Latvia Permanent Residency
LATVIA PERMANENT RESIDENCY:
- Methods of Investment for Permanent residence permit:
- Real estate investment for 250,000 Euros plus a one-time payment of 5% of the purchase price to the state budget
- Investment of 280,000 Euros in the subordinated capital of a Latvian Bank for 5 years
- Investment of 50,000 Euros in the equity capital of a Latvian company
- Investment of at least 100,000 Euros in a business company with the number of employees exceeding 50
- Purchase of special-purpose interest-free bonds at a nominal value of 250,000 Euros - Max ages that Children can be included on a Permanent residence permit application:
- Below 18 years old are Eligible - Years for Permanent residence permit to lead to Citizenship:
- Citizenship can be obtained after 10 years of legal residence in Latvia if the applicant has been a permanent resident for the last five years preceding the date of submission of the application. To qualify for citizenship, the applicant must physically reside in Latvia for at least four out of the last five years - When exactly does an applicant become a Permanent residence permit holder?
- After five years, the holder of a temporary residence permit may apply for permanent residence - When does a Permanent residence permit holder become a Citizen?
- Naturalize for citizenship after 10 years - Visa-free access to the entire Schengen Area
- Ability to work and live in the country
- No minimum stay is required to be eligible for the residence permit renewal
- Fast-track application procedure within 3-4 months
- Russian is widely spread and spoken
- No interviews, No language tests
- Immigrate to Europe with family and children
- Allows Dual citizenship
- Very affordable cost of living
WHY LATVIA:
- Latvia has a very stable bureaucratic setup; this is very useful for foreign investors looking to establish their business base in the country since they can do it without any hassle
- Latvia also has a transparent and non-biased legal and judicial system in place. it allows the foreign companies to settle any issues fair and square
- Latvia is a part of the European Union (EU), foreign investors in the country are provided free access to the market of other countries which are part of the EU. This is a very significant advantage for investors since they can do business without borders and expand their business base
- Latvia has a very global business outlook. The work culture throughout Latvia is world class, most of the business enterprises in the country work according to the standards of other European nations
- Latvia has 12,000 rivers and 3,000 small lakes – perfect if you like water sports and nature
- The labor force is the backbone of any industry and in Latvia, there is no shortage for it, foreign investors in Latvia can have access to the huge base of highly educated and technically qualified workers. The labor charges in Latvia are also cheap as compared to other countries in the European Union
ABOUT LATVIA:
- Official Name: Republic of Latvia
- A Form of Government: Parliamentary republic
- Capital: Riga
- Population: 1,927,501
- Official Language: Latvian language
- Currency: Euro
- Area: 64,559 km2
- Education: Latvian language
- Culture: mixed culture (Latvian, Belarus, Sweden)
- Environment: high level of pollution
- Health Care: high standard 4th in Europa
- Taxation: very low
- Tourism: 59th world wide
- Weather: low temperate climate
- Politics: stable
- Schengen: yes
- Religion: Christian
QUALIFICATION CRITERIA:
- Investment in real estate, subordinated capital, Latvian company or government bonds
- Proof of income
- Original and photocopy of passport
- One passport-size photo
- Evidence of Health Insurance
- Evidence of Residential Address
- Receipt of payment of fees
- Documents certifying Business Investment
- Income Tax Return (ITR)
- A copy of your business license (if self-employed)
- Employment contract (if employed)
- Bank statement of the last 6 months
- Valid passport
- Clean criminal record