European Residence Permit in Latvia

The Republic of Latvia offers foreign investors the ability to acquire a European residence permit for a period of no less than five years. The idea behind this format is to encourage foreign investment especially through: the establishment of businesses on Latvian territory and the establishment of new residents.
In the beginning of July in 2010, Latvia was able to introduced a new law in order to facilitate obtaining a European tax residence. A residence permit is a document that provides and ensures the rights of a foreigner residing within the Republic of Latvia for either a definite period of time or permanently.
As of 2012, the permit is issued as an identification card. Therefore, it is mandatory for a potential resident to deliver a copy of their fingerprints and a digital picture prior to the receipt of the residence permit.

The residence permit of the Republic of Latvia automatically guarantees the holder(s) the ability to move freely across and within the Schengen eurozone: comprising of a total of twenty-six European countries.

Packages for Residence Permit

Investment in Credit Institution​

Deposit a minimum of EUR 280,000 into a forward account for five years and pay EUR 25,000 State Fee.

In case of adoption of the first option, the investor(s) have underlying obligation(s) with a credit institution within Latvia to be not less than EUR 280,000 and the duration of the above-mentioned transaction should not be less than a period of five years. 

The following documents are mandatory to be submitted if the investor(s) wish to receive a residence permit within the Republic of Latvia based on the requirements of this option:

  • Investor(s) should present valid travel documents recognised in the Republic of Latvia.
  • An application form for residence permit of certain form.
  • A photograph.
  • A document certifying the necessary subsistence provision.
  • The country of nationality or residence, if the third-country national has stayed there for more than 12 months, a criminal statement issued by the competent authority (to a third-country national over 14 years of age) is also required.
  • A payment document attesting to the payment of the State fee.
  • A document issued by a credit institution within the Republic of Latvia attesting to the foreigners underlying obligations with the credit institution in Latvia of not less than in the amount specified in Section 23, Paragraph one, Clause 30 of the Immigration Law. The term of the transaction shall not be less than five years. If financial investments were made in a currency foreign to Latvia, the credit institution shall certify that on the day of entering into the contract. They should also ensure that the amount thereof was in conformity with the amount specified in Section 23, Paragraph one, Clause 30 of the Immigration Law. As well as, in accordance with the foreign exchange rate to be used in the accounting on the day of entering into the contract.
  • If your spouse or your child, who is a minor or is in your custody, is entering together with you, they are requested to additionally submit documents attesting kinship and a notarially certified permission or a permission signed in the presence of an official of the Office or Mission regarding consent to the travel of the child to the Republic of Latvia of the parent who does not enter together with the child.

Real Estate Investment​

Invest in the local real estate market for a minimum of EUR 250,000 and pay 5% State Fee.

In case of adoption of option two, investor(s) are required to have purchased and acquired ownership of a functionally related real estate, e.g. building, in the Republic of Latvia with a total value of not less than EUR 250,000.

The investor(s) has to meet such requirements:
  • The investor(s) currently do not have any, and never have had any, real estate tax debts.
  • Payment of the total value of real estate has been made in the form of non-cash settlements.
  • Real estate purchased from a legal person registered in the Republic of Latvia or a Member State of the European Union, the State of the European Economic Area or the Swiss Confederation, who is a taxpayer within the meaning of the regulatory enactments regulating the taxation of the Republic of Latvia, or a natural entity who is a citizen of Latvia, a non-citizen of Latvia, a citizen of the Union or a foreigner of Latvia, who resides in the Republic with a valid residence permit issued in and by the Republic of Latvia.
  • The total cadastral value of the real estate is not less than EUR 80,000 at the moment of purchase. If the cadastral value is less than the amount specified in this subparagraph, the value of the real estate, according to the market value, may not be less than EUR 250,000 or, if the third-country national has purchased two real estates, the market value of each real estate must not be less than EUR 125,000.
  • When requesting a first-time temporary residence permit, the investor(s) must pay five percent of the value of the immovable property into the State budget.
  • The real estate investor(s) have purchased cannot include agricultural land and/or forest land.

If the investor(s) are able to meet the aforementioned requirements they are obligated to submit the following list of documents if they wish to apply for a residence permit within Latvia: 

  • Investor(s) should present valid travel documents recognised in the Republic of Latvia.
  • An application form for residence permit of certain form.
  • A photograph.
  • A document certifying the necessary subsistence provision.
  • A document certifying the payment for the purchase of immovable property made in the form of non-cash settlement.
  • A document certifying that the third-country national does not have any debts for payment of immovable property tax if he or she has owned real estate for more than the period of one year.
  • An opinion of a certified real estate appraiser regarding the conformity of the market value of the immovable property with the value specified in Section 23, Paragraph one, Clause 29 of the Immigration Law. If the cadastral value of the acquired immovable property does not conform to the value specified in Section 23, Paragraph one, Clause 29, Sub-paragraph “d” of the Immigration Law.
  • The country of nationality or residence, if the third-country national has stayed there for more than 12 months, a criminal statement issued by the competent authority (to a third-country national over 14 years of age) is also required.
  • A payment document attesting to the payment of the State fee.
  • If your spouse or your child, who is a minor or is in your custody, is entering together with you, they are requested to additionally submit documents attesting kinship and a notarially certified permission or a permission signed in the presence of an official of the Office or Mission regarding consent to the travel of the child to the Republic of Latvia of the parent who does not enter together with the child.

Share Capital/Business Investment​

Investing in a company for an amount between EUR 50,000 and EUR 100,000. And pay EUR 10,000 State Fee.

In case of adoption of option three, certain conditions of this option are contingent upon on the number of employees, as well as the annual turnover of the enterprise with an annual tax:

  • An investment in a business company of at least EUR 50,000 if the company's number of employees does not exceed 50, such company’s annual turnover or annual balance does not exceed EUR 10 million. Upon investing in the equity capital of one capital company, a temporary residence permit shall be issued to no more than 10 foreigners, if each of them has made the investment laid down in this paragraph and paid EUR 10 000 into the State budget.
  • An investment in a business company of at least EUR 100,000 if the company's number of employees exceed 50 and such company’s annual turnover or annual balance exceeds EUR 10 million.
  • An investment is in a business company is at least EUR 100,000 and it has been performed in the equity capital of a capital company, which together with one or several subsidiaries registered in the Republic of Latvia employs more than 50 employees and total annual turnover or annual balance thereof exceed EUR 10 million:

The following documents are mandatory to be submitted if the investor(s) wish to receive a residence permit within the Republic of Latvia based on the requirements of this option:

  • Investor(s) should present valid travel documents recognised in the Republic of Latvia.
  • An application form for residence permit of certain form.
  • A photograph.
  • A statement issued by the competent institution of the state of citizenship or residence regarding the criminal record (for a foreigner older than 14 years of age), if a foreigner has resided therein for more than 12 months.
  • A payment document attesting to the payment of the State fee.
  • Before the submission of the documents your inviter shall approve the invitation letter at the Office of Citizenship and Migration Affairs.
  • If your spouse or your child, who is a minor or is in your custody, is entering together with you, they are requested to additionally submit documents attesting kinship and a notarially certified permission or a permission signed in the presence of an official of the Office or Mission regarding consent to the travel of the child to the Republic of Latvia of the parent who does not enter together with the child.

Investment in Governments Bonds​

Investment EUR 250,000 in Government bonds, and make a payment in the State budget of EUR 38,000.

In case of adoption of option four, the acquisition of interest-free government bonds shall be done after a positive decision has been made on granting a temporary residence permit. This is the only package, which permits you to make your investment after being approved for the residence permit – it is the best and safest option if you have some doubts about being approved for the permit. 

After 5 years, the Latvian Government guarantees the repayment of your investment. 

The following documents are mandatory to be submitted if the investor(s) wish to receive a residence permit within the Republic of Latvia based on the requirements of this option:

  • Investor(s) should present valid travel documents recognised in the Republic of Latvia.
  • An application form for residence permit of certain form.
  • A photograph.
  • A statement issued by the competent institution of the state of citizenship or residence regarding the criminal record (for a foreigner older than 14 years of age), if a foreigner has resided therein for more than 12 months.
  • A payment document attesting to the payment of the State fee.
  • If your spouse or your child, who is a minor or is in your custody, is entering together with you, they are requested to additionally submit documents attesting kinship and a notarially certified permission or a permission signed in the presence of an official of the Office or Mission regarding consent to the travel of the child to the Republic of Latvia of the parent who does not enter together with the child.

How to submit documents​

If you are a foreigner in Latvia and want to receive a first-time residence permit:

1) Submit the documents electronically while attesting to each document with a secure electronic signature; or

2) Send the documents by post in a normal, unrecorded consignment, indicating in the application documents his or her e-mail address and telephone number for further communication.

If you are a foreigner outside Latvia:

Potential foreign residents living outside of Latvia may submit the necessary documents to the embassy of the Republic of Latvia in their given state.

After fulfilling the required criteria, the investor(s) can apply for a residence permit valid for a period of no less than five years.

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