Latvia Residence by investment
Latvia is a unique country with its own traditions, customs, cultural attractions, high education level and developed infrastructure.
- Lowest investment requirement in Europe — from €35,000.
- Freedom to open a business in Europe in one month.
- Express residency in 5 months.
- EU passport in 10 years.
- Temporary and permanent residence permits, and passports for family members including dependent children under 18 and elderly parents.
- No residency requirements.
- Visit to Latvia once a year to extend temporary permit and once in five years for permanent residence permit.
- Low cost of living.
- Minimal expenses in running a business
- Right to live, work and study in Latvia during the 10 years before naturalisation.
- Visa-free travel to EU and Schengen states.
- Simplified visa application process to other countries (Ireland, USA, Canada, UK);
- Social benefits and incentives.
- Entry visas for family members.
- Right to buy and register any vehicle and use it temporary in other countries.
- Right to buy property.
Imperial & Legal services
Our company is very experienced in offering immigration advice and services. We help our clients prepare all the documents, take care of the move and obtain documents for legal stay in the country. It is super important to do everything right and according to the law to increase your chances of getting a visa to the country of your choice. Our experts will make sure the whole process will be smooth and easy for you.
Residency by investment
Residency by investment programs is one of the areas of our expertise.
Those programs are:
— Investment in share capital of a Latvian company — minimum €35,000 first year and €28,600 for the following year – by foreign corporate entities and individuals. Investments to be made by bank transfer.
— Purchase of real estate with a value of at least €250,000, to be held for at least 5 years.
— Deposit into an account of a Latvian credit institution — minimum €280,000 for at least 5 years without the right to withdraw this investment earlier.
— Purchase of interest-free government securities with minimum par value of €250,000 and contribution of €25,000 into the state budget.
Investors thus get a residence card after 5 months of the investment. Provided they fulfil certain conditions, they are eligible to apply for settlement after 5 years and for naturalisation after 10 years.
- Main applicant must be over 18 years old.
- Minimum investment €35,000.
- Investment recoverable in 10 years, after naturalisation.
- University degree and job experience are required from the main applicant when opening a business.
- Clean criminal and immigration law records for all applicants over 14 years of age.
- Availability and source of funds.
- Confirmation of investment into the Latvian economy.
- Proof you can support yourself and your family during one year.
- Temporary residence permit is required to apply for permanent residence and naturalisation.
- Latvian language requirement when applying for naturalisation.
- Knowledge of the country’s constitution, anthem, history and culture (once the language exam is passed).
- Undertake the Oath of Allegiance before collecting a passport.
- Renounce existing citizenships.
Temporary residence permit
There are other ways to become a Latvian resident, apart from those by investment. Almost in every case though you need to confirm your status annually unless otherwise stated by law:
- Member of Board of Directors in a company.
- Work visa:
- EU blue card.
- Short-term foreign worker.
- Representative of an overseas business.
- Innovative invention.
- Marriage with a Latvian national.
- Marriage with a EU national.
Imperial & Legal offers its support during the 5 years after obtaining a temporary permit in order to apply for settlement and naturalisation.
Settlement and naturalisation
You can apply for settlement after 5 years of getting a resident card. The good thing is you don’t have to live in the country; it is enough to visit it once a year to extend your resident card.
However, to naturalise, an immigrant must constantly live in Latvia during 5 years after settlement. Besides, they have to pass a language test and Life in Latvia test to prove your knowledge of the country’s constitution, anthem, history and culture.
The procedure from temporary permit to naturalisation
- Consultation with an Imperial & Legal immigration advisor.
- Initial eligibility check.
- Choosing an investment option.
- Selecting real estate for viewing and signing of a purchase agreement, opening a bank account or registering a company.
- Proof of availability of funds.
- Preparing required documents and filling in forms.
- Accompanying for submission of applications and documents to the Latvian embassy.
- Decision made by the Latvian authorities.
- Successful applicants are issued with a temporary residence permit.
- Collecting the permit in Riga.
- Support during 5 years for further applying for permanent residence permit and naturalisation.
- Applying for permanent residence permit.
- Preparing and submitting applications for naturalisation.
- Undertaking the Oath of Allegiance and collecting passports.