LATVIAN CITIZENS AND RESIDENTS HAVE FREEDOM OF MOVEMENT IN THE SCHENGEN ZONE GRANTING THE FLEXIBILITY OF TRAVEL, BUSINESS AND STUDIES FOR CHILDREN AND YOUNG ADULTS.
Latvia is a country on the Baltic Sea between Lithuania and Estonia. Its landscape is marked by wide beaches as well as dense, sprawling forests. Latvia’s capital is Riga, home to notable wooden and art nouveau architecture.
ROUTE TO LATVIA RESIDENCY PROGRAM
COUNTRY KEY FACTS
- Capital: Riga
- AREA: 64,589 sq. km
- Language: Latvian
- Population: 81,400,000
- Currency: €
- Govt: Unitary parliamentary constitutional republic
- Visa free countries: 165
- Ranking: 12th
- EU residency card gives visa-free travel within Schengen area
- Right to reside in Latvia
- Five years permanent residency, renewable indefinitely
- Investment required only for the first five years
- Only one day visit per year is required
- Tax only on Latvian source income and remitted income
- Family members can be included
- The main applicant:
- *must be at least 18 years of age
- *must be a Third Country National, ie. a non-EU national
- *is in possession of valid travel document as are his dependents
- *Is able to show at least €14,000 of funds, €5,000 for a spouse and €3,000 for each dependent children
- *has managerial expertise (only for foreign board member option)
- FOREIGN BOARD MEMBER OPTION The applicant has to prove managerial expertise in order to qualify for this option. Applicant will be assigned as a board member in a governmentally approved Latvian company that qualifies to be eligible for this program. Applicant will be granted temporary residence, renewable for 5 years after which permanent residency can be applied for. This program costs €41,000 and the processing time may vary from 60 to 90 days. Family members can be included.
- INVESTMENT OPTION To qualify for Latvian Residency by investment, the main applicant is required to invest €50,000 in equity of a governmentally selected Latvian companies. These shares can be sold after 5 years once the applicant gains the Permanent Resident status. Other fees include lawyer, government and other fees totaling €95,000 investment included.