What is the difference between Residence and PR?

The main difference between Residence and Permanent Residence is the length of the Travel Conditions you are given. Travel Conditions are your ability to exit and then re-enter New Zealand as a Resident. For most people your initial ‘Resident Visa’ contains Travel Conditions valid for two years from the date of issue or your first arrival in to New Zealand.

At the end of those two years and provided you qualify under one of several criteria you can apply for ‘Permanent Residence’ which gives you the same Visa status but with Travel Conditions that never expire. So the ‘Permanent” part relates to your ongoing ability to exit and then return as a Resident Visa holder.