Latvia
It is possible to obtain residency in Latvia through real estate investment, specifically through the Latvia Golden Visa program. This program allows non-EU citizens to gain a residence permit in Latvia by making a qualifying investment in real estate.
Country information
Population: 1'871,882 hab aprox.
Capital: Riga
Official Language: Latvian
Income percapita: $40,891 USD
Latvia Golden Visa (Real Estate Investment):
Investment in Real Estate:
Minimum Investment: The investor must purchase real estate in Latvia worth at least €250,000.
Additional Costs: On top of the €250,000 investment, there are government fees, which typically amount to an additional €50,000 to €60,000 (depending on the region).
Location Requirements:
The real estate must be located outside of the capital city, Riga, or in certain rural areas, where lower-value properties are acceptable for the investment.
If the property is located in Riga, Jurmala, or other major urban areas, the investment threshold might be higher, typically around €500,000.
Duration of Residency:
The Golden Visa gives you a temporary residence permit for 5 years. After this, you can apply for an extension or transition to permanent residency (Indefinite Residence).
After 5 years of continuous residence, you may be eligible to apply for Latvian citizenship, although language and other integration requirements must be met.
Family Members:
The Golden Visa allows the investor’s family members (spouse, children under 18, and sometimes adult children) to be included in the residence permit application.
Benefits:
Schengen Area Access: A Latvian residence permit allows you to travel freely within the Schengen Area.
Tax Benefits: Latvia has relatively low personal and corporate tax rates compared to other European countries, which might be an added benefit for business owners.
Steps to Apply:
Purchase of Real Estate: The first step is to purchase the property that meets the investment requirements.
Application Submission: You will need to submit an application to the Latvian authorities, including proof of your investment.
Residence Permit: After approval, you will be granted a temporary residence permit, which is usually valid for 5 years.
Renewal and Citizenship: You can renew the residence permit and, after five years of residence, apply for permanent residency or citizenship.
In summary, real estate investment is a viable route to gaining residency in Latvia, with the potential to lead to permanent residency and citizenship after meeting certain requirements. The Latvia Golden Visa program is one of the more affordable investment immigration options in Europe.
Frequently Asked Questions
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