Residence permit in the Republic of Latvia — is a legal document that gives a foreign citizen the right to stay in the Republic of Latvia for a certain period of time (a temporary residence permit) or permanently (a permanent residence permit). The residence permit in the Republic of Latvia gives a person an opportunity to enter and leave the country freely and unrestrictedly, work here, study, use medical and public services, execute invitation for issuing visas to relatives. A residence permit in the Republic of Latvia provides for a visa-free visit to any country of the Schengen zone. Possession of a residence permit in the Republic of Latvia facilitates the processing of visas to other countries, for example, to the USA and England.
Advantages of a temporary residence permit in the Republic of Latvia:
- Staying in the territory of the Republic of Latvia without a period limitation during the period of validity of the temporary residence permit.
- Free crossing of the borders of the countries of the Schengen zone and staying in them for up to 90 days during the half of the year.
- When a foreigner receives a temporary residence permit, he family members of the investor (either of the spouses and their minor children) will also be able to obtain a temporary residence permit.
- After 5 years of residence in the Republic of Latvia with a temporary residence permit, a foreigner gets the right to apply for a permanent residence permit, но but subject to certain conditions – knowledge of the state language and the absence from the territory of the Republic of Latvia during a period of five years not more than a year.
Currently, the effective standard regulation of the Republic of Latvia provides the following grounds for obtaining temporary residence permit for investors:
If a foreigner has invested in the main capital of the enterprise, and paid 10,000 euros to the state budget, and provided that the investment made was not less than:
- 50, 000 euros and the investment is made to an enterprise where work no more than 50 employees and the annual turnover of the enterprise does not exceed 10 million euros. In connection with the investment to one enterprise, the temporary residence permit is issued to no more than 10 foreigners, if each of them carried out the above-mentioned investment and made a contribution of 10,000 euros to the state budget.
- 100, 000 euros and the contribution is made in a company, where work more than 50 employees and whose annual turnover or total annual balance is above 10 million euros.
- 100, 000 euros and the contribution is made to a company in which, together with one or more subsidiaries registered in the Republic of Latvia, employs more than 50 employees and whose total annual turnover or annual balance is more than 10 million euros.
If a foreigner is a member of the board or a member of council, registered in the commercial register of the Republic of Latvia, or a procurist, administrator or liquidator of an enterprise, who has the right to represent an enterprise, or a person who is authorized to represent a merchant (foreign merchant) in activities related to the subsidiary, if the commercial activities of the enterprise or the subsidiary of the foreign merchant are entered to the commercial register at least 1 year prior to the request for a temporary residence permit, and this enterprise conducts an active economic activity, which gives the economic benefit to the Republic of Latvia.
If a foreigner has acquired a real estate in Riga or Jurmala, as well as in Adazhi, Baldone, Tsarnikavo, Garkalne, Ikshkile, Kekava, Marupe, Olaine, Ropazhi, Salaspils, Saulkrasti or Stopini district, and he is the owner of one functionally related real estate (with the exception of cases when the real estate is the undeveloped land) with a value of at least 250,000 euros, or outside these administrative districts — no more than two real estate objects (with the exception of cases when the real estate is the undeveloped land), and each of them is functionally related real estate, the total value of which is at least 250, 000 euros, if simultaneously exist the following conditions:
- a foreigner has no debts payable for real estate tax;
- payment for the total value of real estate was made in the form of non-cash settlement of funds;
- the real estate is acquired from a legal entity registered in the Republic of Latvia, the European Union, the European Economic Area or the Swiss Confederation, who is a taxpayer in the Republic of Latvia in the understanding of the standard regulation of the Republic of Latvia regulating this branch, or from a physical person who is a citizen of the Republic of Latvia, non-citizen of the Republic of Latvia, a citizen of the European Union or a foreigner, who is in the territory of the Republic of Latvia with a valid residence permit issued by the Republic of Latvia;
- the cadastral value of the real estate at the time of its acquisition is not less than 80, 000 euros. If a foreigner has acquired two objects of real estate outside Riga or Jurmala, or Adazhi, Baldone, Tsarnikavo, Garkalne, Ikshkile, Kekava, Marupe, Olaine, Ropazhi, Salaspils, Saulkrasti or Stopini district, the cadastral value of each real estate at the time of its acquisition is at least 40, 000 euros. If the cadastral value is less than the specified amount, the value of the real estate in accordance with the real estate market value established by the certified appraiser shall not be less than 250,000 euros or, if a foreigner has acquired two objects of real estate, the market value of each real estate must not be less than 125,000 euros;
- a foreigner, for the first time requesting a temporary residence permit, pays 5% of the value of the real estate to the state budget;
- the composition of the real estate does not include the land used in agriculture or land with forest.
If a foreigner has subordinated liabilities with a credit institution of the Republic of Latvia с in the amount of at least 280,000 EUR, the term of the contract concluded with this credit institution is not less than 5 years, and he has paid a contribution to the state budget in the amount of 25,00 EUR.
If a foreigner has acquired, for a special purpose, state non-interest-bearing securities with a nominal value of 250,000 EUR, and paid 38,000 EUR to the state budget.