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Latvia Immigration – Get Permanent European Union Residency in Latvia

Latvia is a Baltic country in the northern Europe. Latvia is also a Schengen member country which joined the European Union in 2004 and the currency in Latvia is Euro. Latvia real estate investment provides you with a bunch of valuable benefits.

Benefits

  • Enter any EU country without Visa
  • Reside in Latvia for up to 5 years
  • EU Schengen member country
  • Visa free travel to Schengen and other EU countries
  • Stay in any Schengen country for 90 days within half a year
  • Create companies in Latvia and manage them
  • Keep your money in Latvian banks
  • Safe Real Estate Investment
  • Low cost of living

Latvia offers a new residence program for investors and the residence program allows visa free travel in other European and Schengen countries.
The Latvia Real Estate immigration is the cheapest way to get residence permit in Europe. The minimum real estate investment is EUR 250,000 to purchase a property in capital Riga.

Please contact us for more information regarding the real estate purchase and the residency permit process.

Approved applicants will be issued a `temporary residence permit`(TRP) with annual renewals. You have to visit Latvia once to receive the permit and once per year to renew the validity thereof.

Temporary residence permit`(TRP) with annual renewals (click to expand)

The TRP residence permit issued is a biometric card (replaces visa sticker) allows visa free travel to all 25 Schengen countries and is allowed to stay 90 days in every 6 month period in Schengen countries. It is also issued to any family members accompanying with the investor. The temporary residence permit grants the investor right to work and free movement to other European countries in Schengen zone. The investor is free to leave the country anytime and is not required to stay permanently in Latvia.

We provide assistance in real estate selection and purchase, all legal support for immigration, banking relationships, residence, health insurance, accommodation and citizenship in Latvia.

The application process is complex so you need an experienced partner like us to manage the process for you, and ensure your application is successful and fast.  The real estate purchase takes about one month and the permit process between 2 and 6 months.

For more information on applicable fee and additional costs, please contact us or complete the below application.

The residence permit of the Republic of Latvia automatically guarantees free movement of persons within the Schengen area, currently consisting of 25 European countries.

Having fulfilled one of the below criteria, an investor may apply for the residence permit valid for the period of 5 years:

  • Placement of term deposit / acquisition of bonds. Subordinated term deposit or bonds ≥ 300 000 EUR. Term ≥ 5 years. Fastest and easiest way to the residence permit.
  • Investment in real estate. Value of which is ≥ 250 000 EUR in Riga.
  • Business establishment. Investment amount ≥ 35 000 EUR taxes per annum ≥ 40 000 EUR, employees ≤ 50, annual turnover or balance sheet ≤ 10m EUR.Invitation is required. Temporary residence permit will be available both for investors and their family members – spouses, underage children and persons that are under the surveillance/official care of such investors. Upon expiry of the term of residence permit investors and their family members are eligible to apply for the renewal.

Immigration to Latvia

Introducing the Republic of Latvia: Latvia can be described as a small, peaceful Baltic State with beautiful landscapes, located between Lithuania and Estonia, on the shore of the Baltic Sea. According to statistics, the population of Latvia is currently estimated to be around 2 million people. The biggest ethnic groups are Latvian (62%) and Russian (~27%). The official language is Latvian, however, the majority of the population also speak Russian and English.

Latvian nominal GDP per capita is estimated to be around 13 899 USD. In the year 2008 the Latvian economy suffered an economic crisis, however, now it has fully recovered. On the 1st January 2014 Latvia enters the Eurozone, meaning that the Euro will be introduced as the new national currency. Latvia is also a member state of the European Union and Schengen area, which provides many benefits for its residents.

Immigration to Latvia is developing, with almost 3000 residence permits being requested, based on investment, in the last year alone. The Immigration Law of Latvia provides several options for those, who want to immigrate to Latvia. Many students are moving to Latvia in order to get a European education and discover new possibilities for living and travelling in Europe.

Immigration services

Immigration services in Latvia are not well developed compared to Australia, Canada or the USA. So choosing the right partner is critical to be successful!

Immigration to Latvia is the best option for those are not eligible for a Canada, Australia or USA program or do not want to spend huge amounts of money.

There are many options provided by Latvian Immigration Law in order to acquire a residence permit and move to Latvia, however, according to statistics, the most popular options are investment in a Latvian company, bank or real estate.

Contact us to know more about the Latvian programs!

Lawful immigration

There are several major pull factors for lawful immigration to Latvia. First, the cost of living in Latvia is low compared to other European Union countries. Second, there are many options that can be used to acquire a residence permit. Third, Latvia is a part of the Schengen area and the European Union.

In order to visit Latvia, an immigrant needs to follow all the requirements set out by Latvian immigration law. There are several possibilities, depending on the purpose of your visit. To visit Latvia you may need a visa (Schengen visa) and in case your stay is related to some kind of employment – also a work permit, visa or Schengen visa in order to visit Latvia. If you want to reside here – you need to acquire a residence permit. The grounds for issuing one of these documents are laid out in Immigration Law.

Immigration law

The Latvian immigration Law is the main legal regulation for immigration to Latvia. It came into effect in year 2003 and since then it was modified.

Immigration law – likumi.lv/doc.php?id=68522 (Latvian language)
The Office of Citizenship and Migration Affairs – www.pmlp.gov.lv
Immigration Law distinguishes two main groups of immigrants: those, who are citizens of the European Union or European Economic Area and those, from third states, who are considered non-EU citizens. The Immigration Law provides two different regulations for each group of immigrants.

The first article of Immigration Law defines a Union Citizen as follows:
Union citizen – a foreigner who has the citizenship of any of the European Union Member States, Member State of the European Economic Area or the Swiss Confederation;

Immigration statistics

According to the Immigration statistics, provided by The State Land Service and The Office of Citizenship and Migration Affairs, almost 3000 foreigners have requested a residence permit in Latvia based on investment, during the last year alone.

More detailed information on migration in Latvia you can find here:
www.csb.gov.lv

Most popular cities by population

The most popular city for immigrants is Riga. Since it is the biggest city in Latvia, it perfectly satisfies all needs of a modern person. The other two big cities by population are Liepaja, on the shore of the Baltic Sea, and Daugavpils, in the heart of Latgale.

Statistics show that the Riga real estate market makes up about half of the entire Latvian real estate market. The amount of sales of real estate in Riga is double that of all other parts of Latvia combined, which not only makes Riga real estate a valuable investment, but Riga itself – the most popular city in the country. Prices are increasing at a good pace, thanks to a strong economy, expanding financial services and booming tourism.

Tourists mostly visit Riga with its fine architecture, museums, theatres and bars. However, such cities as Jurmala and Ventspils are also quite popular among tourists. Both of these are located by the Baltic Sea.

Services for Immigrants – Embassies in Latvia

  • Embassy of the Republic of Austria
  • Embassy of the Republic of Azerbaijan
  • Embassy of the Kingdom of Belgium
  • Embassy of the Republic of China
  • Embassy of the Czech Republic
  • Embassy of the Kingdom of Denmark
  • Embassy of the Republic of Finland
  • Embassy of the France Republic
  • Embassy of the Georgia
  • Embassy of the Federal Republic of Germany
  • Embassy of the Hellenic Republic (Greece)
  • Embassy of the Ireland
  • Embassy of the State of Israel
  • Embassy of the Italian Republic
  • Embassy of the Republic of Moldova
  • Embassy of the Kingdom of the Netherlands
  • Embassy of the Kingdom of Norway
  • Embassy of the Russian Federation
  • Embassy of the Slovak Republic
  • Embassy of the Kingdom of Spain
  • Embassy of the Kingdom of Sweden
  • Embassy of the Swiss Confederation
  • Embassy of the Ukraine
  • Embassy of the United Kingdom of Great Britain and Northern Ireland
  • Embassy of the Republic of Uzbekistan

Migration in and out of Schengen area

Latvia is a member state of the Schengen area. Countries of the Schengen Agreement have abolished passport and immigration control at their common borders and for travel between their member states. Member countries also recognise Schengen visas issued by other Schengen states. On the outer border, or upon first entry to the Schengen area, normal immigration control procedures apply, however admission to any Schengen country is considered admission to the whole Schengen area (all member countries), with no further immigration checks needed.

Third-country citizens holding unified Schengen visas may stay in any Schengen member state for 90 days. If you want to stay for a longer period of time – you need either a long term visa or a residence permit. Due to the strict immigration policies (due to a large amount of illegal immigrants), sometimes it may be quite hard to acquire a Schengen visa. Nevertheless, if you have positive visa history and enough funds to stay – then the process can be quite simple and painless.

Residence permit

There are three popular ways to obtain a residence permit (for 5 years with an opportunity of extension) in Latvia: investment in a Latvian company, bank or real estate. A Residence permit for education is also an option, but it is much harder to acquire and it cannot be extended to a permanent residence permit later.

A Residence permit in Latvia provides following privileges for its holder:

  • You may invite your relatives;
  • Automatic provision of residence permit for your spouse and underage children;
  • Opportunity to get a European education;
  • Opportunity to extend your business to the European market;
  • Opportunity to travel in Europe without border controls;

If you want to know more about the residence permit in Latvia, you can read more about it here: Acquire residence permit in Latvia.

History

Immigration history in Latvia is not great, which is seen by the small ethnic diversity in Latvia. The second largest ethnic group after Latvian (62%) – is Russian (27%). The majority of Latvia’s Russian population immigrated to Latvia from Russia during the period of the Soviet Occupation (1945 – 1991). Since Latvia has entered the European Union in year 2004 and opened its borders due to the Schengen agreement, many locals have left Latvia pursuing opportunities in other EU states – primarily during the crisis 2008-2010. Currently, Latvia offers residency for foreign investors, who are non-EU citizens. During the last year almost 3000 foreign investors have requested a residence permit in Latvia.


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