RESIDENCE PERMITS IN LATVIA
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Permits for Foreign Investors
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Rietumu was the first bank in Latvia to offer its customers full advisory services and support in obtaining the residence permit in Latvia. We help our customers to become EU residents since July 2010, when amendments to the Immigration Law of Latvia came into effect.
About 1000 investors and their family members have already become EU residents with support of Rietumu Bank.
The residence permit of the Republic of Latvia automatically guarantees free movement of persons within the Schengen area, currently consisting of 25 European countries.
Having fulfilled one of the below criteria, an investor may apply for the residence permit valid for the period of 5 years:
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Fastest and easiest way to the residence permit
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Placement of term deposit / acquisition of bonds
Amount: ≥ 300 000 EUR
Term ≥ 5 years
State duty: 25 000 EUR
Term ≥ 5 years
State duty: 25 000 EUR
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Real estate deals
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Investment in real estate
Value of which is
≥ 250 000 EUR
Real estate cadastral value as of the purchase date should be ≥ 80 000 EUR,
State duty: 5% of real estate value
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Invitation is required
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Business Establishment
Investment amount ≥ 35 000 EUR
taxes per annum ≥ 40 000 EUR, employees ≤ 50, annual turnover or balance sheet ≤ 10m EUR
Or ≥ 150 000 EUR*
employees > 50, annual turnover or balance sheet > 10m EUR
* In case of purchase of Rietumu Bank’s preference shares only the nominal value of shares is considered
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Residence Permit
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Temporary residence permit will be available both for investors and their family members – spouses, underage children and persons that are under the surveillance/official care of such investors. Upon expiry of the term of residence permit investors and their family members are eligible to apply for the renewal.
Starting from 2 April 2012 upon obtaining a residence permit, you will get an EU national ID card instead of the insert in your passport
The above stated terms and conditions on obtaining a temporary residence
permit apply provided the term deposit is placed/the investment in real
estate is made/or business is set up after July 01, 2010.