RESIDENCE IN LATVIAThe program was introduced in 2010. It is one of the most inexpensive European programs for obtaining a residence permit
by means of real estate purchase. The program is especially attractive for Russian-speaking investors regarding
adaptation in the country with the familiar language and culture.
Time-effective procedures: 1 – 3 months.
For residence permit extension no requirement to live in the country.
Visa-free travel to all the countries of the Schengen Area.
Russian as one of the working languages in Latvia.
ABOUT THE PROGRAM
Alongside with an investor (a citizen of a non-EU country), his/her spouse, children and parents can also apply for the residence.
Latvia offers several investment options:
- Purchase of real estate for the amount of min. EUR 250,000 + one-time state tax amounting of 5% of the property value.
- Investment for the amount of EUR 50,000 in the capital assets of a Latvian company + one-time state tax of EUR 10,000 + annual due of EUR 40,000.
- Investment of EUR 280,000 into subordinated capital of a bank + one-time state tax of EUR 25,000.
- Interest-free bond purchase for the amount of EUR 250,000 + payment of EUR 38,000to the national budget.
Documents’ processing and consideration takes from 1 to 3 months. Residence permit is issued for 5 years with the condition of annual renewal of the resident card. Living in the country is optional. By completing of the 5-year residence permit period, you can apply for a permanent residence permit in Latvia.