Latvia Investment Visa – Get Legal Help from Our Lawyers
Citizenship by Investment in LatviaUpdated on Tuesday 08th March 2022
Rate this article
based on 2 reviews
based on 2 reviews
Foreign investors planning to obtain Latvia citizenship by investment can benefit from the golden visa scheme, which was introduced in Latvia in 2010. Investment for second citizenship and residency has seen a rush in demand. The golden visa in Latvia facilitates the acquisition of residence, citizenship, and immigration through investment. According to the 2010 golden visa scheme, the investors can gain a five-year residency permit by investing €250,000 in the property, exclusive of the government processing fee.
Our lawyers in Latvia can help you with your plan regarding Latvian investment citizenship. Furthermore, you can also get in touch with our lawyers if you are interested in acquiring Latvia immigration by investment.
Requirements for Latvia golden visa
The eligible applicant for Latvia golden visa must be of 18 years or above, while the dependents (minor child, spouse, parents, and financially dependent children) can apply for a Latvia residence permit together with the applicant. Once the application is approved at the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor needs to visit Latvia within three months to collect his/her temporary residence permit provided in the form of an ID card. This residence permit is valid for five years and requires renewing the ID card every year. Suppose you are interested in Latvian citizenship by investment. In that case, you are required to have a clean criminal record, adequate finances to support yourself and your family, good health condition, along health insurance of one year after the permit is granted. In addition, you must not bear any real estate tax debts.
You can trust the services of our Latvian lawyers if you are a foreign investor and you are planning for Latvia investment citizenship.
How can you invest in obtaining Latvian citizenship?
Here is a general guide to obtaining Latvian citizenship by investment. The Latvian government offers four different investment plans to foreign investors:
- If a foreign investor is planning to obtain Latvia citizenship by investment, he/she should keep in mind that he is not allowed to buy agricultural land, forests, or wood and cannot pay in cash. However, he/she is permitted to buy one or two properties depending on the location and must invest a minimum of€250,000. The real estate must have a cadastral value of a minimum of €80,000. Upon approval, the applicant must pay 5% of the government fee, and for the registration of title 2%, stamp duty will be implemented;
- A person can obtain Latvian citizenship by investment if he/she has subordinate obligations with a credit institution of the Republic of Latvia for not less than €280,000, and the term of a transaction entered into with such a credit institution is not less than five years. He/she can request the first temporary residence permit for 5 years and must pay €25,000 into the State budget;
- An investment of €50,000 in such a Latvian company's equity capital pays at least €40,000 tax annually. The investor must pay €10,000 to the state budget, and he/she will get the instant five years residency. The residency period can be extended after five years. A biometric ID card is also issued, and it is renewable after every year;
- The purchase of interest-free state securities for particular purposes at a nominal value of €250,000 for Latvian citizenship. The foreign investor needs to pay €38,000 to the state budget. By making this investment, a person acquires a residence of five years which is extendable, and also a biometric ID card for five years.
These are some qualifying options to acquire Latvia citizenship by investment. These programs are primarily flexible and do not require any minimum number of days of physical presence in Latvia to renew the residence permit.
You can rely on our Latvian attorneys for any guidance related to investment methods in Latvia. Furthermore, our lawyers can also guide you about the VAT (value-added tax) requirements in Latvia.
When can you apply for Latvia citizenship?
A person can apply for a temporary Latvian residence permit usually valid for five years in the initial stages. After five years from receiving a residence permit, a person may apply for a permanent residence permit in Latvia. To qualify for this permit, a person must have lived in Latvia for four out of five years. In addition to this, the applicant must need to pass the Latvian language test at level A2. Furthermore, he/she should know the Latvian history and national anthem of the state. Latvia allows dual nationality in some cases, while usually, a person has to renounce the previous nationality. After nine years of legally living in Latvia, a person can apply for Latvian citizenship. Our lawyers are at your service if you want to relocate to Latvia.
Things to know about the Latvian golden visa
Suppose you have decided to apply for this program or are still in the middle. In that case, you will still be able to enjoy the many benefits the Latvia investment visa residency provides, which could result in citizenship, those benefits include:
- A cost-effective option to get residency: With Latvia investment visa routes starting as low as 250,000 euros, Latvia could be among the most affordable ways to obtain residency in Europe in the present.
- Travel all over Schengen Zone: Latvian residency grants you access to the whole Schengen area, visa-free. It means that you will be able to travel anyplace in the Schengen travel zone of Europe. There are no border controls required.
- Five years of residency: Certain countries will only allow residence for two years, only to need to extend the validity of your living. So even though you will be required to renew your visa in Latvia, you do not need to worry about having your residency denied for five consecutive years.
- Bring your entire family: You can include any dependent child, spouse, and your parents and grandparents (if they are financially dependent upon you) in one application.
- Speedy Processing: With a processing time between two and three months for applications for residency, Latvia offers one of the fastest routes to Europe's Schengen zone right now. Accelerate the process by collecting all of the required documents before.
- There is no physical residency requirement: You can come and go as you like, and you do not need to reside in Latvia. However, it would help to visit Latvia every year to keep your residency permit.
- Latvia is well connected: It is only 90 minutes from Moscow via air, and with so many connections to flights to all the European hubs, Latvia has excellent links to other nations.
- A favorable tax environment: Latvia has an average corporate tax of 9% and a government extremely open to foreign Latvia investment visas and new business ventures. It is a developed economy that can leverage also.
- A part of the Eurozone: The single currency zone can be advantageous for a variety of reasons. However, the most important reason is that it helps you save time and money. There are no foreign exchange charges and no need to hunt for the most competitive exchange rates and so on.
- Quality of living: You will be able to live a quality life in Latvia, a specific country, affordable Latvia investment visa, and European.
If you need more information in this regard, you can get in touch with our lawyers in Latvia. They will provide you with comprehensive guidance about Latvia investment visa. Besides visa, they will also provide you with detailed knowledge about Latvia immigration by investment.
How can I obtain a Latvia residency through investing in properties?
Our lawyers in Latvia have been the one-stop source for everything you require when moving to a different country for many years. We offer tax, Latvia immigration by investment, relocation guidance, and more. In addition, we can assist you in finding the perfect home with our real estate experts with a Latvia investor visa and conclude a deal and move in peace, comfort, and safety.
You will be surprised by the quality of the property that you can purchase in Latvia for EUR 250,000. Around 150 square meters of top-quality living space in the city center and close to all facilities, schools, and stores. It is waiting for you and your entire family to move in and appreciate the top quality of finishes and design. If you want to sell your house in the future, the rising cost of housing will ensure you make the most on the benefits of a Latvia investment visa.
There is no doubt that the Latvia investor visa real estate market is brimming with homes to suit any taste or budget. However, remember that you are just purchasing a home for you and your family members in the most beautiful country in the world. This Latvia investment visa can secure your future by helping you obtain Latvia permanent residency and a European passport. If you are interested in buying real estate by obtaining a Latvia investment visa, you are welcome to interact with our legal team. The lawyers at our law firm in Latvia can provide you with detailed guidance in this matter.
Permanent residency permits and citizenship
After obtaining a residence permit for five years, the applicant can apply for a permanent residence permit within five years. To be eligible for a permanent residence permit, the applicant must have lived in the country for a minimum of four years within the five-year time frame and pass the test for Latvian language at level A2.
The applicant should also have an established knowledge about the general background of the Latvia investment visa and the national song. The applicant must abdicate their citizenship before obtaining Latvian citizenship. However, a few conditions may be granted.
If you have any concerns or need a Latvia investor visa and a more detailed list of the exact expenses for your family members, please get in touch with our lawyers. In addition to the residency, you can rely on our lawyers for obtaining citizenship in Latvia.
What you need to know before investing in Latvia?
If you are planning to obtain Latvia citizenship by investment, you must know some of the general facts of this country. Latvia has a mix of people from different countries, especially Russian people. So, it is not a very tough job to get fused with the Latvian culture. Here are some facts about Latvia:
- The Latvian constitution prohibits discrimination and guarantees the fundamental rights of the people;
- 60% of subjects in the educational institutions are taught in Latvian or bilingually. This country also offers a unique education system in almost seven languages;
- According to the Eurobarometer survey 2012, 95% of people in Latvia speak one foreign language, 54% of people know two foreign languages, and 13% of people can speak three foreign languages;
- According to Sense of Belonging to Latvia, more than 94% of national minorities can communicate in the Latvia language;
- Latvia ranks among the top 15 countries in terms of gender equality.