Residence permit in Latvia

on Sunday, 23 November 2014. Posted in Useful Information

Residence permit

Residence permit in Latvia

Nowadays interest of investors is drawn by residence permit in Latvia that can be received for investment in this country.

Residence permit in Latvia from INVEST RIGA

Latvia Residence permit

INVEST RIGA offers to solve questions that are related to receiving residence permit in Latvia. We do not represent interests of any concrete developer or bank therefore you will receive an objective information by cooperating with INVEST RIGA.

What is the residence permit in Latvia?

Residence permit in Latvia is a document that allows foreigners to live in Latvia legally for five years. There is no need to get additional visa if you have this document. You have all the warrants and status of Latvian resident if you have this document.

Who can receive residence permit in Latvia?

Investor, who invests or purchases a real estate in Latvia or invests in business, makes deposit. Also, investor’s family that is his/her spouse, underage children and persons investor takes care of can receive these rights.
At the moment it is planned to issue this permit as identification card starting from 2012.

Residence permit in Latvia for real estate

Means of provisions of residence permit prescribe that permit can be received by purchasing real estate in Latvia at least for 143 000 EUR in such cities as: Riga or its area, Jurmala, Tukums region, Ogre region, Limbazi region, Daugavpils, Jekabpils, Jelgava, Liepaja, Rezekne, Valmiera, Ventspils.
Residence permit in Latvia can be also received by investing at least 71 000 EUR in real estate in other places in Latvia.

Residence permit in Latvia for investment in subordinated capital of bank

One more method allowed by Latvian legislation is making a deposit in one of Latvian banks. The deposit cannot be smaller than 300 000 EUR or equivalent amount in USD. Deposit is made at least for 5 years without opportunity to terminate the contract with the bank.

Investing in business

If investor wants to invest in business in Latvia, provisions of residence permit prescribe that the amount of investment must be at least 35 000 EUR and annual amount paid for taxes must be at least 40 000 EUR which is how the investor receives the residence permit in Latvia. There is an opportunity to receive a " residence permit in Latvia" up to 5 years by registering the company with a share capital that is at least 150 000 EUR. The request for paid tax amount in country’s budget is being cancelled by investing such amount in a share capital of a Latvian company.
There are several investment opportunities. Contact INVEST RIGA through email or telephone to receive more information.

The most popular way how to get the residence permit is purchasing real estate in Latvia. INVEST RIGA offers to manage all formalities with the presence of customer or to manage and receive residence permit in Latvia on the basis of warrant or by purchasing real estate, investing in business or making deposit in one of Latvian banks.

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