Residence permit for Latvia
Recent changes in legislation have significantly simplified the process of obtaining a residence permit for Latvia.
The most accessible is the acquisition of real estate in Riga, Riga district and major cities of Latvia for at least 100,000 lats (142,000 euros), or in other Latvian regions in the amount of 50,000 lats (71,000 euros).
After registration of the transaction all the necessary documents are submitted to the Embassy of Latvia, where considered within 1 month and, if approved, residence permit for Latvia is registered.
Initial Registration is "temporary residence permit for Latvia" and is valid for 5 years. After 5 years, you have the opportunity to take the exam on Latvian language and obtain a "permanent residence permit for Latvia", or simply to extend a temporary residence permit in Latvia for the next 5 years.
Residence permit for Latvia gives you the following:
- You can travel throughout the European Union without any visa.
- You can stay in Latvia for as long as you wish.
- You get a work permit in Latvia for any employer (also from himself).
- You can apply for visas in Latvian diplomatic missions and get a visa through them quickly (for example, in the U.S., UK and other European countries are not where you need a visa).
The only disadvantage of a temporary residence permit for Latvia is the need for its annual registration, which is a measure of security from the Latvian government - it wants to make sure that you still own the property, based on the acquisition of which have been granted a residence permit for Latvia, and regularly pay for it land tax.
In addition to investing in real estate, there are other ways to get a residence permit for Latvia these are:
- Payment into deposit in Latvian bank money in amount of not less than 200,000 lats (284,000 euros)
- Business investment on the territory of Latvia in the amount of 25,000 lats (35,500 euros) through the registration of the Latvian company, provided that the business has paid for the taxed year taxes in the amount of 20 000 lats (about 28,500 Euro)
- Business investment on the territory of Latvia in the amount of 100 000 lats (142,000 euros) through registration of a Latvian company.
Our experts will gladly help you with preparation of all necessary documents to obtain a residence permit for Latvia smoothly and rapidly, as well as we would be glad to help you with search, purchase and registration of a decent real estate.
Interested? - Get in touch with us.
