«StayInRiga» company gives advice and offers its’ assistance in temporary residence permit legalization in Latvia since 1st of July, 2010 when there were amendments made in immigration law of Republic of Latvia that now allow to receive residence permit in European Union upon condition of real estate purchase in Latvia.
These amendments allow foreign investors to request temporary residence permit in Latvia for 5 years and get possibility to claim permanent residence permit in European Union. After 10 years of stay in Latvia, it is possible for investor to get citizenship of Republic of Latvia (which provides an opportunity of living in any place of Schengen and staying in USA and Canada visa-free).
Temporary residence permit allows staying in Schengen for up to 90 days during six months term. Aside of investor himself it is possible to request temporary residence permit for investors’ family members: spouse, underage children and wards.
Moreover we should mention that residence permit in Latvia gives an opportunity to receive other country visa in easier way (Great Britain, USA or Canada, for example) and formalize invitations in order to receive visa for family members and other persons, plus investor receives the right to work in Latvia (unfortunately, investors’ spouse do not receive this right), study, use state and medical services; it also allows to purchase cars that are registered in Republic of Latvia and to get driver’s licence which is valid in whole European Union.
When submitting temporary residence permit application to The Office of Citizenship and Migration Affairs investor also has to submit certificate of no criminal conviction and tuberculosis screening certificate.
Temporary residence permit is offered in form of plastic card with holders’ personal number.
Main criteria for temporary residence permit legalization after real estate purchase are:
The minimal investment level for real estate purchase is EUR 250 000 - this should be the price of one property unit. In addition, since September 1, 2014 a one-time fee to the state budget has been introduced - 5% of the property value, which is paid alongside with the obtaining of a residence permit .
- Real estate must be purchased from the legal body, registered in Latvia or from private person, who is resident of LR, citizen of EU or a foreigner, who does stay in Latvia on the basis of effective residence permit.
- Transaction payment is performed in non-cash form.
Important note: fulfilment of all mentioned requirements may not ensure residence permit legalization in Latvia.
For more details about residence permit legalization in Latvia and required documents please contact our representatives.