A Baltic country in Northern Europe, Latvia offers temporary residence to immigrants who invest in a new or existing Latvian company or in Latvian real estate. Residency permits will also be available to those who make a deposit in a Latvian credit institution.
Holding a Residence Permit in Latvia entitles the investor to the following benefits:
- Permission to reside in the country for a period longer than 90 days.
- Visa-free travel to Schengen member countries.
- Visa-free travel to other EU countries.
- The option to apply for a Permanent Residence Permit after five years.
- Automatic Residence Permits for applicant’s spouse and minor children.
- Access to all rights that a Latvian citizen is entitled except: the right to vote, the right to hold government positions, and the right to run in elections.
|Country Size||64562 km2|
|GDP (billion current USD)||48.53 (2014 est.)|
|Earning per capita (current USD)||23,900 (2014 est.)|
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|Cost Of Living||Click Here|
Investment Requirements: Latvia Immigrant Investor Program
|Equity Investment in a new or existing company||Minimum 35,000 EurosMinimum may be raised to 150,000 Euros depending on workforce, turnover, and tax contribution of the company|
|Real Estate registered after August 31st, 2014||Purchase of real estate valued at more than 250,000 Euros|
|Bonds||Purchase of interest-free bonds with a nominal value of more than 250,000 Euros|
|Deposit in credit institution||Deposit of minimum 280,000 Euros for a term of more than five years|
Fees: Latvia Immigrant Investor Program
|Examination of the documents|
|Within 30 days||142.29 Euros|
|Within 10 business days||284.57 Euros|
|Within 5 business days||426.86 Euros|
|State fee for examination of documents|
|Within 30 days||71.14 Euros|
|Within 10 business days||142.29 Euros|
|Within 5 business days||213.43 Euros|
|Fee for a request submitted for approval of an invitation|
|Additional fee for every person above age of 6 years included in the request for an invitation||2.85 Euros per person|
|Additional fee for every person up to age of 6 years included in the request for an invitation||1.42 Euros per person|
Processing Time: Latvia Immigrant Investor Program
|Processing Time||Reply within 90 days|
|Language Requirements||Basic knowledge of English|
Documents Required for Residence Permit in Latvia
Documents Required for Latvia Immigrant Investor Program
- Application Form
- Proof of subsistence
- Proof of residence in Latvia
- Proof of payment of state taxes
- Proof of investment
- Proof of good character
- Proof of health insurance
- Medical Certificate
Application Procedure: Latvia Immigrant Investor Program
The application procedure for a temporary Residence Permit in Latvia (Latvia Immigrant Investor Program) should be filed to the appropriate regional office of the Office of Citizenship and Migration. Upon processing, the Office shall issue a Letter of Invitation after which the investor is required to finalize the mandatory investment. The Residence Permit shall be registered after the applicant submits documentary proof of investment, and the Office of Citizenship and Migration completes an examination of the documents, an interview, and all other necessary verifications.
Click here to learn more about the application procedure and various government policies governing the Residence Permits issued by Latvia.General Information: Contact us to receive more information about this article.
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