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Introduction to Latvia Relocating to Latvia Residency in Latvia: company investment Residency in Latvia: bank deposit Residency in Latvia: real estate

Residence permit in Latvia

Investment in local company50 000 EUR
State budget contribution10 000 EUR
Maximum number of employees50
Maximum annual turnover10 000 000 EUR
Taxes to be paid in one year40 000 EUR
Application state fees1 000 EUR
Length of the process1 - 3 months
Visa-free travelEuropean Union

Latvian Immigration Law provides several investment options for obtaining residency in the country based on different residence permit programs, including receiving a temporary residence permit (TRP) and a permanent residence permit (PRP) afterwards.

Choosing correctly between the available options is strategically important for each foreigner and his family members relocating to the country when it comes to making plans for the future.

According to official data of Latvian Office of Citizenship and Migration for 01.01.2017, a total amount of TRP issued on the basis of company capital investment is 482. It is rated as the least popular type of investment in comparison with other available investment types.

Residence for investment program: business investment

Residence permit program in Latvia based on business investment offers foreigners great opportunities to invest their financial means in a new or existing business in Latvia with the aim of obtaining country’s residency. This type of investment provides convenience in terms of setting up a business within EU and making business trips while enjoying a visa-free policy of the Schengen Area.

If you have any questions regarding the procedure or you are willing to apply – contact our agents now!

Eligibility

In Latvia a foreigner is eligible to apply for a residence permit, if he or she has reached legal age of 18 years, has no criminal record, does not have any real estate purchase debts, has a legal source of income and can meet all the investment requirements listed below. It is also possible to submit a request for family members – main applicant’s children under the age of 18 and spouse.

Requirements

In order to acquire a temporary residence permit of Latvian Republic on the grounds of investing into company equity capital several requirements must be met. However, there are several options for investment.

Major requirements

To acquire a temporary residence permit of Latvian Republic one of the following options must be complied with.

All fees and extra costs should be covered as well

State fees and costs

In order to successfully apply for a residence, following fees are involved:

Documents

In order to receive a temporary residence permit in the Republic of Latvia the foreigner must present a valid travel document and submit the following documents:

Timescales

General time frames for obtaining the temporary residence permit are 1-3 months once the formalities of making an investment are completed (1-4 weeks). However, there might different timescales applied by the local immigration authorities on case-to-case basis.

Annual extension

After a temporary residence permit is issued – it must be registered on annual basis. Annual extension takes 1 to 2 weeks and is valid 1 year.

Benefits of holding Latvian temporary residence permit

While Latvian residence permit have a complex procedure to undergo, once received – it grants numerous advantages to its holder, including EU free travel rights and easy extension procedure, as well as:

Permanent residence application

After acquiring temporary residence, if the foreigner lives in Latvia for at least 1460 days (4 years) within next 5 year period – he or she may apply for a permanent residence.

Otherwise a person can reapply for another 5 years of temporary residence upon expiration.

In case you still have questions – check our F.A.Q. or contact us directly.