Residence permit

Residence permit

residence permit in latvia

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Latvia is the Member state of the European Union and Schengen Agreement. Latvian residence permit allows its holder to stay in Latvia without any term limitations – from 1 to 365 days per annum as well as staying in any other Schengen Member State for up to 90 days within six-month period.

Latvian residence permit for investors is valid for up to 5 years, but it shall be restored annually.
Investor's family members are also eligible to obtain temporary residence permit: spouse, minor children, and wards.

Current Latvian Immigration Law claims the following legal options for obtaining the residence permit:

1. Buying one functionally related real estate object in Latvia, the total value of which is not less than 250 000 EUR, if the following criteria are met:

  • A person does not have and has never had any real estate debts
  • The transfer of the total real estate value has been made by non-cash payment
  • The real estate has been acquired from:
    • a legal entity which is registered in Latvia
    • a natural person who is a citizen or resident of Latvia
    • a foreigner who has a valid Latvian residence permit
  • The total cadastral value of the real estate is not less than 80 000 EUR at the moment of its acquisition*
  • An applicant has paid a fee in amount of 5% of the real estate purchase value into the state budget
  • The real estate does not comprise any agricultural or wooded land.

*In case the cadastral value is less than 80 000 EUR, the total value of the real estate in accordance with the real estate market value determined by a certified real estate appraisal shall not be less than 250 000 EUR.

2. Investment in the credit institution of Latvia* in the amount of at least 280 000 EUR, if the following criteria are met:

  • The term of such transaction is not less than 5 years
  • An applicant has paid a fee in amount of 25 000 EUR into the state budget

*Investment in the credit institution of Latvia in the form of subordinated loan or subordinated bonds of a credit institution, and in accordance with the deposit provisions it may not be terminated prior to the term of repayment of the deposit.

3. Investment in the share capital of Latvian company either by increasing the capital of the existing company, or by contributing upon establishment of a new company, and the investment is at least:

  • 35 000 EUR if the following criteria are met:
    • less than 50 employees
    • annual turnover does not exceed 10 000 000 EUR
    • at least 40 000 EUR are paid to the state budget as taxes during a financial year
  • 150 000 EUR if the following criteria are met:
    • more than 50 employees
    • annual turnover exceeds 10 000 000 EUR.

4. Employment of a foreign national, who is a Board member of a Latvian company or any other official registered with the Enterprise register of Latvia, on the basis of work permit and monthly salary in amount of at least 1 370 EUR.
The company has to meet the following criteria:

  • Share capital is not less than 2 800 EUR
  • At least 5 employees
  • At least 14 300 EUR are paid to the state budget as taxes during a financial year.

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UNITED AGENTS ​

Tel: +371 26133646
Tel: +371 28223563
Email: info@unitedagents.eu
Address: 76/78 Matīsa St. Rīga, LV-1009, Latvia

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