Latvia Golden Visa - Permanent Residency in Latvia

  Latvia is a baltic country in the northern Europe. Latvia is also a schengen member country which joined the European Union in 2004 and the currency in Latvia is Euro.

Benefits

  • EU schengen member country
  • Visa free travel to schengen and other EU countries including Switzerland
  • Real Estate Investment
  • Low cost of living
  • Cheapest golden visa in Europe
  • Permanent residency for spouse and children
  • No requirement to live in Latvia (visit once a year)
  • Ease of doing business in Europe

Latvia offers a new residence program for investors and the residence program allows visa free travel in other European and schengen countries.

As of 2017, we are pleased to announce that we are assisting clients in Latvia on business immigration and real estate. We offer 3 packages for Latvia


Latvia Golden Visa Packages

1. Latvia Business Immigration Package (EUR 85,000)

Get residency in Latvia through company investment (The investor will become a board member or similar to qualify for TRP). The total non refundable costs will be around EUR 85,000 payable in installments and it takes 2-3 months to receive your Temporary Residence Permit (TRP). This is a special immigration option for people who can’t be in Latvia all the time. Permanent Residence permit (PRP) after 5 years of living in Latvia.

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2. Latvia Real Estate Investment Package (EUR 250,000 + 5% state fee)

Just buy a real estate in the Latvia, you will receive a Temporary residence permit (TRP) in Latvia which is valid for 5 years. The total costs comes starting around EUR 275,000 for the real estate and processing time is about 3 months to receive the residence permit based on property investment in Latvia.

3. Bank Term Deposit (EUR 280.000)

Subordinated Term depositor Bonds from EUR 280.000 Term 5 Years + € 25.000 to the state budget. We assist the Investor in the process to receive permanent residence permit for family valid for 5 years.

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The Latvia business immigration is the cheapest way to get residence permit in Europe. For the golden business immigration option the total non refundable amount is € 80.000 and it will be payable in instalments. After 5 years we will file the permanent residency application for you. Certain countries carry a surcharge for additional administrative work. Please ask for details.

The minimum real estate investment is EUR 250,000 plus a 5 % State fee on the purchase price.

Residence Permit

Non-EU investors will be issued TRP `temporary residence permit` with annual renewal. You have to visit Latvia while renewing the permit, takes 7-10 days. The TRP residence permit issued is a biometric card (replaces visa sticker) allows visa free travel to all 26 Schengen countries including Switzerland, Germany, France etc. plus non-schengen countries Romania, Bulgaria, Cyprus and is allowed to stay 90 days in every 6 month period in Schengen countries. It is also issued to any family members accompanying with the investor.
The temporary residence permit (TRP) grants the investor right of free movement to other European countries in Schengen zone. The investor is free to leave the country anytime and is not required to stay permanently in Latvia. If the foreigner wants to apply for "permanent residence permit" after 5 years, he/she must have continuously stayed in Latvia for 4 years and 2 months for the past 5 years. Exception is the business immigration option.

Non EU citizens

Non EU citizens have to fulfil one of the below criteria to receive Temporary Residence Permit (TRP) based on investment activity such as real estate, board member or director in a company or bank deposit.

  1. The Investor, spouse and minor children, as well as dependants may apply for the residence permit valid for the period of 5 years.
  2. After a lapse of five years, the temporary residence permit (TRP) may be extended.
  3. TRP grants an investor the right to work in Latvia*;
  4. TRP is also granted to an investor’s family members;
  5. TRP does not oblige an investor and members to reside permanently in Latvia;
  6. TRP is issued for a period of five years;
  7. TRP shall be registered annually;

Latvia Property Investment

Latvia offers golden visa (permanent residency) to foreigner investors on the basis of acquisition of real estate for EUR 250,000. There is a 5% additional state fee EUR 12,500 paid to the Government which comes total to EUR 262,5000 to get golden visa in Latvia through property investment.

  • Cheapest golden visa in Europe
  • Profitable real estate investment in Europe
  • Residency in EU schengen country
  • Low cost of living
  • Visa free movement in Schengen.
  • Family and children qualify for latvian residency
  • No requirement to live permanently in Latvia (visit once a year)

Investors can buy a property (apartment, luxury home) in Riga, Jurmala or major cities. With Latvia considered to have one of the lowest house prices in Europe, foreigners now account for 70% of all property transactions mainly from Russians, Chinese,  Ukrainians and Uzbeks. 

The property prices of new apartments in Riga capital are priced from €1,450 to €3,800 per sq. m. in 2016.

Investor and family qualify for 5 year residence permit issued by Latvia which can be extended thereafter. There are residency requirements. Permanent residency is possible after living 5 years uninterrupted in Latvia, which then leads to Latvian citizenship after another 5 years, speaking Latvian language and fully integrating to latvian culture.

In September 2014, Immigration Law amendments increased the threshold for obtaining a residence permit and introduced other conditions and costs, if a foreigner’s real estate was registered in the Land Register after September 1, 2014:

  • Minimum transaction value of real estate located anywhere in Latvia must be €250,000.
  • The total cadastral value of the property at the time of acquisition should be at least €80,000.
  • Payment of a state budget contribution worth 5% of the real estate’s transaction value.

Latvia is the fastest growing among the Baltic States. The GDP growth was 5, 5% in 2011 and 6, 8% in the first quarter of 2012. Latvians labour costs are low. Additionally, foreign investment is pouring into the country, fuelling sustained economic growth of more than 6% a year. TAX The standard rate of tax for a corporation in 2013 is 15%.

Real estate

In 2012 foreigners were mostly interested in the possibility to receive a residence permit by purchasing real estate (apartment) in Latvia. During the last year as of 2012, 2,435 foreigners requested a residence permit based on the fact that they themselves or their family members had purchased real estate in Latvia.Foreigners showed the greatest interest in apartments located in Riga and Jūrmala. Foreigners also choose cities nearby Riga such as Babīte, Mārupe, Garkalne, Carnikava, Saulkrasti. Ādaži, the other cities outside Riga planning regions are: Ozolnieki, Amata, Cēsis, Iecava, Madona, etc. to buy a property. 

Latvia Passport

It is possible to apply for Latvia citizenship after 10 years of legal residence in Latvia.

We provide assistance in real estate, business immigration, residence, health insurance, accomodation and citizenship in Latvia. For more information on applicable fee and additional costs, please contact us or complete the below application.
 
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We provide assistance to our clients in company formation, immigration, visa application, real estate, residence permit, tax planning in Latvia.

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Why Latvia?

Latvia is a EU schengen member country. The cost of living in Latvia is cheaper compared to other european countries and you can take advantage of cheaper real estate prices in Latvia.

How does it work?

1. As a foreigner, just buy a property or apartment in Latvia and you can qualify for long term 5 yr temporary residence permit.

2.As a foreigner, just become a board member, council member or procura holder and get a 5 yr temporary residence permit.

Costs & Expenses

The total costs will come around EUR 80,000 to receive a residence visa in Latvia.

Documents Required

1. Police Clearance Certificate (apostilled)
2. Passport copies (apostille).
3. Sale deed of real estate purchase.
4. Health insurance

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Please complete this Free quote and we will be able to assist you.

We can arrange for meetings if you are visiting Latvia personally.