Residence permit in the Republic of Latvia

Information on popular ways of acquiring the residence permit in the Republic of Latviapmzh

If you wish to acquire the residence permit in the Republic of Latvia as a person, who invested in the fixed capital of an enterprise, by raising this capital, or who invests in the fixed capital of an enterprise, by creating a new enterprise, and these investments are at least:

  1. a) 50000 EUR, and they are made into the enterprise, which employs no more than 50 employees, its annual turnover or annual balance sheet do not exceed 10 million EUR(at least 40000 EUR should be paid as taxes in the budget of the state and the local government during the economic year for the entire term of residence permit). The temporary residence permit may be requested by no more than ten foreigners, who made investments in the fixed capital of one enterprise;
  2. b) 100000 EUR is invested into the enterprise, which employs more than 50 employees, the annual turnover or annual balance sheet of which exceed 10 million EUR (at least 100000 EUR should be paid as taxes in the budget of the state and the local government during the economic year for the entire term of residence permit)
  3. c) 100000 EUR is invested into the enterprise, which together with at least one subsidiary undertaking registered in the Republic of Latvia employs more than 50 employees, the total annual turnover or annual balance sheet of which exceed 10 million EUR

and paid 10000 in the budget of the state,

it is necessary to submit the travel documents, which are valid in the Republic of Latvia (passport), as well as to present the following documents:

  • a questionnaire of the established form for requesting the residence permit;
  • a photo;
  • a document, which confirms provision of the required minimum subsistence level (for instance, a labor contract with a Latvian enterprise, stating a wage in the amount of at least 818 EUR, or a bank account statement on account balance 370,00 EUR х 12 months, 4440,00 EUR per year for marital partner and 2664,00 EUR per year for child);
  • a document, which confirms the envisaged place of residence in the Republic of Latvia;
  • a document on the payment of the state duty.

In case you wish to receive a residence permit in the Republic of Latvia as a person, who purchased, who now owns one real property at the cost of 250 000 EUR (in Riga or Jurmala, or Adazhu, Babites, Baldones, Carnikavas, Garkalnes, Ikshkiles, Kekavas, Marupes, Olaines, Ropazhu, Salaspils, Saulkrastu or Stopinu district) or maximum two real properties outside these administrative territories at the cost of 250000 EUR and who at the same time conforms to the following requirements:

  1. a) there is no a real property tax debt; b) the total transaction cost is paid through non-cash settlement; c) the real property is purchased on behalf of the legal entity, which is registered in the Republic of Latvia, in the member state of the European Union, in the country of European Economic Community or Swiss Confederation, which is a taxpayer, according to the procedure defined by the tax legislation of the Republic of Latvia, or by the physical person, who is a citizen of Latvia, a non-citizen of Latvia, a citizen of the Union or a foreigner, which resides in Latvia with a residence permit: d) the cadastral value of the real property is at least 80 000 EUR at the purchasing moment, the cadastral value of the real property is at least 40 000 EUR at the purchasing moment for each of two bought outside above mentioned territories. In case the cadastral value is less than aforementioned, the total value of the real property cannot be less than the market value of the real property, which is defined by the certified appraiser of the real property: 250000 EUR for one real property or 125000 EUR for each of two; as well as e) a payment in the amount of 5% from the value of the real property is made in the budget of the Republic of Latvia; f) the real property composition does not include farmland or land under a forest.

It is necessary to submit the travel documents, which are valid in the Republic of Latvia (passport), as well as to present the following documents:

  • a questionnaire of the established form for requesting the residence permit;
  • a photo;
  • a document, which confirms the provision of the required minimum subsistence level (usually, this is a reference from a bank (or a bank account statement), which indicates that the investor has at least 13320,00 EUR per year and 4440,00 EUR per year for marital partner and 2664,00 EUR per year for child);
  • a document, which confirms the envisaged place of residence in the Republic of Latvia;
  • a document, which confirms that the real property is purchased through non-cash transaction;
  • a document, which confirms that a foreigner does not have a real property tax debt, in case the foreigner owns the real property during more than one year;
  • a document on the conformity of the market value of the real property to the requirements of paragraph 29 of part one of article 23 of the Immigration Law, in case the cadastral value of the purchased real property does not conform to that indicated in subparagraph «d» of paragraph 29 of part one of article 23 of the Immigration Law;
  • a document on the payment of the state duty.

In case you wish to receive a residence permit in the Republic of Latvia as a person, who made financial investments in the credit institution of the Republic of Latvia, in the form of a subordinated loan or subordinated bonds, in the amount of at least 280.000 EUR, for a term of at least five years:

It is necessary to submit the travel documents, which are valid in the Republic of Latvia (passport), as well as to present the following documents:

  • a questionnaire of the established form for requesting the residence permit;
  • a photo;
  • a document, which confirms the provision of the required minimum subsistence level (usually, this is a reference from a bank (or a bank account statement), which indicates that the investor has at least 4440,00 EUR per year, 4440,00 EUR per year for marital partner and 2664,00 EUR per year for child);
  • a document, which confirms the envisaged place of residence in the Republic of Latvia;
  • a document issued by a credit institution of the Republic of Latvia, which confirms a financial investment in subordinated capital, in the amount of at least 280.000 EUR, for a term of at least five years.  If financial investments are made in foreign currency, the credit institution confirms, that on the day the contract was concluded, their amount was no less than that indicated in paragraph 30 of part one of article 23 of the Immigration Law, pursuant to the foreign currency exchange rate, which is used in accountancy;
  • a document on the payment of the state duty
  • a document on the payment of 25000 EUR directly to the budget of the Republic of Latvia (particulars will be provided in the decision on granting a temporary residence permit).

The documents to request a residence permit are valid during the following time:

  • invitation for acquisition of the residence permit — during six months since the day of its approval;
  • documents, which confirm the existence of the necessary financial backing and the envisaged place of residence in the Republic of Latvia — during three months since the day of issue;
  • references, letters and other documents, with the exception of: documents, which confirm civil status, court judgments, references from the archive and documents on education — during six months since the day of issue;
  • reference on the results of an X-ray or a photofluorographic examination — during one year since the day of issue

 

Review of the documents for requesting a temporary residence permit for a foreigner an a member of his family pursuant to paragraphs 28, 29, 30 of part one of article 23 of the Immigration Law, during:  EUR
30 days 142.29
10 working days 284.57
5 working days 426.86

 

When receiving a temporary residence permit, a foreigner must present a valid health insurance policy (we help to formalize it) When receiving a primary temporary residence permit or a temporary residence permit after an interval of more than 90 days, a foreigner must present a reference issued by a Latvian medical institution, that he is not sick with tuberculosis in its active phase (we help to formalize it).

In cooperation with our Baltic partners, we provide assistance in the acquisition of residence permits in the Republic of Estonia and the Republic of Lithuania, according to the programs, that exist in these countries.

In order to acquire more detailed information, we offer you to contact us.