Latvia passport

Latvia offers 5 year economic residence permit for Immigrant investors

Latvia immigrant investor program offers economic residence permit for foreign investors who invest more than 50,000 euros in the economy. Family members also qualify for residence permits in Latvia. The investor visa scheme was started in 2010

 

Below are the investment options for economic residence permit in Latvia which offers investment options in real estate , business and guaranteed government stocks.

 

1. Business Capital Investment

 

If the foreigner has invested in the equity capital of a capital company by increasing it, or has invested in the equity capital of the capital company, founding a new capital company, and requesting for the first temporary residence permit has paid EUR 10 000 into the State budget, as well as the investment made is at least:

a) EUR 50 000, and it has been performed in a capital company, which employs no more than 50 employees, the annual turnover or annual balance of which does not exceed EUR 10 million. Upon investing in the equity capital of one capital company, a temporary residence permit shall be issued to no more than 10 foreigners, if each of them has made the investment laid down in this paragraph and paid EUR 10 000 into the State budget,

b) EUR 100 000 and it has been performed in the capital company, which employs more than 50 employees and total annual turnover or annual balance thereof exceed EUR 10 million,

c) EUR 100 000 and it has been performed in the equity capital of a capital company, which together with one or several subsidiaries registered in the Republic of Latvia employs more than 50 employees and total annual turnover or annual balance thereof exceed EUR 10 million;

 

Residence permit for 5 years

 

2. Real Estate Investment

If the foreigner in Riga or Jurmala, or in Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils or Stopini municipalities has acquired and owns one functionally connected immovable property (with exception of the case when the immovable property represents a vacant land), which value is at least EUR 250 000, or outside the said administrative territories – no more than two immovable properties (with exception of the cases when the immovable property represents a vacant land) and each of them represents one functionally connected immovable property, total value whereof is at least EUR 250 000, if conditions as follows are present at the same time:

a) he or she does not have and has never had payment debts of immovable property tax,

b) the total value of immovable properties was paid for by non-cash settlement,

c)immovable property which has been acquired from a legal person registered in the Republic of Latvia or a European Union Member State, European Economic Area State or the Swiss Confederation, which is a taxpayer in the Republic of Latv ia within the meaning of the laws and regulations governing the field of taxes of the Republic of Latvia, or from a natural person who is a citizen of Latvia, a non-citizen of Latvia, a citizen of the European Union or a foreigner who is staying in the Republic of Latvia with a valid residence permit issued in the Republic of,

d) The cadastral value of immovable property at the time of acquisition thereof was not less than EUR 80 000. If a foreigner has acquired two immovable properties outside Riga or Jurmala, or in Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils or Stopini municipalities, cadastral value of each immovable property at the time when it is acquired is at leastEUR 40 000. If the cadastral value is less than that indicated in this Sub-paragraph, the value of immovable property may not be less than EUR 250 000 according to the market value of immovable property determined by a certified assessor of immovable or, if a foreigner has acquired two immovable properties, — the market value of each immovable property may not be less than EUR 125 000,

e) upon requesting the first temporary residence permit, he or she pays five per cent of the value of immovable property into the State budget,

f) the composition of the immovable property does not include land for agricultural use or forest land:

 

Residence permit for 5 years

 

3. Bank deposit with financial institution

If the foreigner has subordinate obligations with a credit institution of the Republic of Latvia in an amount of not less than 280,000 euros and the term of transaction entered into with such a credit institution is not less than five years and, requesting the first temporary residence permit, he or she pays EUR 25 000 into the State budget:

Residence permit for 5 years

 

4. Government bonds/stocks

 

If a foreigner purchases interest-free State securities dedicated to a specific purpose with the nominal value EUR 250 000 and pays EUR 38 000 into the State budget:

Residence permit for 5 years

 

Please contact us for more information.