Get Residence By Investment for Latvia
Get Residence By Investment for Latvia. Foreigners can obtain a residence permit for a set period of time (temporary residence permit) or permanently (permanent residence permit) in the Republic of Latvia. In order to reside in the Republic of Latvia for a period of time exceeding 90 days within 180 days of entering the country, a residence permit is required. The Office of Citizenship and Migration Affairs in Latvia (OCMA) issues residence permits.
A residence permit and long stay visa can be applied for by citizens and residents of the following countries at the Latvian Embassy in India: The Republic of India, the People’s Republic of Bangladesh, the Republic of Maldives, the Republic of the Union of Myanmar, the Federal Democratic Republic of Nepal, and the Democratic Socialist Republic of Sri Lanka.
Get PR Visa Service for Latvia
– Inclusion of spouse and children under 18 years old.
– Fast processing.
– Visa-free travel to the countries in the Schengen Area, Switzerland, Norway and Iceland.
– Able to stay in any Schengen Member State up to three months within any half year.
– No physical residency requirements.
– The right for the applicant to work in Latvia.
– The right to receive discounted or free education within the European Union.
– The right to obtain a Latvian driver’s licence, which is valid in all Member States of the European Union.
– The right to acquire and register a vehicle within the territory of Latvians.
– Aged 18 years or older.
– Applicant must have no criminal record;
– Applicants must have sufficient income to support the applicant and dependents.
– €13,320 /year – Main Applicant
– €4,440 /year – Spouse
– €2,592 /year – Per child
– Health Insurance for applicant and dependents.
– Make a qualifying investment in real estate, or in the share capital of a Latvian company and hold the investment for 5 years.
– The applicant must invest in Real-estate or shares in a company in Latvia.
– Real Estate investment.
– €250,000 minimum investment.
– 5% government fee.
– 2% Registration fees.
– Share Investment.
– €50,000 investment in shares of a Latvia company.
– €5,000 Arrangement and Due Diligence fees.
– €10,000 Stamp Duties.
– The investment must be held for a minimum of 5 years, and must be retained if the residency permit is renewed.
– Fast processing within approx. 90 days to obtain a Temporary Residence Permit.
– Successful applicants and dependents will be granted a Temporary Residence Permit valid for 5 years.
– Applicants who have kept their investment for 5 years can apply for renewal for an additional 5 years every 5 years subject to payment of a renewal fee of €5,000.
– Applicants who have continuously resided in Latvia for 5 years will be entitled to apply for a permanent resident permit.
– Applicants and their dependents can receive subsidized healthcare and education benefits after becoming permanent residents.
– Applicants and their dependents can apply for Latvian Citizenship after 10 years of legal residence in Latvia.