Latvia offers Residency by Investment, the Latvian government offers several ways of getting a residence permit by investment; purchasing real estate, investing in a business, buying bonds, or investing in the subordinated capital of credit institutions. Investors over 18 years old with an official income and no criminal record are eligible to participate in the Latvian residence permit program. The investor’s spouse and minor children can also be included in the application, provided that they are disabled and need constant care.
The applicant can apply for Latvian Permanent Residence after they have resided in the country for a minimum of five years. They must have resided in the country for a minimum of four of those years, and know the language, general history, and national anthem. Citizenship can be obtained after 10 years of residence, providing they have resided in Latvia for the majority of this time.
Interest-free Government bonds
Deposit in Latvian Bank
To obtain a residence permit by investment, the following documents need to be submitted:
The requirements and qualifications required to obtain Latvia residency by investment are listed below:
If the foreign national applying for a residence permit does not have either of the above, he /she needs to submit:
Step 1: Submit the residence application, along with any application fees, to the office of Citizenship and Migration Affairs. As part of the application, the investor is required to commit to the investment.
Step 2: After one to three months, a decision is made about the application.
Step 3: If the application is approved, the applicant must travel to Latvia within three months to give biometrics, make the investment, and pay the deposit.
Step 4: After making the relevant investment, the applicant will receive a residence permit valid for five years.
Step 5: After five years, and upon the fulfillment of certain requirements (including a language requirement), the investor may apply for a permanent residence permit.
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Privacy World can also help you with incorporating your company in Latvia, assisting in getting you settled in the country, and coordinating with you so that this experience will be less of a hassle.
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Dual citizenship is recognized in Latvia. It is permitted with some exceptions.
Yes, you can include your spouse, and children up to 18 years of age are included and even longer if they are not married and still depend on their parents.
It depends on the investment, TRP’s are issued for a maximum of 5 years.
You can most certainly invest in Latvia as a non-resident. The country welcomes all investment dollars, regardless of whether you want to live in the place.
There is no minimum physical presence requirement to maintain the five-year residence permit. However, persons wishing to apply for the permanent residence permit must demonstrate residence in Latvia for at least four of the five years.
There is no language test required in Latvia.
There is no interview required.
No nationality is officially restricted.
Latvian residents are liable to Latvian income tax on their worldwide income. Non-residents are liable to income tax on their Latvian-source income.
There are no inheritance taxes in Latvia.
There are no net wealth/worth taxes in Latvia.