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Latvia Investor Residence Government Policy

Every person that would like to stay in the Republic of Latvia for more than 90 days within a period of six months is required to obtain a temporary residence permit. Latvian immigration law provides for the issuance of temporary residence permits to immigrant investors who commit to investing in:

    1. Equity Investment in new or existing company
    2. Real Estate
    3. Deposit in a credit institution
    4. Investment in Bonds.

Inclusion of Family Member: Latvia Investor Residence Programme

The following family members are entitled to apply for a residence permit along with the investor:

  1. Spouse
  2. Minor children including children under guardianship of applicant.
  3. Persons under guardianship of the applicant.

Duration of Permit: Latvia Investor Residence Programme

The temporary residence permit for all three classes of investors shall be issued for a period not exceeding five years.
The permit shall be registered annually.

Registration of Permit

Registration of Permit

The investor must personally submit all required documents for the registration of a valid temporary residence permit. The application must be filed with the Office of Citizenship and Migration within 30-90 days prior to the expiry of the term of registration of the permit.

A letter of invitation approved by the Office is required for registration only for investors investing share capital in a Latvian equity company.

The following documents must be submitted for registration of the residence permit:

  1. Valid travel documents.
  2. Proof of health insurance policy.
  3. If the applicant is investing in real estate, the applicant must submit proof of absence of real estate tax debts.
  4. If the applicant is investing through deposit with a credit institution, the applicant must submit a certificate issued by the institution proving that the deposit agreement has not been terminated before the expiry of its term.
  5. An applicant investing share capital must submit proof that the company paid taxes and fees of at least EUR 40,000 during the previous year.
  6. Investors in all three classes of investment must submit proof of payment of state social insurance and personal income tax contributions, providing such documents are available to the investor.

The decision on whether to approve the permit shall be taken after:

  1.  Examination of the documents filed by the applicants, and
  2. An interview, and
  3. Verification of other information.

Fees: Latvia Investor Residence Programme

Examination of documents submitted by share capital investors, real estate investor, or deposit investors
within 30 days EUR 142.29
within 10 business days EUR 284.57
within 5 business days EUR 426.86
State fee for Examination of documents submitted by share capital investors, real estate investor, or deposit investors
within 30 days EUR 71.14
within 10 business days EUR 142.29
within 5 business days EUR 213.43

Contesting A Negative Decision

The inviter, in cases concerning a share capital investor, and the applicant investors, in all other cases, can contest a refusal to issues a residence permit within a period of 30 days from the day that the decision was made.

The contestation application must be addressed to the Head of the Office of Citizenship and Migration Affairs

Health Insurance Requirements

Upon receipt of a temporary residence permit, the applicant shall present the following documents:

  1. Proof of valid health insurance policy obtained for a term of one year,
  2. Health certificate issued by a Latvian health care institution certifying the applicant does not suffer from tuberculosis in an active phase.

Latvia Permanent Residency for Investor

According to Section 24 of the Immigration Law, a foreigner who has continuously resided in Latvia with a valid temporary residence permit for a period of more than five years can apply for a Permanent Residence Permit.

The law allows the Minister for the Interior to issue a permanent residence permit even if the residency requirements are not met provided it is in the State interests of Latvia.

The permit shall be registered once in every five years.

Fees: Latvia Investor Residence Programme

State fee for the examination of the documents submitted for the registration of a permanent residence permit
within 30 days EUR 35.57
within 10 business days EUR 99.60
within 5 business days EUR 170.74

Related Links:

Rejection of Application

 

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