Residence Permit

 bank deposit rezidence permit in Latvia

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.

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