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RESIDENCE PERMIT IN LATVIA
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Under Latvian Immigration Act foreign investors may apply for residence permit in Latvia on the following grounds:

1) investment of Euros 50k or more in the share capital of a Latvian company, or

2) purchase of a real estate in Latvia worths Euros 250k or more, or

3) deposit of at least Euros 280k into subordinated loan or bonds of a Latvian bank for five years, or

4) purchase of Latvian government bonds of Euros 250k.

 

Advantages of the Latvian program are:

Spouse, children under 18, and dependents of the investor qualify under investor's application.

Investors and their family are allowed to live and work in Latvia.

The residence permit allows visa-free travel to all Shengen Zone states.

Latvia imposes no residency requirements on holders of Latvian residence permits.

 

Procedure

Applications for the residence permits are considered within 5-30 days depending on amount of application fee paid.

Initially the permit is issued for 5 years subject to annual re-registration. Upon expiration of the initial term investors are entitled to renewal for another 5 years or, subject to passing a Latvian language exam, may apply for permanent residence permit. After 10 years residence in Latvia investors may apply for Latvian citizenship.

Obtaining of the residence permit normally takes 1-3 months.

PETROVS & PARTNERI offer foreign investors full legal support in obtaning the Latvian residence permits. Do call us +371 67035381, or email to general@petrovs.lv for FREE initial consultation.

 

 

 

 



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