Under Immigration Act foreign investors may apply for residence permit in Latvia. In order to qualify for the residence permit one has to:
1) invest Euros 50k or more in the share capital of a Latvian company, or
2) purchase real estate in Latvia for min. 250k, or
3) invest at least Euros 280k into subordinated capital of a Latvian bank for five years, or
4) purchase Latvian govenment bonds of min. Euros 250k.
Spouse, children under 18, and dependents of the investor qualify under investor's application.
Investor and his family members are allowed, but not obliged to live and work in Latvia.
The residence permit allows visa-free travel to all Shengen Zone states.
Latvia imposes no residencey requirements on holders of Latvian residence permits.
Applications for the residence permits are considered within 5-30 days depending on amount of application fee paid.
If you are looking to establish residence to facilitate travel, to open a business in Europe, and to provide a secure base for your family - Petrovs & Partneri remain at your service.