I just hate this smug american BS. "We love XYZ", but will exploit it, and change rules every 4 years.
As far as I can tell, it is eight years of legal residency. You also must not be dependent on welfare, which implies that you're either already wealthy, dependent on someone, or you have permission to work. Very similar to the US.
So effectively you have to apply for a work visa just like in the US, you can't just walk in and expect to be tolerated - unless you're a refugee.
This is literally false in many European countries. I live in one where it is false. Please verify details before posting with specific numbers.