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.
- 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.
Note: We do not assist with Latvia residence program. Please contact this latvian company directly: http://www.latvia-immigration.com.
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.
1. Bank Term Deposit (EUR 300,000 which equivalent of LVL 200,00)
2. Real Estate Investment(Minimum EUR 250,000 + state fees in in Latvian major cities like Riga)
3. Business Formation (Investment EUR 200,000)
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.
Latvian Residence Permit
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.
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.
If you are interested in obtaining more information about this program, please complete this short online application. One of our representatives will be in contact with you.