on issues of obtaining / extending residence permits in Latvia;
According to the valid immigration laws of the Republic of Latvia there are following grounds for a foreign investor to obtain a temporary residence permit in Latvia for a term up to 5 five years:
- Residence permit by investment in real estate at least in amount 250 000 EUR;
- Residence permit through investment in the fixed capital of a limited liability company or joint stock company, starting from 50 000 EUR;
- Opening of a representative office of a foreign merchant in Latvia;
- Residence permit for company manager, by assuming a board member’s position in a limited liability company or joint stock company (for example, Managing Director, Chief Executive, Board Member, Procurator);
- Residence permit through investments in subordinated capital of credit institution of Latvia at least in amount of 280 000 EUR;
- Purchase of government securities with a nominal value of 250 000 EUR
- Marriage to a citizen of Latvia;
- On the grounds of studies in educational institution accredited in Latvia;
- On the grounds of legal employment relation contract as an employee;
- Other grounds provided by the Immigration Law of Latvia.
Residence permit is a document that allows residing in the territory of the Republic of Latvia or other Schengen country without having a visa.
Temporary residence permits in Latvia are issued for a period of 5 years.
Settling of matters related to the obtaining of residence permit may take from 5 to 30 days.
Upon receiving the residence permit in Latvia the person is granted an identification card according to the European form.
Any foreign citizen is eligible to apply for residence permit.
The residence permit has to be reapproved on annual basis. Following the period of five years the holder of temporary residence permit becomes eligible to apply for permanent residence permit that will entitle him to free movement within and living in any Schengen country without the mandatory requirement to reside in Latvia for 180 days and more. Following another five years the person shall be eligible to apply for the citizenship of the Republic of Latvia that will entitle him to movement within and living in any Schengen country of European Union member country.