At first glance, a settled person has the same rights as a UK national. Besides, foreign nationals often choose to remain permanent residents, especially if it is forbidden in their homeland to have multiple nationalities.
Permanent residents don’t have to obtain additional permits to live, work, run a business, and study in the UK. Just like citizens, they have access to healthcare services, social benefits, and voting rights during local elections. Besides, settled people can sponsor their foreign relatives to come to the UK. Children of permanent residents become British citizens automatically if they are born on the UK territory. However, British settled people can lose their status if they are absent from the UK for too long. Foreign nationals coming from countries outside the Schengen Area can leave the UK for not more than two years.
The main difference between a permanent resident and a citizen is that your citizenship has no expiration date and cannot be revoked if you stay outside the UK for too long. Furthermore, as a citizen, you get an opportunity to travel around the world visa-free.