Latvia
Latvia is located in Europe's Schengen Area, along the Baltic Sea. Its capital, Riga, established in 1201, is recognized as a UNESCO World Heritage Site. Around 50% of Latvia's land is forested, providing numerous nature trails and parks. The country boasts strong transportation and cultural connections with both Western Europe and Russia.
Unlocking European Opportunities with Latvia's Investment Residence Scheme
Latvia's Investment Residence Program stands out as one of Europe's most efficient and competitive initiatives. Introduced by the Latvian government on July 1, 2010, this program was designed to help the country recover from the 2007–2009 economic downturn. Within five years of its inception, it had attracted over EUR 1.3 billion to Latvia's economy, with more than EUR 1.1 billion coming from foreign investors' real estate purchases.
To qualify, foreign nationals can apply for a Latvian residence permit by investing in a Latvian company's equity, providing a subordinated loan (deposit) to a Latvian bank, or purchasing interest-free government bonds designated for a special purpose.
Advantages of Latvia's Investment Residence Program
Schengen Area Access: Enjoy visa-free travel within Europe's Schengen Area.
Flexible Residency Requirements: No minimum stay is mandated for residence permit renewal eligibility.
Streamlined Application Process: Benefit from a fast-track application procedure.
Language Convenience: Russian is widely spoken, facilitating communication.
Strategic Location: Excellent transport connections to Russia and other EU countries.
Path to Citizenship: After 10 years of legal residence, applicants become eligible to apply for Latvian citizenship.
Requirements for Latvia Residence by Investment
To secure a residence permit via Latvia's Investment Residence Program, applicants must meet the following criteria:
Invest EUR 50,000 into the equity capital of a Latvian company, which must pay at least EUR 40,000 in taxes annually.
Make a one-time payment of EUR 10,000 to the state budget.
Show proof of sufficient funds to support their family's living expenses without needing social assistance from the Latvian government:
EUR 16.000 per year for a single main applicant.
EUR 21.000 per year for a main applicant and spouse.
EUR 22,000 per year for a married couple with one child.
Alternatively, applicants can purchase real estate in Latvia worth at least EUR 250,000 and pay a state fee equal to 5% of the property's value.
Procedures for the Latvia Residence by Investment Program
The applicant's family members, including spouse and children under 18, can apply for residence permits alongside the main applicant. Once the application is approved by the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor must visit Latvia within three months to obtain their temporary residence permit in the form of an ID card. The residence permit is valid for five years, with an annual ID card renewal requirement.
Residence Requirements for Latvia's Investment Residence Program
There is no stipulated minimum number of days that applicants are required to physically reside in Latvia to qualify for the renewal of their residence permit
Permanent Residence Permit and Citizenship
After holding the residence permit for five years, applicants become eligible to apply for a permanent residence permit. To meet the criteria for a permanent residence permit, candidates must have spent at least four out of the five years residing in Latvia and must successfully pass a basic Latvian language test at Level A2. Additionally, applicants must demonstrate a basic understanding of Latvia's general history and the national anthem. When applying for Latvian citizenship, applicants are typically required to renounce their previous citizenship, although there may be exceptions to this rule.
Latvia Residence by Investment Program Frequently Asked Questions
What is the Latvia Residence by Investment Program? The Latvia Residence by Investment Program provides individuals and their families with the opportunity to obtain residence in Latvia through significant investments in the country.
The Latvia Residence by Investment Program provides individuals and their families with the opportunity to obtain residence in Latvia through significant investments in the country.
What are the investment options available for the Latvia Residence by Investment Program?
Investment options include either investing in the equity capital of a Latvian company and making a one-time payment to the state budget, or purchasing real estate property in Latvia and paying a state fee. Applicants must also demonstrate sufficient funds to maintain their standard of living without government assistance.
What are the benefits of obtaining Latvian residence through investment?
Benefits include the right to live, work, and study in Latvia, visa-free travel within Europe's Schengen Area, and a streamlined application process.
What is the minimum investment required for the Latvia Residence by Investment Program?
The minimum investment starts at EUR 60,000 into the equity capital of a Latvian company and a one-time payment to the state budget.
How long does it take to process an application for the Latvia Residence by Investment Program?
Processing times for residence by investment applications may vary. Please contact us for more information.
Can family members be included in the Latvia Residence by Investment application?
Yes, the main applicant can include their spouse and dependent children under 18 years old in their application.
What are the residence requirements for the Latvia Residence by Investment Program?
There are no specific residence or physical presence requirements, but applicants must visit Latvia annually and confirm that they still hold their investments in the country.
What documents are required for the Latvia Residence by Investment application?
Required documents include a valid passport, proof of investment or contribution, a clean criminal record, and other supporting documents.
Is it possible to obtain Latvian citizenship through the Residence by Investment Program?
Yes, after maintaining residence for ten years, investors may be eligible to apply for Latvian citizenship.
What is the process for applying to the Latvia Residence by Investment Program?
Applicants must choose a qualifying investment, submit the application with the necessary documents, and undergo a due diligence process. Upon approval, the investor must visit Latvia within three months to collect their temporary residence permit ID card.
Testimonials from Our Clients
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Bridgegold made the process of gaining residency through investment incredibly smooth and stress-free, with expert guidance every step of the way. Their team is professional, knowledgeable, and truly committed to securing the best outcomes for their clients.
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I am truly grateful to Bridgegold for their exceptional service in securing my second citizenship. The process was smooth and transparent, thanks to their knowledgeable team. I wholeheartedly recommend them for anyone exploring investment-based residence opportunities.
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