immigration contexts to determine a person's tax status or eligibility for residency permits.

Residency:
Residency, on the other hand, refers to a period of medical training that follows graduation from medical school. It is a postgraduate training program where doctors gain practical experience and specialized knowledge in their chosen field.

Difference:
The main difference between normal resident and residency is that the former refers to a person's legal status in a country, while the latter refers to a medical training program.

Examples:
Some examples to illustrate the difference between the two terms are:

- A person who lives and works in the United States and pays taxes there is considered a normal resident of the country.
- A doctor who has completed medical school and is now undergoing specialized training in a hospital is said to be in residency.

Conclusion:
In summary, while the terms normal resident and residency may sound similar, they have different meanings in different contexts. It is important to understand the context in which these terms are used to avoid confusion.
Community Answer
What is the difference between normal resident and resident ship ?
There are a number of significant differences between the terms ‘residency’ and ‘citizenship’. A citizen of a country, nation or state has rights that are not conferred on a resident. Citizens can confidently expect that they will hold that status, and those rights, for life. In addition, citizenship status can be inherited by children and grandchildren merely by proving, if they were born outside of that country, that they are close filial relatives of the citizen.Residents have no such clear-cut security. Residency status can also, depending on the laws of that country, be separated into temporary and permanent residency. Each division may have different responsibilities, conditions and rights attaching to it. Some countries, such as the United Kingdom (UK) do not even acknowledge the term ‘residency’ but define it as ‘indefinite leave to remain’.It is common for residents to have to renew their residency permits by continuing to satisfy that country’s legal requirements. These may include continuing to hold the initially-required investment, maintain clean health and criminal records, and meet physical residency requirements. How often a residency permit has to be renewed, and the conditions to be met, will depend on each particular country.Some countries, after a specific period, say 5 years, may require that immigrant investment residents only have to be of good health, have no criminal record, and continue to show they will not become a burden on the state, instead of also having to maintain the investment.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
Explore Courses for Commerce exam

Top Courses for Commerce

What is the difference between normal resident and resident ship ?
Question Description
What is the difference between normal resident and resident ship ? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What is the difference between normal resident and resident ship ? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the difference between normal resident and resident ship ?.
Solutions for What is the difference between normal resident and resident ship ? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of What is the difference between normal resident and resident ship ? defined & explained in the simplest way possible. Besides giving the explanation of What is the difference between normal resident and resident ship ?, a detailed solution for What is the difference between normal resident and resident ship ? has been provided alongside types of What is the difference between normal resident and resident ship ? theory, EduRev gives you an ample number of questions to practice What is the difference between normal resident and resident ship ? tests, examples and also practice Commerce tests.
Explore Courses for Commerce exam

Top Courses for Commerce

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev