RESIDENCE PERMIT IN LATVIA
The permit gives visitor the right to spend an unlimited period of time inside the country and many other Schengen states, Latvia does not require persons to stay in Latvia permanently. Latvia Residence Permit options are unique, you can get it by making passive investments in Real Estate or subordinate capital/financial instruments of a Latvia based financial institution. The Residence Permit application process is smooth with the processing time being just 30 days or even less.
RESIDENCE PERMIT PROGRAM
- by investing in Real Estate
- by investing in Equity Option (Company)
- through investments in Subordinate Capital(Bank-long term deposit)
- based on your employment contract (Work permit)
- EU Blue Card(RP based on employment contract)
1) INVESTMENT IN REAL ESTATE
If you have property Latvia amounting to at least EUR 250 000, you can file for RP.
The funds must be transferred from your bank account to the seller’s. There should not be any tax debt on property in Latvia.
2) INVESTMENT IN EQUITY CAPITAL
Investments of at least Euro 35 000 should be made into equity of a limited liability company.
– The Residence Permit application can be filed and approved with minimum equity contribution of Euro 35 000;
– EUR 40 000 must be paid in taxes every next year;
– The Residence Permit is issued for 5 years with extension required at the end of one year;
You can use this option by investment in a new entity or by investment in equity of already operating company.
3) INVESTMENT IN SUBORDINATE CAPITAL
This is the shortest and the quickest way of obtaining Latvian Residence Permit. You just need to make a financial investment in tune of Euro 280 000 in subordinated capital of a credit institution (debt or debentures) or a term deposit. The deposit term is irrevocable 5 years.
4) EMPLOYMENT CONTRACT
Allows you and your family to work in Latvia and travel to all Schengen Zone countries.
BENEFITS FROM TRP IN LATVIA
Unrestricted movement in Schengen area
Being member of European Union and Schengen treaty Latvia offers an incomparable advantage to the permit holders to gain freedom to an unrestricted movement in the EU member countries.
Long duration of residence permission to stay in the country
Latvia Residence Permit has a validity of 5 years permitting a stay in the country through the extent of validity of the entry permit.
Multiple entries into Europe
Once you obtain this Residence Permit you are eligible for multiple entries into Latvia (without any limits) and other EU states.
No specific residence fulfillment requirements
You do not need to reside in Latvia for a relevant period in the country to retain your Residence Permit status.
Bring your family along
Residence Permit allows your family to accompany you to this Baltic state and enjoy similar facilities as you while being in the country.