Latvia Residency by Investment Program Latvia offers a Residency by Investment program, providing non-EU citizens with the opportunity to obtain a temporary residence permit (TRP) through financial investment. This program is an attractive option for individuals looking to live, work, or travel freely within the Schengen Area.
1. Investment Options for Residency in Latvia There are several pathways to obtaining a residence permit through investment:
1.1 Real Estate Investment Investment Amount: At least 250,000 EUR in real estate, plus a 5% state fee. Conditions: The property must be purchased from a Latvian citizen, company, or a foreign national residing in Latvia. You must hold the property for at least 5 years. The real estate cannot be agricultural or forest land.
1.2 Bank Deposit Investment Amount: A minimum of 280,000 EUR as a deposit in a Latvian bank for at least 5 years. Additional State Fee: A 25,000 EUR contribution to the Latvian state budget.
1.3 Business Investment Investment Amount: Invest at least 50,000 EUR into a Latvian company, which must pay 40,000 EUR in taxes annually and employ at least 50 employees. Alternatively, an investment of 10,000 EUR is required for smaller companies with fewer than 50 employees and an annual turnover below 10 million EUR. Additional State Fee: A 10,000 EUR state contribution.
1.4 Purchase of Government Bonds Investment Amount: 250,000 EUR in special-purpose government bonds. Additional State Fee: A 38,000 EUR payment to the state.
2. Benefits of the Latvian Residency by Investment Program Schengen Area Access: Residency allows you to travel freely within the Schengen Zone for up to 90 days in a 180-day period. Low Residency Requirements: You are not required to reside in Latvia for extended periods to maintain your residency status. Family Inclusion: Immediate family members (spouse, children under 18) can be included in the residency application. Pathway to Permanent Residency and Citizenship: After 5 years of temporary residency, you may apply for permanent residency. Citizenship is possible after 10 years, subject to language and other requirements.
3. Application Process The process for obtaining residency by investment typically includes: Choose Investment Type: Decide which investment pathway suits your goals (real estate, business, etc.). Prepare Documents: Submit documents including proof of investment, passport, health insurance, and proof of funds. Submit Application: Apply for the temporary residence permit either at the Latvian Office of Citizenship and Migration Affairs (OCMA) or through a Latvian consulate. Processing Time: It usually takes between 1 to 3 months for the application to be processed. Receive Residency Card: Upon approval, you'll receive a temporary residence card, valid for 5 years, which can be renewed.
4. How Votre Voyage SIA Can Help At Votre Voyage SIA, we provide end-to-end assistance throughout the residency by investment process in Latvia. Our services include: Guidance on choosing the right investment option (real estate, business, etc.). Document preparation and submission to Latvian authorities. Assistance with property searches or business setup in Latvia. Full support for family inclusion in the residency application. Accommodation arrangements upon your arrival in Latvia.
Let Votre Voyage SIA handle the complexities, ensuring a smooth path to obtaining your Latvian residence permit through investment!