A residence permit can be obtained by purchasing two properties in Latvia for at least €250,000 in total. 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. What package of documents must be collected for a trip to Latvia? You may invest in a Latvian property at least 250,000 euro and pay the government fee. A visa is most likely needed, we recommend to contact the Consulate of Latvia in America and clarify the procedure. Acquisition of a residence permit based on the purchase of real estate (immovable property) is one of the most popular investment-based methods for obtaining a Latvian residence permit. Tranio's managers are here to help with advice on getting a residence permit in Latvia, How to obtain a Latvian residence permit or Golden Visa, Requirements for obtaining a residence permit, Other grounds for obtaining residence in Latvia. Do I need to get a visa to Latvia if I have US citizenship? Temporary and permanent residents of Latvia do not have the right to hold public office or vote in elections. This means that an investor who wants to become a Latvian resident can buy two apartments at €125,000 each and obtain a Golden Visa. ... Cookie policy Agree. In addition there is a government processing fee of €25,000 or 5% of the property value. Can Latvian citizenship be obtained by those born in Latvia? 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. Multiple non-visa entry and residence (up to 90 days within six months) in other 2 5 countries of the Schengen area. I am planning a trip to Latvia to visit my relatives. Another benefit of registering your company in Latvia is the possibility to receive a residence permit in Latvia. — Studies at an accredited educational institution in Latvia; — Treatment at an inpatient or rehabilitation facility; — Golden Visa for real estate investment; — Capital investment in the country's economy; — Latvian nationality before and including 17 June 1940. Until 30 June 2021, UK citizens and their family members who entered Latvia and applied for the EU residence card before 31 December 2020 can apply for a new residence permit at the Office of Citizenship and Migration Affairs (OCMA) by submitting an application (template available) enclosing a copy of their passport. To ascertain whether the payment has entered the Treasury, we propose using the e-service After that the investment limit rises to €500,000. The assistant took a copy of my passport, and explained that I should come back in 10 working days with my health insurance documents, when my permit should have been approved for collection. ); other proof of the purpose of stay in Latvia. Land area: 750 m². Indian immigrants are the major foreigner residents The country offers residence permit visa to rich foreigners. First, you can buy real estate in Latvia for at least EUR 250,000. - Investment of 280,000 Euros in the subordinated capital of a Latvian Bank for 5 years. Latvia does not recognise dual nationality. Just 90 minutes away from Moscow by air, and with so many flight connections to all of the European hubs, Latvia has great links to other countries. Latvia’s popularity as an investment destination is largely driven by the residency or Golden Visa opportunities it can provide. — Residence in Latvia for the last five years; — Knowledge of the main provisions of the Republic of Latvia’s Constitution; — Knowledge of the national anthem lyrics and the history and culture of Latvia. TR Card issued in 3-4 months. Purpose of payment: VN PMLP dok. What are the grounds for obtaining a Latvian residence permit? Registering As Living In Latvia – Latvian Residence Permit. Land area: 1,054 m². Vacant land plots are not suitable for this purpose. LATVIA PERMANENT RESIDENCY: 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. Temporary residence permit is usually issued for 1 or 2 years. Since 2010, Latvia has been issuing residence permits to foreign nationals in exchange for investment in the country's economy. Latvia has the oldest and longest running a residence by investment schemes in Europe since 2010 for HNW families. Latvia residence permit for the whole family (spouse & children under18 years). Real estate owner residence permit. If the investor buys two properties outside the designated cities or territories, the cadastral value of each must be at least €40,000. It used to be that you could purchase 100,000 Latvian lats (about $200,000) worth of property in Riga or any of the other main cities here and get a second residency. Vija Gailite, Latio’s head of sales, said the average Russian buyer was “a middl… Latvian residency is especially attractive as it provides visa-free access to Schengen Area member states and facilitates visa application to other developed countries. MK 577 (12.09.2017)Beneficiary: The Treasury, registration No. This visa is issued to foreign nationals who need to stay in Latvia for more than 90 days in a given six month period. The presence of foreign nationals in Latvia is regulated by the 2002 Immigration Law of Latvia (Imigrācijas likums). You may invest in a Latvian property at least 250,000 euro and pay the government fee. If a person (individual) invests at least 150,000 EUR or 35,000 EUR in the share capital and a company. A citizen of non-EU Member State can obtain residence permit, which allows foreigner to live in Lithuania all year long, depart and return to the country multiple times, as well as travel through all Schengen zone member countries visa free. — colour photograph (3,5x4,5 cm) with the face occupying 70-80% of the picture; — health insurance (with a coverage of at least €30,000); — bank statements for the last three months, payslips, sponsorship letter to prove financial sustainability. … The policy was to cover me for Latvia, should last 5 years and should be to the value of 30,000 Lats or more (at the time of writing). State fee for issuing the residence permit. ); studies at an accredited higher education institution or under an accredited programme, internship or training at an accredited educational institution; enrolling in a secondary education programme in Latvia; the past status of a Latvian national or non-national; use Latvian public and healthcare services on a fee-based insurance; issue visa invitations to relatives and others; apply for visas to other countries including Australia, Canada, the UK and the US; buy automobiles registered in Latvia for use in all EU countries without having to pay custom duties; obtain a driving licence valid across the EU. Please bear in mind that you are not permitted to buy agricultural land, woods or forests and you cannot pay in cash. 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. You may learn the benefits of a European residency including free movement in Europe, access to health-care and education. The Latvian real estate market is stable and prospering; prices are steadily increasing. I confirm that I have read and accept the, Real estate in Latvia for residence permit. 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. Cost of living is not that cheap.if you want to reach at European standard level 1000 is not that enough in Latvia. Read on to understand more about Latvian residency through property investment. "Verification of payment made into the budget". In 2014, the number of such applications exceeded 2,500. Choose a social network where you want to share the content of this page. In return, you receive a residence permit in Latvia. C – short-term visa (unified Schengen visa). As a member of the Schengen Area, Latvia requires foreign visitors to have A, C or D type visas in order to enter the country. Latvia introduced its golden visa programmein 2010. The Latvian real estate market is stable and prospering; prices are steadily increasing. In return, you receive a residence permit in Latvia. In 1st of September 2014 new changes in law about foreign nationals getting residence permits went into force that allowed foreign nationals to receive a residence permit in Latvia by purchasing a real estate here. You do not need to physically live in Latvia, the only requirements are that you have a registered address and spend at least 1 day per year there. real estate with an assessed value of at least €80,000; subordinated liabilities with a Latvian bank for five years. Invest at least €250,000 in one or two properties depending on the location. If you wish to obtain a residence permit in the Republic of Latvia, you may make a 5-year term bank deposit of €280,000. Latvia is well-connected. The time for obtaining a residence permit in Latvia includes the period necessary to review the submitted documents which is 5 to 30 days depending on the amount of fee paid. Residence Permit through business in Latvia. Some Russian websites continue to advertise the Latvian program. 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. The most popular way to obtain an investment-based residence permit is by purchasing property. Latvian citizenship can be obtained by the children and spouses of Latvian nationals as well as naturalised foreign citizens. Dependents may be included in the application. - Investment of 50,000 Euros in the equity capital of a Latvian company. A residence permit is issued by the Office of Citizenship and Migration Affairs in Latvia (OCMA). The residence permit takes anywhere from one to three months to be issued. As the cheapest Residency by Investment Program in Europe, Latvia offers investors a wide range of benefits: Fast processing times. In order to obtain a Latvian residence permit, the investor must pay a non-recurring charge of 5% of the property value. Why do Germans prefer to rent instead of buy? This visa allows foreign nationals to enter and stay in Latvia and other countries of the Schengen Area for up to 90 days within a given six month period. 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. The individual must have a permanent address in Latvia; The residence permit will be issued for the same length as the employment contract; Work permit and job opening must be submitted 1 month before the individual submits the residence permit application _____ Issuing Resident Permits. For the persons of Lithuanian origin and foreigners who have retained the right for the Lithuanian citizenship, temporary residence permit is granted for 5 years. The residence permit will be issued per 5 years and once per year you may register with the Immigration department. 180.00. The total price of the purchase must not be less than EUR 250 000; The purchase contract and the Land Register certificate must be completed in the name of the person requesting the residence permit; The cadastral value (Like a property tax valuation in the US) of the property must be higher than EUR 80 000. However, you must visit the country at least once a year to maintain your residence permit. It’s simple: buy real estate anywhere in Latvia and get a temporary residence permit good for five years. The deposit cannot be withdrawn before the maturity. Your feedback will help us improve this site. If you are paying for the service by wire transfer in a credit institution or internet bank, please take into account that the processing of the payment may take several days. For additional information please refer to the homepage of OCMA. In order to obtain a Latvian residence permit, the investor must pay a non-recurring charge of 5% of the property value. Possibilities of payment for the services of the OCMA: For payment card payments the commission is paid by the Treasury from the state budget funds. Family reunification (children, parents and spouses of Latvian nationals and non-nationals as well as Latvian permanent residence permit holders); employment (self-employment, contractual employment, scientific cooperation, etc. After 10 years of legally residing in the country, you will be eligible for citizenship. Visit the Office of Citizenship and Migration Affairs website for more details about Latvian visas. 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. — roundtrip tickets or a vehicle registration certificate (when travelling by one’s own car); — signed consent to avail of the Latvian service provider’s services. Residence permit is valid for 5 years with annual renewal requirement. within 5 working days. Investors pay a $10,000 fee upon investing funds in a Latvian company. When I first got to Latvia, I wrongly assumed that one of the most difficult things for me to do would be to register myself as living here. 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: the capital of a Latvian enterprise with up to 50 employees and an annual turnover below €10M; the capital of a Latvian enterprise with at least 50 employees and an annual turnover over €10M. ), we suggest making the payment for the service in the OCMA division with a bank payment card. : LV37TREL1060140918500. The children of Latvian nationals automatically obtain citizenship by the ‘right of blood’. The total costs comes starting around 280,000 EUR for the real estate and it takes about 3 months to receive the residence permit. After five years of living in Latvia, the resident can either renew their temporary residence permit or apply for permanent residence. Latvia PR by Business Investment. Open a banking deposit of 300,000 EUR or 400,000 USD for 5 years with a Latvian bank. Total area 211 m² Latvia is a baltic schengen member country which joined the European Union in 2004. © 2021 Pilsonības un migrācijas lietu pārvalde, All rights reserved. Relocation; Alex Cowles; Disclosure: This article was written in 2013. Once obtained, the residence permit can be renewed every five years. You may also want to read Tabatha Soltay’s 2019 step-by-step guide to applying for a residence permit.. State fee for review of documents submitted for registration of a temporary residence permit, which is issued in accordance Section 23, Paragraph one, Clause 28, 29 or 30 of the Immigration Law, for a foreigner and his or her family members. Opportunities not that much as it's not a famous place to live and work. At least 2000_2500 from my experiences. Permanent residency is the final step before subsequently obtaining nationality. 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. By receiving a residence permit in Latvia, you obtain a possibility to travel freely within the Schengen area for up to 90 days within a period of six months. Property maintenance costs in the UK in 2020. application, certified by the Latvian Office of Citizenship and Migration Affairs; applicant’s questionnaire (can be obtained at a consulate); police clearance, issued and certified by a competent authority in the applicant's home country; proof of financial solvency (minimum income per person is €370 per month); proof of the purchased property’s market value amounting to at least €250,000 and the cadastral value amounting to at least €80,000 at least; property tax clearance certificate if the applicant has owned the property for more than a year; proof of residence in Latvia (purchase or rental agreement, etc. Since 2012, a residence permit is issued as an identification card (ID), therefore you will need to submit your biometrics (fingerprints) and digital picture of your face. How, who and when can receive information from the Population Register: Statement about an individual himself/herself or another person, Statement about persons registered at immovable property of owners, How to contact the person you have been searching for, Issue of statistical data and other general information, Procedure for submission of information about the use of body, tissues and organs, Updating information in the population register, About the circulation of certain public documents between the EU member states, The long-term resident status of the european community in Latvia, Questions and answers regarding declaration of the place of residence, Information Day for the citizenship applicants, Status of non-citizen and stateless person, Verification of payment made into the budget. In this case you must have income of 1110 EUR per month and a place of residence in Latvia. ... A stamp duty is levied on the higher of sales price or cadastral value when real property is registered in the land register, capped at €42,686. Non-limited residence possibility (during the validity period of a residence permit) in Latvia – one of EU countries. What are the requirements for an applicant to obtain Latvian citizenship through naturalisation? If payment has not been received by the Treasury, the OCMA is not entitled to provide the requested service! According to PMLP statistics, in 2010 2,495 first-time temporary residence permits were issued and a remarkable 6,123 first-time permanent residence permits. There are three options for obtaining investment residency in Latvia. For others, the following requirements must be fulfilled: — the child must be born after 21 August, 1991; — the child must permanently reside in Latvia; — the child must be a non-national of Latvia or be stateless before applying for citizenship; — the child's parents must be  permanently stateless or non-nationals of Latvia; — the child’s parents should have  been residing in Latvia for at least five years before applying. If the TRP is valid for several years, the residence permit must be registered every year. Unlike the temporary residence permit, permanent residency is indefinite in Latvia. See Paragraph 11. by payment cards (VISA, VISA Electron, Maestro, Master, American Express) in any territorial division; by wire transfer using the services of credit institutions. The only conformation of payment for the service is the information in the budget electronic payment system "eKase". D – long-term visa (Latvian national visa). However, this applies only to purchases outside Riga, Jūrmala, Ādaži, Babīte, Baldone, Garkalne, Ikšķile, Ķekava, Mārupe, Olaine, Ropaži, Salaspils, Saulkrasti, Stopiņi Municipality and Carnikava. have lived in Latvia for at least five years; have knowledge of the Latvian language, understand the basic principles of the Constitution of Latvia, are familiar with the country’s national history and culture, and know the text of Latvia’s national anthem; have submitted a statement giving up their previous nationality and have received permission for expatriation from the previous country of nationality. A temporary Latvian residence permit enables the holder to: It is important to note that the Latvian residence permit alone does not entitle the holder to work in other countries of the Schengen Area. Visa-free travel to Schengen zone. If an additional verification by the foreign national is necessary, the term can be extended for up to 90 days. Last year, just 82 applications for temporary residence permits were received in Latvia. Residence permit («Golden Visa») in other countries: FAQ about residence permits and citizenship in Latvia, Apartment – Kurzeme District, Riga, Latvia, Detached house – Latgale Suburb, Riga, Latvia, Cozy 1-bedroom apartment in the Center of Riga, Office of Citizenship and Migration Affairs, the Office of Citizenship and Migration Affairs, A well-built two storey detached family home in the centre of Jurmala, Majori…, Exclusive penthouse in one of the most popular areas of Riga, For sale a spacious apartment in Jurmala in new residential building, For sale a spacious 2-level apartment in new project in Bulduri, New home – Central District, Riga, Latvia, New home – Dzintaru prospekts, Jurmala, Latvia, European limitations on foreign property purchases, Spain vs. Portugal: the definitive guide for overseas property investors. 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