Residence permit in Latvia
Residence permit in Latvia - comparison table
On 1st of September 2014 new amendments in law about immigration went into force. These amendments allow foreigners to receive a residence permit in Latvia for purchasing a real estate In Latvia, investing in subordinated capital - deposit in one of Latvian banks or investing in business, company's capital owned by resident of Latvia. In these cases investor has a chance to be eligible for receiving a residence permit in Latvia for 5 years with reregistration. Residence permit in Latvia provides an opportunity to freely travel in Schengen area. Residence permit in Latvia provides rights to work in Latvia.
What is the "residence permit in Latvia"?
- Residence permit in Latvia
- This is a document that allows foreigner to arrive in Latvia and freely travel in Schengen area for 5 years. In case of residence permit visa is not necessary.
Ways of receiving a residence permit in Latvia:
There are several investment methods for receiving a residence permit in Latvia, which give rights to be eligible for receiving a residence permit in Latvia with a maturity of 5 years that must be prolonged every year:
What opportunities are provided by residence permit in Latvia?Residence permit in Latvia gives rights:
- To arrive and be in Latvia for non limited number of days
- To feely travel in Schengen area
- To freely travel and be in Schengen area, Switzerland, Norway and Iceland up to ninety days in a period of a 6 months
- To have an opportunity to purchase and register a car in territory of Latvia and travel in whole Schengen area without paying the customs duty
- To have a driver's licence in Latvia that can be used in al member states of European Union
- To have an opportunity to work in Latvia without opportunity to work in other countries of Schengen area
- To receive the social safeguards of citizens (birth grants, pension in Latvia, social free medicine etc.)
- To have an opportunity to receive a regular European Union residence permit after 5 years
- To have an opportunity to be eligible for Latvian citizenship after 5 years that provides an opportunity to create visas on preferential terms when going to Canada, America, Australia or the Great Britain.
Who else without investor can receive the residence permit in Latvia?
Residence permit in Latvia can be also received by investor's family - wife/husband and under aged children; investor's guardian and persons dependent on investor.
How to receive a "residence permit in Latvia"?
Procedure of receiving a residence permit:
- Purchasing a real estate in Latvia, investing assets in share capital in Latvian company or making deposit in one of Latvian banks for 5 years is an argument to apply and be eligible for receiving a residence permit un Latvia
- If above mentioned criterion is implemented, an invitation is being created to deal with all formalities
- It is necessary to collect documents from different institutions: A. Document confirming sufficient residence assets in Latvia B. Document confirming place of residence in Latvia C. Reference about no criminal records from home country institutions
- Completed questionnaire with photographs added
- Document confirming marriage if the residence permit is created also for investor's husband/wife
- Document confirming birth of the child, if residence permit is created also for investor's under aged children
- All state fees are paid (included in IR services)
- When receiving a residence permit there must be health insurance and medical reference about not having tuberculosis issued by medical institution registered in Latvia.
Requests against pretenders to residence permit in Latvia can substantially change that depends on basis of investments and citizenship of the investor.
Maturities for receiving a residence permit in Latvia
Process of proceedings of signed in documents to receive a residence permit lasts from 5 working days to one month that depends on payment of amount of state fee. If there are no inaccuracies in documents submitted, INVEST RIGA deals with documents within maturity mentioned.
In which cases residence permit in Latvia is deniedThe Republic of Latvia can deny receiving the
residence permit in Latvia
- If the investor has submitted inaccurate and misleading information about himself/herself.
- If there is additional probation about investor or if is together with investor's application.
- If the application for receiving a residence permit in Latvia is submitted by husband/wife or under aged children, maturity can last to 3 months.
- In case of positive decision investor must arrive in Latvia within 3 months after making the decision to receive the residence permit.
INVEST RIGA services for receiving a residence permit in Latvia .
- Legal consultations
- Preparing and submitting of documents
- Undertaking the functions of authorized person to implement the customer's interests in Latvia according to state institutions of the Republic of Latvia and third parties.
Why choose Latvia as a country where receive the residence permit?
- Latvia is a member state of European Union and Schengen area
- Particularly easy and quick procedure of receiving of residence permit in Latvia
- Controlled and stable banking system
- The location of Latvia is geopolitically important
- 2/5 of Latvian business environment, service is in Russian and English
- Remunerative investment market
- Developed business environment
- Quick and easy registering of companies
- No restrictions in company management
- There is low tax politics in Latvia that induces economic growth
At the present moment there are very remunerative prices in Latvia in the field of real estates, which will increase by every moment because estate value is increasing by every year. Many world famous persons make investments in Latvia. They are seduced by unique nature and orderly business environment. Moreover, they receive a residence permit in Latvia. INVEST RIGA will help you to find the most appropriate investment model as well as deal with all necessary documents for establishing property rights. Contact us to get more information about receiving residence permits in Latvia.
INVEST RIGA guarantees confidentiality to every client.