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Residence permit of Latvia through investment

Foreigners in Latvia can obtain a residence permit in exchange for investments in the economic development of the state. A residence permit is issued for a period of 5 years, and then the investor is allowed to apply for permanent residence in Latvia and subsequently apply for citizenship of the country. Together with the main applicant, obtaining a residence permit is also possible for the spouse, as well as for minor children who are financially supported by the investor. To maintain a residence permit and its extension, it is enough to visit Latvia once a year.

The main requirements for obtaining a residence permit in Latvia are:

  • age of majority;
  • the applicant's nationality of a non-EU country;
  • no criminal record;
  • availability of an official source of income and valid travel documents.

The process of consideration of the application and issuance of a residence permit is 3 months.



Possibilities of the Latvian residence permit:

  1. visa-free travel across the borders of the Schengen states up to 90 days in half a year;
  2. obtaining Latvian citizenship for close relatives;
  3. permanent residence in the territory of Latvia;
  4. free medical care in Latvian clinics.

STAGES OF OBTAINING A RESIDENCE PERMIT IN LATVIA:

Preparation of documents;

Obtaining the approval of the government of Latvia;

Granting a residence permit.

Required documents:

payment of state fees and duties;

investment amount;

a valid health insurance policy;

contract for the purchase / lease of housing;

a health certificate issued by a Latvian medical institution;

confirmation of the absence of tax debt or an agreement with a Latvian bank.

Investment programs:

  1. Investment in real estate:
    - purchase of one or more real estate objects in Latvia in the amount of 250,000 €
  2. Government securities:
    - purchase of interest-free special-purpose bonds with a value of €250,000 or more
  3. Into the capital of Latvian banks:
    - 280,000 € in the subordinated capital of a Latvian credit institution for a minimum period of five years
  4. In the fixed capital of the enterprise:
    - to the share capital of a new or existing Latvian company, from €50,000 with up to 50 employees and annual turnover/balance up to €10,000,000
    - from 100,000 € with more than 50 employees and an annual turnover/balance of more than 10,000,000 €

Minimum investment amount: from 60 000 €

Receipt time: 2/3 months



Cost of support for obtaining a residence permit in Latvia:

  • 30,000 euros per applicant;
  • 60,000 euros for spouse and applicant;
  • 80,000 euros for the applicant’s spouse and one child;
  • 120,000 euros for the applicant’s spouse and two children;
  • 20,000 for each additional family member.

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