Latvia Investor Program
Latvia is a baltic country in the northern Europe. Latvia joined the European Union in 2004 and is a full EU member country. Latvia attracts large number of investors and corporates to invest in real estate, because of cheap prevailing real estate prices and affordable cost of living.
As per the program a `Temporary Residence Permit` (TRP) is given to the foreign investor, for either deposit a money in a latvian bank or real estate or create a new business.
- Bank Term Deposit (Min EUR 300,000which equivalent of LVL 200’00)
- Investment in Real Estate (Minimum EUR 150,000 in Latvian major cities like Riga)
- Business Formation (Investment EUR 70,000)
In addition, our fee to assist you for getting residence permit can range from EUR 2000 to EUR 4000 if you prefer the real estate option.
The Latvia real estate option is the cheapest way to get residence permit in Europe but bank term deposit is the fastest method with minimal formalities. The deposit term in 5 yrs and interest guaranteed is usually about 5-6%. For starting a new business in Latvia, residence permit can be obtained through invitation only. For real estate investments in Riga and major cities, the minimum is EUR 150’000.
Investors will be issued a `temporary residence permit` for period of 5 yrs with annual renewals. The permit issued allows visa free travel to all 25 schengen countries. It is also issued to any family members accompanying with the investor. The temporary residence permit grants the investor right to work and free movement to other European countries in schengen zone. The investor is free to leave the country anytime and is not required to stay permanently in Latvia.