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Latvia Residence Program

Latvia is a baltic country in the northern Europe. Latvia joined the European Union in 2004 and the currency in Latvia is LVL (Latvian Lats) which is approx 2.08 US dollars.

Benefits
  • EU member country
  • Visa free travel to schengen and other EU countries
  • Possibility to invest in Real Estate
  • Affordable cost of living

Latvia offers a new residence program for investors and the residence program allows visa free travel in other European and schengen countries. This new program was adopted by latvian parliament and came into force on July 1, 2010.

As per the program a `Temporary Residence Permit` (TRP) is given to the foreign investor, for either deposit a money in a latvian bank or real estate or create a new business.

(i) Bank Term Deposit (Min EUR 300'000 which equivalent of LVL 200'00)

OR

(ii) Investment in Real Estate (Minimum EUR 72'000 in outside major cities or EUR 100'000 plus in Latvian major cities like Riga)

OR

(iii) Business Formation (Investment EUR 36'000)

In addition, our fee to assist you for getting residence permit can range from EUR 1500 to EUR 2000 if you prefer the real estate option.

The Latvia real estate option is the cheapest way to get residence permit in Europe but bank term deposit is the fastest method with minimal formalities. The deposit term in 5 yrs and interest guaranteed is usually about 5-6%. For starting a new business in Latvia, residence permit can be obtained through invitation only. For real estate investments in Riga and major cities, the minimum is EUR 150'000 and of other lesser known regions in Latvia the property investment should be a minimum of LVL 50'000 ( approx EUR 72'000).

Investors will be issued a `temporary residence permit` for period of 5 yrs with annual renewals. The permit issued allows visa free travel to all 25 schengen countries. It is also issued to any family members accompanying with the investor. The temporary residence permit grants the investor right to work and free movement to other European countries in schengen zone. The investor is free to leave the country anytime and is not required to stay permanently in Latvia.

Please Note: We do not offer Latvia residence program at this time. Please visit this website: http://www.latvia-immigration.com.

It is possible to apply for Latvia citizenship after 10 years of legal residence in Latvia. Latvia does not allow `dual citizenship`

We provide assistance in real estate, business immigration, residence, health insurance, accomodation and citizenship in Latvia. For more information on applicable fee and additional costs, please contact us or complete the below application.

Information Request / Online Application

If you are interested in applying online, please complete this short online application. One of our representatives will be in contact with you.

For any other information, please use this contact form.

 


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