Real Estate in Europe

Residence permit in the Republic of Latvia

Since 1 July 2010, investments in the Republic of Latvia have carried additional benefits, giving the client the right to obtain a residence permit that allows visa-free travel within the Schengen countries. To keep the residence permit, the client does not have to reside in Latvia permanently.

Non-residents of Latvia can obtain a residence permit in Latvia in the following cases:

• personal investment of at least 200,000 LVL (equivalent to 400,000 USD) in the subordinated capital of a credit institution for a term of at least 5 years;
• personal participation in the share capital of a Latvian company in the amount of at least 25,000 LVL (equivalent to 50,000 USD), provided that the company pays at least 20,000 LVL (equivalent to 40,000 USD) in taxes per year to the budget of the Republic of Latvia;
• purchase of real estate worth at least 100,000 LVL (equivalent to 200,000 USD) in Riga, the Riga district or cities of national significance, or 50,000 LVL (equivalent to 100,000 USD) outside them, paid by bank transfer.

For the period of validity of the client's residence permit, the client's spouse and minor children are also entitled to apply for a residence permit.

Step 1. The client receives a list of the required documents and prepares them in their country of residence

Step 2. The client submits the residence permit application to the consular section of the Republic of Latvia in their country of residence.

Step 3. The client arrives in Latvia, where they are met by our representative, and together they go to the Office of Citizenship and Migration Affairs of the Republic of Latvia to obtain the residence permit.

The processing time for a residence permit application is up to 90 days. The Office of Citizenship and Migration Affairs reserves the right to extend the decision period and to refuse a residence permit even if all requirements have been met.

If the residence permit is issued for more than 1 year, the client must renew it every year. After the residence permit expires, it can be requested again if the circumstances on which the client originally obtained it still apply.

Our partners in Latvia will help our clients select real estate, including luxury property, and complete the purchase transaction.

If you are interested in premium real estate in Latvia (Riga, Jurmala), send a request to dmitriy@offshore-express.com.ua and you will receive offers that match your criteria.