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Residence permit

Residence permit for a foreign investor in Latvia (EU)


The Parliament of the Republic of Latvia has passed amendments to the Law on Immigration providing additional possibilities of obtaining a residence permit in the Republic of Latvia. Amendments entered into force on July 01, 2010.

The residence permit of the Republic of Latvia automatically guarantees free movement of persons within the Schengen area, currently consisting of 25 European countries. 

Having fulfilled one of the below criteria an investor may apply for the residence permit valid for the period of 5 years: 

1 Placement of term deposit an LR credit institution (Subordinated term deposit) 

• from 300 000 EUR (5-6% annual rate) 

• from 400 000 USD (4-5% annual rate) 

2 Business establishments (Investment amount) 

• 

At least LVL 25,000 (~EUR 35,572) should be invested provided that the annual amount paid in tax is worth at least LVL 20,000 (~EUR 28,457).

3 Investment

in real estate

•I

t is necessary to invest in one or several real estate objects in Riga, Riga region, or Latvian towns, with the total deals amount worth at least LVL 100,000 (~EUR 142,287), or beyond the listed territories in one or several real estate objects, with the total deals amount worth at least LVL 50,000 (~EUR 71,144);

 

Temporary residence permit will be available both for investors and their family members – spouse, underage children and persons that are under the surveillance/official care of such investors. 


Upon expiry of the term of residence permit investors and their family members are eligible to apply for the renewal. 


In collaboration with its partners, We will provide consultations and legal support to its customers regarding the investment and required documents preparation issues.

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