Latvia Investor Residence Government Policy Every person that would like to stay in the Republic of Latvia for more than 90 days within a period of six months is required to obtain a temporary residence permit. You can send an invitation letter to facilitate Schengen visa. Latvia offers residence permits to those who invest in the country. You may learn the benefits of a European residency including free movement in Europe, access to health-care and education. The members of the applicant’s family, such as spouse and children under 18, may apply for a residence permit together with the applicant. Upon processing, the Office shall issue a Letter of Invitation after which the investor is required to finalize the mandatory investment. The cheapest investment for getting a European PR. There is no minimum number of days of physical presence in Latvia required in order to renew the residence permit. Benefits of Latvia Golden visa. Safe investment with profit Foreign nationals may apply for a residence permit in Latvia through various options. Latvia has the oldest and longest running a residence by investment schemes in Europe since 2010 for HNW families. SIA “Jurmala Invest” is giving consultancy services in Latvia for 15 years, Helping their custumers about: Registrar company, accountants, law services, choosing the right real estate investment, residence permits and more.. If you have funds to invest in a new or existing business in Latvia then a residence permit based on business investment might be an option for you. Contact us for the details. We give you a step-by-step description of the process and how to pay less money. You can invest in Latvindia project, which guarantees your investment. After that the investment limit rises to €500,000. Latvia offers residency by investment scheme through share capital investment. The video is an edited version of a previous webinar. The Latvia Immigrant Investor Program offers 4 investment options including a real estate investment option. If your budget is limited, simply invest in a trusted Latvian company, pay the fees, and get a European residence permit within three months. The new limit introduced in 2014 applies to the first 800 applicants. You invest in the equity capital of the company; thus, you will be a shareholder of the company. There are several qualifying options to obtain a residence permit through the Latvia Residence-by-Investment Program. Yes, you get back your 50,000 euro investment after 5 years, or you can keep your investment for another 5 years. Latvia has excellent English schools as well. Personal income tax rate at 23 %. As per Latvia’s Immigration Law, foreign nationals can apply for a Latvian residence permit by investing a certain amount in different types of assets: A residence permit can be obtained by purchasing two properties in Latvia for at least €250,000 in total. Five years after the program’s launch, Latvia’s economy received more than EUR 1.3 billion, of which more than EUR 1.1 billion was generated from the purchase of real estate by foreign investors. It contains our professional fee and all costs emerging in Latvia. Latvindia’s mission is to connect you to Europe and Latvia. 2. You invest your money in the equity capital of a trusted company (we suggest Latvindia) for 5 years. Invest 50,000 euro in a Latvian company It has to be taken into consideration, that the decision on granting of residence permit is valid for 3 months – if you do not receive the permit within this period, the documents will have to be submitted repeatedly. Will I be the owner of the company I invest? The Latvia Residency Program is one of the most affordable and quickest residency options in Europe. The associated expenses can be paid in stages over the course of five years. First, you can buy real estate in Latvia for at least EUR 250,000. Requirements. The company issues the invitation letter, which is required at the application. However, your startup company should pay at least 40,000 euro tax every year. Dividends received by individuals are taxed at 10 %. EUR 10,000 Government State fee A foreigner that has been issued a residence permit due to him/her making financial investment in a credit institution of the Republic of Latvia in the amount of no less than 280,000 euros shall additionally file a certification from the credit institution that the deposit agreement has not been terminated before the expiry of the deposit repayment term. Latvia Residency: Bank Deposit Investment. Your investment is guaranteed for this period. The program was launched in July 2010 by the Latvian government. Latvia launched a residence permit programme for investment in 2010. Yes. European Residency including work permit, commercial activities, and free travel in the Schengen Zone in just 2 to 4 months depending on Nationality. After arrival to the Republic of Latvia make an appointment and visit the OCMA in order to obtain the residence permit or to a regional division and receive a residence permit. We prepare the application form and other governmental documents. The Latvia temporary residence permit is extendable after 5 years . The individual will receive a 5-year resident permit; The residence permit must be renewed yearly at the Immigration Department in Latvia; C. Credit Institution Investment. Applicants may choose from one of the following options: The purchase of real estate of EUR 250,000, plus a one-time payment of 5% of the purchase price to the state budget. Approximately half of Latvia’s territory is covered by forests, offering many nature trails and parks. If your budget is low or if you want to move to Latvia. As we have received many requests to help immigration to Latvia, we created a project to facilitate the settlement of investors in Latvia. The Latvian real estate market is stable … EUR 50,000 non refundable Company Share Investment. Or you can renew your temporary residence permit. Although the Latvian residence permit by employment or by Assuming board members position are other … In return, you receive a residence permit for 5 years. If you have funds to invest, but prefer more security than can be offered by a business investment, then a residence permit based on financial investment in a Latvian Bank might be the option for you. You may invest in a Latvian property at least 250,000 euro and pay the government fee. Permanent residency You can also for long term resident of European Union status after 5 years of living in Latvia. See the official Latvian government website. Latvia is situated within Europe’s Schengen Area, on the Baltic coast. Visa-free access to Europe’s Schengen Area, No minimum stay required to be eligible for the residence permit renewal, Excellent transport links with Russia and other EU member states, The purchase of real estate of EUR 250,000, plus a one-time payment of 5% of the purchase price to the state budget, The investment of EUR 280,000 in the subordinated capital of a Latvian bank for a period of five years, plus a one-time payment of EUR 25,000 to the state budget, The investment of EUR 50,000 in the equity capital of a Latvian company (provided that the company annually pays at least EUR 40,000 in taxes), plus a one-time payment of EUR 10,000 to the state budget, The purchase of special-purpose interest-free bonds at a nominal value of EUR 250,000, plus a one-time payment of EUR 38,000 to the state budget. The Latvia Residence-by-Investment Program was launched on 1 July 2010 as an initiative to sustainably overcome the economic crisis of 2007– 2009. RCP is a leading independent immigration service firm, offering the best residency and citizenship by investment options in Europe. In addition there is a government processing fee of €25,000 or 5% of the property value. This European Golden visa program offers EU residency and citizenship in exchange for investment in real estate. If you live in Latvia for 10 years, you can apply for citizenship, and you will be an EU citizen. This is not an easy requirement for a new company. The applicant must also have a proven knowledge of the general history of Latvia and the national anthem. Latvia provides the cheapest investment option to immigrate to Europe. If your budget is limited, simply invest in a trusted Latvian company, pay the fees, and get a European residence permit within three months. Latvian residents are liable for personal income tax (PIT) on their worldwide income. According to the qualification requirements, foreign nationals may apply for a residence permit in Latvia through the purchase of real estate, or by making a subordinated loan (deposit) in one of the Latvian banks, or through the purchase of interest-free government bonds determined for special purpose. One–three months from submission of the application to approval, The right to live, work, and study in Latvia. PROFIT — Guaranteed refund of the invested 50,000 euro with a minimum yearly profit of 1,5%. Neither would you be asked to attend an interview or prove your knowledge of the Latvian language. Should you have any questions, or if you would like a detailed breakdown of the exact costs for your family, kindly contact us and we will be delighted to help you. You will get an easy to understand overview and all details of getting a Latvian residence permit by investing 50,000 euro in a Latvian company. Collect the documents Latvia offers excellent transport and cultural links with both Western Europe and Russia. 1. At the time of writing the homepage of Latio, one of the leading Latvian realtors, boasts around 1,300 advertisements which would allow buyers to qualify for a Golden Visa. See the official Latvian government website. Additional fees. A residence permit is a document that gives a foreign citizen the right to temporarily (a temporary residence permit) or permanently (a permanent residence permit) stay in the Republic of Latvia. A residence permit is necessary if you are willing to reside in the Republic of Latvia for a period of time exceeding 90 days within half a year counting from the first day of entrance. 3. First of all, LatviaPlus is not the usual business venture. Residence permit for the family Upon approval at the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor should visit Latvia in person within three months to collect their temporary residence permit in the form of an ID card. The investment of EUR 280,000 in the subordinated capital of a Latvian bank … Latvia is a baltic schengen member country which joined the European Union in 2004. Residence permit in Latvia based on financial investment in a Latvian bank. Citizenship The Latvia Residence-by-Investment Program is one of the fastest and most competitive programs in Europe. For additional information please refer to the homepage of OCMA. Latvia work permit can be obtained from the Office of Citizenship and Migration Affairs on the basis of visas and residence permits. The … You and your family do not have to live in Europe prior to applying for Latvia residence permit. The Latvian bank deposit is a safe and profitable investment option. Latvia introduced its golden visa programmein 2010. Share capital investor residence permit If you wish to obtain a residence permit in the Republic of Latvia, you may invest in the share capital of a company for the purpose of increasing thereof, or investing in, the share capital of a company upon founding of a new business company. Acquisition of a residence permit based on investment a Latvian bank is often a superior option for those who are looking to obtain a residence permit while ensuring a stable investment with a guaranteed return, rather than exposing themselves to the possible variable gains sometimes seen when investing … The second option is an interest-free government bond, also with a minimum requirement of EUR 250,000. Engage us The applicant must renounce their former citizenship in order to be granted Latvian citizenship, although some exceptions may apply. Examples of such programs are United Kingdom residence by investment program, Latvia residence by investment program and Belgium residence by investment program. After your permit has been granted, you pay the government fee, the balance of the administration fee and receive your residence cards. LATVIA RESIDENCE PERMIT. Latvindia helps you to find a job, rent a flat, and find a school for your children. Immigration - Latvia, Lithuania, Estonia. S tarting from July 2010, the Republic of Latvia offers foreign investors and business persons the golden opportunity of becoming a temporary resident (holder of Temporary Residence Permit – TRP) with a path to citizenship and access to the Schengen Area and the European Union countries with minimal bureaucratic requirements by making specified capital investment in Latvia. Investment visa . Thus, the period from 2017 to mid 2020 was €100 million. You miss the cheapest European residence permit, You should invest €50,000 in a Latvian company; we suggest. EU Long Term Residency Will I get back my investment after 5 years? After a further 5 years of holding permanent residence, they become eligible for Latvian citizenship. The application procedure for a temporary Residence Permit in Latvia (Latvia Immigrant Investor Program) should be filed to the appropriate regional office of the Office of Citizenship and Migration. You should collect and legalise all the required documents (see above). There are several ways to obtain a residence permit in Latvia for foreign persons.Currently the Latvian residence permit by Investment ( Buying a real estate – Long term deposit in bank ) is the best solution to obtain a residence permit in Europe, for those which can afford it. After five years of receiving the residence permit, the applicant may apply for a permanent residence permit. Some Russian websites continue to advertise the Latvian program. Support for moving and living in Latvia There are three options for obtaining investment residency in Latvia. We suggest to invest in LatviaPlus and try to run your own business separately. Financial Requirements. 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 As a Latvian resident, your children will have free access to the Latvian education system from nursery to the university. You and your family can move and settle in Latvia, in a European country. Finally, you can invest in a bank bond for a minimum of EUR 280,000, and receive interest on your investment. File your application at a Latvian Embassy A minimum investment of EUR 50,000 is required to receive temporary residence permit (5 years) in Latvia. You may deposit 280,000 euro as a subordinate liability in a Latvian bank, and pay the government fee. You have book an appointment (we assist you) and visit the dedicated Latvian Embassy and file your application. We offer you 3 investment options with different benefits: If you wish to apply for a residence permit in the Republic of Latvia, you can purchase a piece of functional real estate in Riga or Jurmala, or in Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils or Stopini municipalities. There are several qualifying options to obtain a residence permit through the Latvia Residence-by-Investment Program. The program was launched on 1 July 2010 by the Latvian government as an initiative to sustainably overcome the economic crisis of 2007–2009. A residence permit is issued by the Office of Citizenship and Migration Affairs in Latvia (OCMA). Total Non-Refundable shared Capital Investment is around EUR 85000 to qualify for Temporary Residence Permit. As Latvia is part of the Schengen zone of Europe, your residence card allows you to travel freely throughout Europe without the need for a Schengen visa. Your investment will be refunded after 5 years with interest. This indicates a decline in investor interest in the program. If you invest in LatviaPlus you may get profit. FREE RENEWAL — Guaranteed refund of the invested 50,000 euro, with free yearly registration and a free renewal after 5 years. Latvia residence permit through investment in credit institutions of Latvia List of requirements: Minimum investment amount - EUR 286,000 Minimum term - 5 years without the right to withdraw funds until the end of term One time non-refundable duty of EUR 25,000 must be paid to the Migration Department of Latvia upon a favourable decision. Latvia residence by investment program was launched in 2010 in order to attract foreign investors. Travel to Latvia and get your residence card Riga, its capital, was founded in 1201 and is a UNESCO World Heritage Site. You and all of your family members, included in your application, should travel to Latvia to obtain the residence permit cards. Click the Play button and play in full screen. Have one of our qualified advisors contact you today. As a result, you may move to another EU country, you can live, study and work in that country, like Germany or Netherlands. Support for education of your children in Latvia. Baltic Legal offers useful advice and high quality legal support for obtaining temporal residence permit in Latvia and Lithuania through investments. It is possible to receive residence permit for up to 5 years in Latvia and for up to 1 year in Lithuania, that can be renewed at the end of this term. You should keep your property as long as you want a residence permit. Latvia offers residence permits to those who invest in the country. How safe is the investment in LatviaPlus, and what profit will I get? A residence permit is needed if you want to stay in the Republic of Latvia or in Schengen area for more than 90 days in a six-month period. A decision on granting a temporary residence permit is adopted within 30 days after receipt of all documents, whereas the residence permit is prepared within 10 business days. If the employer intends to hire a foreign citizen, he is obliged to register a vacancy at the State Employment Agency at least one month before applying to the SEA for approval of a visa invitation or sponsorship for a residence permit. You can invest in our dedicated investment company called LatviaPlus. Pay a government fee of €10,000 AFTER the approval of your application. What is the minimum investment (in euro)? Latvia Golden visa offers the cheapest real-estate investment … Most common investment options under almost any residence by investment program is Investor visa or Entrepreneur visa; they target wealthy and high net worth individuals. © 2021 Henley & Partners Holdings Ltd All rights reserved. To qualify for a permanent residence permit, the candidate must have resided in the country for four years out of the five-year period and should have successfully passed the basic Latvian language test at Level A2. It wasn’t that there weren’t enough properties to go around; Riga’s steeple-studded skyline is once again dotted with cranes. Pay an all-inclusive administration fee depending on your family size. The Latvia RBI program provides a 5-year resident permit to approved applicants, after which they can apply for permanent residence. Vija Gailite, Latio’s head of sales, said t… Once you have decided to start your Latvian business investment, you have to sign a contract with us and transfer the first instalment of the administration fee. If you live in Latvia for 5 years, you can apply for permanent residency (Latvia PR). Latvia residence can be obtained by Business Incorporation under Latvia Business Immigration Program where the Investor will be appointed as a Board Member of the Company. Latvia Business Immigration Program . Applicants may choose from one of the following options: The processing of documents takes approximately 30–90 days. Step 7 – Obtain the residence permit. NEW LIFE — If you settle and live in Latvia, Latvindia can provide you with a loan of maximum 40,000 euro. The residence permit is valid for five years with the requirement of annual renewal of the ID card. LatviaPlus has no chance for bankruptcy. Its main activity is to treasure the funds of the investors. In return, you receive a residence permit in Latvia. Latvian immigration law provides for the issuance of temporary residence permits to immigrant investors who commit to investing in: Latvindia offers: Yes. Though Latvia might not be the first country that would come to your mind when choosing a residence destination, we’ll tell you why it’s worth considering it. Investors can gain a five year residency permit by investing €250,000 in property. Since then, the programme has brought the country €1.5 billion, of which Latvia received €1.4 billion until July 2016. 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