Receiving a residence permit in Latvia by making deposit in Latvian banks
Making a deposit by opening a deposit account in one of Latvian banks is the quickest and easiest way how to get a residence permit in Latvia in comparison with purchasing a real estate in Latvia or investing in business. Subordinated capital means that a customer can lend money to his/her bank to a time period, which is at least 5 years without opportunities to terminate the agreement before expiration date.
Provisions related to making deposit in one of Latvian banks to lay claim to receiving residence permit in Latvia:
- The amount of subordinated loan (deposit) shall be at least 300000 eur
- Contract cannot be terminated before expiration date
- Deposit is implemented after 1st of July 2010.
- Investment is in EUR or equivalent USD
- Minimal deposit maturity is 5 years
- Must be paid state duty 25 000EUR
Advantages of making a deposit in a one of Latvian banks:
Since this opportunity to receive a
residence permit in Latvia can take just one day This is the easiest and quickest variant of all possible ones because creating maturity of residence permit in Latvia is from 7 to 40 days.
Necessary list of documents for receiving a residence permit in Latvia by making deposit:
- Completed questionnaire - application for residence permit in Latvia
- 2 colour photographs 3x4 cm for every applicant
- Document (reference from a bank) that confirms subsistence level for a year. Minimal amount of cash in account: 3443 EUR for a year
- Document confirming a residence in Latvia.
- Document issued by credit institution in Latvia which confirms an investment in subordinated bank capital (deposit) at least 300 000 EUR for a maturity at least 5 years and without opportunity to terminate the contract before the expiration date to receive a
residence permit in Latvia.
- Receipt for the payment of state fee
- Reference about no convictions that is issued in citizen's country (if foreigner from age 14 has been in a custody for a period that is longer than one year)
After getting a positive confirmation there must be such documents signed in when receiving a residence permit in Latvia:
- Health insurance policy for a year;
- Reference about fluorography and rentgenography results that confirms not having tuberculosis issued by Latvian medical institutions.
Comparable table about prices and maturities of residence permits are shown in the table about residence permits in Latvia.