Under Latvian Immigration Act foreign investors may apply for residence permit in Latvia on the following grounds:
1) investment of Euros 50k or more in the share capital of a Latvian company, or
2) purchase of a real estate in Latvia worths Euros 250k or more, or
3) deposit of at least Euros 280k into subordinated loan or bonds of a Latvian bank for five years, or
4) purchase of Latvian government bonds of Euros 250k.
Advantages of the Latvian program are:
Spouse, children under 18, and dependents of the investor qualify under investor's application.
Investors and their family are allowed to live and work in Latvia.
The residence permit allows visa-free travel to all Shengen Zone states.
Latvia imposes no residency requirements on holders of Latvian residence permits.
Applications for the residence permits are considered within 5-30 days depending on amount of application fee paid.
Initially the permit is issued for 5 years subject to annual re-registration. Upon expiration of the initial term investors are entitled to renewal for another 5 years or, subject to passing a Latvian language exam, may apply for permanent residence permit. After 10 years residence in Latvia investors may apply for Latvian citizenship.
Obtaining of the residence permit normally takes 1-3 months.
PETROVS & PARTNERI offer foreign investors full legal support in obtaning the Latvian residence permits. Do call us +371 67035381, or email to firstname.lastname@example.org for FREE initial consultation.