By investment in real estate

TEMPORARY RESIDENCE PERMIT IN LATVIA BASED ON
INVESTMENT IN REAL ESTATE

Introduction

Republic of Latvia legislation provide opportunity to get temporary Latvian residence permit when foreign purchase real estate which registered in Latvia.

Temporary residence permit is issuing for the period up to 5 year.

Process

THE PROCESS OF GETTING TEMPORARY RESIDENCE PERMIT IN THE REPUBLIC OF LATVIA CONSISTS OF 2 STAGES:

  • Purchase of real estate.

Requirements for the real estate:

1. price of the real estate at least 250 000 EUR which should be transferred via bank.

2.  official cadastral value at least 80 000 EUR.

The foreigner must not have and must never have had any real estate tax debts in Latvia.

  • Submission of the application for the temporary residence permit.

Foreign who apply for temporary residence permit must has:

1. a valid health insurance;

2. reference from a Latvian medical institution proving that the foreigner does not suffer from tuberculosis in the active phase;

3. a document issued by a competent authority in the home country of the applicant indicating that the foreigner has no criminal record.

4. bank statement which shows that foreign has enough financial means to support living expenses (960 EUR per month).

Foreign who invests in real estate spouse and children under 18 years could apply for temporary residence permit also. Family member must have the same documents which mentioned above. Just means of source are less: for spouse at least 320 EUR per month, 200 EUR per month for each children.