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EU Residence Permit:

As of 1 July 2010, opportunities of applying for a temporary residence permit in the Republic of Latvia, which is a member-state of the European Union and the Schengen Treaty, have expanded.

Amendments to the Immigration Law of the Republic of Latvia concern the possibility of applying for a residence permit for a term of up to 5 years on the basis of one’s investment:

  • In the subordinated capital of an Republic of Latvia credit institution:
    - As a subordinated loan or subordinated bonds worth at least LVL 200,000 (~ EUR 284,574), with a term of at least 5 years and no right of termination prior to maturity;

  • In the Republic of Latvia real estate objects:
    - Either investing in one or several real estate objects in Riga, Riga region, or towns in Latvia, with the total amount of investment worth at least LVL 100,000 (~EUR 142,287);
    - Or investing in one or several real estate objects outside the aforementioned territories, with the total amount of investment worth at least LVL 50,000 (~EUR 71,144).

  • Provide that:
    - The investor does not have and never had outstanding real estate tax pmts;
    - The real estate is purchased only from a legal entity registered in the Republic of Latvia or from an individual who is a citizen or non-citizen of Latvia, a citizen of the EU or a foreign national with a valid Republic of Latvia residence permit.

  • In the stock capital of an Republic of Latvia company:
    - Either at least LVL 25,000 (~EUR 35,572) should be invested in a company that employs no more than 50 people and has an annual turnover of less than 7 million LVL, provided that the annual amount paid in tax is worth at least LVL 20,000 (~EUR 28,457);
    - Or amount invested: 100,000 LVL.

We provide consultations and legal support to its customers regarding the investment and required documents preparation issues.
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