Latvia residence and citizenship program
Latvia is a country in Northern Europe, situated on the Baltic Sea. The official language is Latvian, but Russian is also widely spoken by most of the population. Known for its rich heritage, incredible local cuisine, and stunning mix of art nouveau and medieval architecture, Latvia attracts visitors from all over the globe.
Riga is the cosmopolitan capital and largest city of Latvia. Moreover, it is the political, economic and cultural center of this small, but proud country. Today, more than a third of the country’s population lives and works in Riga. Latvia has been a member of the United Nations since 1991, and a member of the European Union and NATO since 2004. In 2007 Latvia joined the Schengen Area, which brought significant benefits to its citizens and residents.
The Latvia Residence-by-Investment Program is one of the most affordable and fastest options in Europe. The program was launched in July 2010 by the Latvian Government. Foreign nationals may apply for the residence permit in Latvia through the purchase of real estate; by making a financial investment in a Latvian credit institution (subordinated loan or subordinated bank bonds); investing in the equity capital of an enterprise; or purchasing interest-free government bonds.
Advantages
- Inclusion of spouse and children under 18 years old
- Fast processing
- Visa-free travel to the countries in the Schengen Area, Switzerland, Norway and Iceland
- Able to stay in any Schengen Member State up to three months within any half year
- No physical residency requirements
- The right for the applicant to work in Latvia
- Successful applicants who are citizens of the European Union and European Economic Area residing in Latvia because of their work or self-employment will be entitled to health insurance;
- The right to receive discounted or free education within the European Union
- The right to obtain a Latvian driver’s licence, which is valid in all Member States of the European Union
- The right to acquire and register a vehicle within the territory of Latvia.
- Fast processing within approx. 90 days to obtain a Temporary Residence Permit
- Successful applicants and dependents will be granted a Temporary Residence Permit valid for 5 years
- Applicants who have kept their investment for 5 years can apply for renewal for an additional 5 years every 5 years subject to payment of a renewal fee of €5,000
- Applicants who have continuously resided in Latvia for 5 years will be entitled to apply for a permanent resident permit
- Applicants and their dependents can receive subsidized health care and education benefits after becoming permanent residents
- Applicants and their dependents can apply for Latvian Citizenship after 10 years of legal residence in Latvia
Investment Options
- Currently there are 3 forms of investment in Latvia to obtain TRP card (residence card) such as:
- First: invest in 250,000 euros of real estate in Riga or two 250,000 euros properties in the outskirts of Riga.
- Second: invest in a shareholder in Latvia with a minimum value of 60,000 euros.
- Third: invest in a shareholder of a company in Latvia worth 120,000 euros.
Requirements
- Aged 18 years or older
- Applicant must have no criminal record;
- Investing in real estate, having a stake in a company or a credit institution in Latvia;
- The applicant invests in a joint stock company or real estate and does not intend to work in Latvia requiring personal property or minimum income of EUR 900 (~ 24 million) per month for the principal applicant and EUR 300 (~ 8 million) per month for each dependent.
- Applicants must have sufficient income to support the applicant and dependents
- €13,320 /year – Main Applicant
- €4,440 /year – Spouse
- €2,592 /year – Per child
- Health Insurance for applicant and dependents
- Make a qualifying investment in real estate, or in the share capital of a Latvian company and hold the investment for 5 years.
For more information, please contact our hotline: +84 911 60 22 44 (Multi line)
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