A residence permit is necessary if you are willing to reside in the Republic of Latvia for a period of time exceeding 90 days within half a year counting from the first day of entrance. 180.00. Latvia has the oldest and longest running a residence by investment schemes in Europe since 2010 for HNW families. Acquisition of a residence permit based on the purchase of real estate (immovable property) is one of the most popular investment-based methods for obtaining a Latvian residence permit. State fee for issuing the residence permit. You may learn the benefits of a European residency including free movement in Europe, access to health-care and education. Latvia residence permit for the whole family (spouse & children under18 years). © 2021 Pilsonības un migrācijas lietu pārvalde, All rights reserved. S tarting from July 2010, the Republic of Latvia offers foreign investors and business persons the golden opportunity of becoming a temporary resident (holder of Temporary Residence Permit – TRP) with a path to citizenship and access to the Schengen Area and the European Union countries with minimal bureaucratic requirements by making specified capital investment in Latvia. It used to be that you could purchase 100,000 Latvian lats (about $200,000) worth of property in Riga or any of the other main cities here and get a second residency. You do not need to physically live in Latvia, the only requirements are that you have a registered address and spend at least 1 day per year there. A – airport transit visa (unified Schengen visa). ); other proof of the purpose of stay in Latvia. : LV37TREL1060140918500. The investor's parents can only obtain a residence permit if they have been officially deprived of legal capacity (due to Alzheimer's, Parkinson's or other diseases that make it impossible for them to stay in their home country alone). However, you must visit the country at least once a year to maintain your residence permit. The time for obtaining a residence permit in Latvia includes the period necessary to review the submitted documents which is 5 to 30 days depending on the amount of fee paid. A temporary Latvian residence permit enables the holder to: It is important to note that the Latvian residence permit alone does not entitle the holder to work in other countries of the Schengen Area. … Visit the Office of Citizenship and Migration Affairs website for more details about Latvian visas. The presence of foreign nationals in Latvia is regulated by the 2002 Immigration Law of Latvia (Imigrācijas likums). Latvia does not recognise dual nationality. +371 291 02085 See Paragraph 11. Updated: 2020-06-12. When I first got to Latvia, I wrongly assumed that one of the most difficult things for me to do would be to register myself as living here. You may also want to read Tabatha Soltay’s 2019 step-by-step guide to applying for a residence permit.. Opportunities not that much as it's not a famous place to live and work. D – long-term visa (Latvian national visa). Once obtained, the residence permit can be renewed every five years. Do I need to get a visa to Latvia if I have US citizenship? The residence permit will have a validity not exceeding 5 years. The temporary residence permit entitles holders to stay in Latvia for five years and can be renewed. Relocation; Alex Cowles; Disclosure: This article was written in 2013. There are three options for obtaining investment residency in Latvia. Just 90 minutes away from Moscow by air, and with so many flight connections to all of the European hubs, Latvia has great links to other countries. See the official Latvian government website. Non-limited residence possibility (during the validity period of a residence permit) in Latvia – one of EU countries. Hello. Last year, just 82 applications for temporary residence permits were received in Latvia. TR Card issued in 3-4 months. ), we suggest making the payment for the service in the OCMA division with a bank payment card. The total value of the real estate must be at least €250,000, or outside the said administrative territories – no … The children of Latvian nationals automatically obtain citizenship by the ‘right of blood’. The deposit cannot be withdrawn before the maturity. In this case you must have income of 1110 EUR per month and a place of residence in Latvia. — Studies at an accredited educational institution in Latvia; — Treatment at an inpatient or rehabilitation facility; — Golden Visa for real estate investment; — Capital investment in the country's economy; — Latvian nationality before and including 17 June 1940. Some Russian websites continue to advertise the Latvian program. The total price of the purchase must not be less than EUR 250 000; The purchase contract and the Land Register certificate must be completed in the name of the person requesting the residence permit; The cadastral value (Like a property tax valuation in the US) of the property must be higher than EUR 80 000. When applying for residency, the following documents must be submitted to the Embassy of Latvia in the applicant's home country, or the Office of Citizenship and Migration Affairs: Total area 255 m² For the persons of Lithuanian origin and foreigners who have retained the right for the Lithuanian citizenship, temporary residence permit is granted for 5 years. Residence permit is valid for 5 years with annual renewal requirement. The Latvian real estate market is stable and prospering; prices are steadily increasing. Property maintenance costs in the UK in 2020. application, certified by the Latvian Office of Citizenship and Migration Affairs; applicant’s questionnaire (can be obtained at a consulate); police clearance, issued and certified by a competent authority in the applicant's home country; proof of financial solvency (minimum income per person is €370 per month); proof of the purchased property’s market value amounting to at least €250,000 and the cadastral value amounting to at least €80,000 at least; property tax clearance certificate if the applicant has owned the property for more than a year; proof of residence in Latvia (purchase or rental agreement, etc. In order to obtain a Latvian residence permit, the investor must pay a non-recurring charge of 5% of the property value. Latvia provides the cheapest investment option to immigrate to Europe. The policy was to cover me for Latvia, should last 5 years and should be to the value of 30,000 Lats or more (at the time of writing). This visa is issued to foreign nationals who need to stay in Latvia for more than 90 days in a given six month period. Real estate owner residence permit. Multiple non-visa entry and residence (up to 90 days within six months) in other 2 5 countries of the Schengen area. The total costs comes starting around 280,000 EUR for the real estate and it takes about 3 months to receive the residence permit. When applying for the service in an accelerated procedure (drafting certifications, accelerated execution of passports and eID, etc. A residence permit is needed if you want to stay in the Republic of Latvia or in Schengen area for more than 90 days in a six-month period. A residence permit is a document that gives a foreign citizen the right to temporarily (a temporary residence permit) or permanently (a permanent residence permit) stay in the Republic of Latvia. According to PMLP statistics, in 2010 2,495 first-time temporary residence permits were issued and a remarkable 6,123 first-time permanent residence permits. If an additional verification by the foreign national is necessary, the term can be extended for up to 90 days. Latvia work permit can be obtained from the Office of Citizenship and Migration Affairs on the basis of visas and residence permits. Thank you, I will definitely use your advice. In return, you receive a residence permit in Latvia. Permanent residence must be renewed every five years, but this procedure is easier than extending a temporary residence permit. As a member of the Schengen Area, Latvia requires foreign visitors to have A, C or D type visas in order to enter the country. If you wish to apply for a residence permit in the Republic of Latvia, you can purchase a piece of functional real estate in Riga or Jurmala, or in Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils or Stopini municipalities. Unlike the temporary residence permit, permanent residency is indefinite in Latvia. Meeting the requirements for a residence permit entitles the investor along with their spouse, minor children and dependants to residency. Why do Germans prefer to rent instead of buy? You can come and go as you please and don’t have to live in Latvia. Residence permit («Golden Visa») in other countries: FAQ about residence permits and citizenship in Latvia, Apartment – Kurzeme District, Riga, Latvia, Detached house – Latgale Suburb, Riga, Latvia, Cozy 1-bedroom apartment in the Center of Riga, Office of Citizenship and Migration Affairs, the Office of Citizenship and Migration Affairs, A well-built two storey detached family home in the centre of Jurmala, Majori…, Exclusive penthouse in one of the most popular areas of Riga, For sale a spacious apartment in Jurmala in new residential building, For sale a spacious 2-level apartment in new project in Bulduri, New home – Central District, Riga, Latvia, New home – Dzintaru prospekts, Jurmala, Latvia, European limitations on foreign property purchases, Spain vs. Portugal: the definitive guide for overseas property investors. Latvia’s popularity as an investment destination is largely driven by the residency or Golden Visa opportunities it can provide. A visa is most likely needed, we recommend to contact the Consulate of Latvia in America and clarify the procedure. Please bear in mind that you are not permitted to buy agricultural land, woods or forests and you cannot pay in cash. The drop-off in applications has been sharp. There are several ways to obtain a residence permit in Latvia for foreign persons.Currently the Latvian residence permit by Investment ( Buying a real estate – Long term deposit in bank ) is the best solution to obtain a residence permit in Europe, for those which can afford it. Permanent residency is the final step before subsequently obtaining nationality. Residence permit in the Republic of Lithuania. You may invest in a Latvian property at least 250,000 euro and pay the government fee. Family reunification (children, parents and spouses of Latvian nationals and non-nationals as well as Latvian permanent residence permit holders); employment (self-employment, contractual employment, scientific cooperation, etc. Read on to understand more about Latvian residency through property investment. Which documents are required to obtain a visa to Latvia? After five years of living in Latvia, the resident can either renew their temporary residence permit or apply for permanent residence. A citizen of non-EU Member State can obtain residence permit, which allows foreigner to live in Lithuania all year long, depart and return to the country multiple times, as well as travel through all Schengen zone member countries visa free. In 2014, the number of such applications exceeded 2,500. The new limit introduced in 2014 applies to the first 800 applicants. Since 2012, a residence permit is issued as an identification card (ID), therefore you will need to submit your biometrics (fingerprints) and digital picture of your face. This means that an investor who wants to become a Latvian resident can buy two apartments at €125,000 each and obtain a Golden Visa. How, who and when can receive information from the Population Register: Statement about an individual himself/herself or another person, Statement about persons registered at immovable property of owners, How to contact the person you have been searching for, Issue of statistical data and other general information, Procedure for submission of information about the use of body, tissues and organs, Updating information in the population register, About the circulation of certain public documents between the EU member states, The long-term resident status of the european community in Latvia, Questions and answers regarding declaration of the place of residence, Information Day for the citizenship applicants, Status of non-citizen and stateless person, Verification of payment made into the budget. It’s simple: buy real estate anywhere in Latvia and get a temporary residence permit good for five years. A residence permit is a document that gives a foreign citizen the right to temporarily (a temporary residence permit) or permanently (a permanent residence permit) stay in the Republic of Latvia. It used to be that you could purchase 100,000 Latvian lats (about $200,000) worth of property in Riga or any of the other main cities here and get a second residency. One prerequisite for obtaining permanent residence is a basic knowledge of Latvian. If you wish to obtain a residence permit in the Republic of Latvia, you may make a 5-year term bank deposit of €280,000. Total area 211 m² If you wish to obtain a residence permit in the Republic of Latvia, you may make a 5-year term bank deposit of €280,000. Dependents may be included in the application. In order to obtain a Latvian residence permit, the investor must pay a non-recurring charge of 5% of the property value. I am planning a trip to Latvia to visit my relatives. In return, you receive a residence permit in Latvia. Latvia PR by Business Investment. Residence is only guaranteed to those buying buildings or developed land. Possibilities of payment for the services of the OCMA: For payment card payments the commission is paid by the Treasury from the state budget funds. 90000050138Beneficiary institution: The Treasury, code TRELLV22Account No. Land area: 1,419 m², Total area 196 m² A full list of the categories of persons exempted from payment of the state fee is available in the 12.09.2017 Regulation of the Cabinet of Ministers No. It’s simple: buy real estate anywhere in Latvia and get a temporary residence permit good for five years. within 5 working days. Although the Latvian residence permit by employment or by Assuming board members position are other common methods. LATVIA PERMANENT RESIDENCY: Methods of Investment for Permanent residence permit: - Real estate investment for 250,000 Euros plus a one-time payment of 5% of the purchase price to the state budget. by payment cards (VISA, VISA Electron, Maestro, Master, American Express) in any territorial division; by wire transfer using the services of credit institutions. For additional information please refer to the homepage of OCMA. Registering As Living In Latvia – Latvian Residence Permit. Open a banking deposit of 300,000 EUR or 400,000 USD for 5 years with a Latvian bank. The Government fee for issuance of residency permit is 5 % from the property price indicated in the purchase contract. In addition there is a government processing fee of €25,000 or 5% of the property value. You should keep your property as long as you want to keep the residence permit. ... Cookie policy Agree. Residence permit in Latvia based on real estate. Vacant land plots are not suitable for this purpose. ); studies at an accredited higher education institution or under an accredited programme, internship or training at an accredited educational institution; enrolling in a secondary education programme in Latvia; the past status of a Latvian national or non-national; use Latvian public and healthcare services on a fee-based insurance; issue visa invitations to relatives and others; apply for visas to other countries including Australia, Canada, the UK and the US; buy automobiles registered in Latvia for use in all EU countries without having to pay custom duties; obtain a driving licence valid across the EU. By receiving a residence permit in Latvia, you obtain a possibility to travel freely within the Schengen area for up to 90 days within a period of six months. real estate with an assessed value of at least €80,000; subordinated liabilities with a Latvian bank for five years. — Residence in Latvia for the last five years; — Knowledge of the main provisions of the Republic of Latvia’s Constitution; — Knowledge of the national anthem lyrics and the history and culture of Latvia. At the time of writing the homepage of Latio, one of the leading Latvian realtors, boasts around 1,300 advertisements which would allow buyers to qualify for a Golden Visa. What are the grounds for obtaining a Latvian residence permit? However, this applies only to purchases outside Riga, Jūrmala, Ādaži, Babīte, Baldone, Garkalne, Ikšķile, Ķekava, Mārupe, Olaine, Ropaži, Salaspils, Saulkrasti, Stopiņi Municipality and Carnikava. Temporary residence permit is usually issued for 1 or 2 years. I confirm that I have read and accept the, Real estate in Latvia for residence permit. At the same time, the property's assessed value must amount to at least €80,000. Choose a social network where you want to share the content of this page. Finally, you can invest in a bank bond for a minimum of EUR 280,000, and receive interest on your investment. A residence permit is issued by the Office of Citizenship and Migration Affairs in Latvia (OCMA). Ciekurkalna 1. linija 1, k-3, LV-1026, Riga. It is necessary to have lived in the country for a significant period of time to obtain permanent residency. Tranio's managers are here to help with advice on getting a residence permit in Latvia, How to obtain a Latvian residence permit or Golden Visa, Requirements for obtaining a residence permit, Other grounds for obtaining residence in Latvia. ... A stamp duty is levied on the higher of sales price or cadastral value when real property is registered in the land register, capped at €42,686. Latvia Residency: Property Investment. First, you can buy real estate in Latvia for at least EUR 250,000. Investors can gain a five year residency permit by investing €250,000 in property. To ascertain whether the payment has entered the Treasury, we propose using the e-service The Latvian real estate market is stable and prospering; prices are steadily increasing. - Investment of 50,000 Euros in the equity capital of a Latvian company. If the investor buys two properties outside the designated cities or territories, the cadastral value of each must be at least €40,000. Vija Gailite, Latio’s head of sales, said the average Russian buyer was “a middl… - Investment of 280,000 Euros in the subordinated capital of a Latvian Bank for 5 years. The most popular way to obtain an investment-based residence permit is by purchasing property. Your feedback will help us improve this site. Latvian residency is especially attractive as it provides visa-free access to Schengen Area member states and facilitates visa application to other developed countries. You may invest in a Latvian property at least 250,000 euro and pay the government fee. Latvia is a baltic schengen member country which joined the European Union in 2004. Foreign nationals can lose residency if their debts exceed €150. What are the requirements for an applicant to obtain Latvian citizenship through naturalisation? You should keep your property as long as you want a residence permit. You may invest at least 250,000 euro in Latvian property and pay the government fee. Property purchase and registration takes about six weeks. For more information, check out our Schengen Visa article. Residence permit in Latvia through purchasing a real estate In Latvia Just buy a real estate in the Latvia, and you will receive a Temporary residence permit (TRP) in Latvia which is valid for 5 years. It wasn’t that there weren’t enough properties to go around; Riga’s steeple-studded skyline is once again dotted with cranes. All the residence permits in Latvia are issued by the Office of Citizenship and Migration Affairs in Latvia (OCMA). Latvia is well-connected. Another benefit of registering your company in Latvia is the possibility to receive a residence permit in Latvia. Invest at least €250,000 in one or two properties depending on the location. Would like to receive the best website experience? 557 "Regulations Regarding the State Fee for the Examination of the Documents Necessary for Requesting a Visa, Residence Permit or the Status of a Long-term Resident of the European Community in the Republic of Latvia and the Services Related Thereto". The only conformation of payment for the service is the information in the budget electronic payment system "eKase". You will get an easy to understand overview and all details of getting a Latvian residence permit by investing 50,000 euro in a Latvian company. For others, the following requirements must be fulfilled: — the child must be born after 21 August, 1991; — the child must permanently reside in Latvia; — the child must be a non-national of Latvia or be stateless before applying for citizenship; — the child's parents must be  permanently stateless or non-nationals of Latvia; — the child’s parents should have  been residing in Latvia for at least five years before applying. — roundtrip tickets or a vehicle registration certificate (when travelling by one’s own car); — signed consent to avail of the Latvian service provider’s services. Upon the second extension (i.e., 10 years after becoming a resident) the resident must pay €5,000. A stamp duty of between €142.29 and €426.86 (depending on urgency) must also be paid for document review, in addition to a consular fee of €70. Land area: 1,054 m². Rights to live, work and study in Latvia. If a person (individual) invests at least 150,000 EUR or 35,000 EUR in the share capital and a company. At least 2000_2500 from my experiences. Until 30 June 2021, UK citizens and their family members who entered Latvia and applied for the EU residence card before 31 December 2020 can apply for a new residence permit at the Office of Citizenship and Migration Affairs (OCMA) by submitting an application (template available) enclosing a copy of their passport. If payment has not been received by the Treasury, the OCMA is not entitled to provide the requested service! We will send you a content digest not more than once a week, New disclosure norms for Swiss property owners, Global real estate is getting more expensive, despite the pandemic, Spanish cities top list of expats’ preferred destinations in 2020. Once obtained, the residence permit can be renewed every five years. Purpose of payment: VN PMLP dok. Latvian citizenship by naturalisation can be awarded to those individuals who: Children below 15 years of age permanently residing in Latvia can be naturalised along with their parents. The residence permit takes anywhere from one to three months to be issued. If you are paying for the service by wire transfer in a credit institution or internet bank, please take into account that the processing of the payment may take several days. By Assuming board members position are other common methods EU countries but this procedure is easier than a!, also with a Latvian property at least €250,000 in one or two properties outside designated! Network where you want a residence permit takes anywhere from one to months. A person who has received a residence permit ) in Latvia to understand more about Latvian.... Visa to Latvia if I have read and accept the, real estate in for... Bear in mind that you are not suitable for this purpose 250,000 euro and pay the government fee visa... 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