Latvia, officially the Republic of Latvia, is a country in the Baltic region of Northern Europe. Since its independence, Latvia has been referred to as one of the Baltic states. It is bordered by Estonia in the northern region, Lithuania in the southern, to the east is Russia, and Belarus to the southeast, as well as sharing a maritime border with Sweden to the west.
| Capital: Riga |
| AREA: 64,589 sq. km |
| Language: Latvian |
| Population: 81,400,000 |
| Currency: € |
| Govt: Unitary parliamentary constitutional republic |
| Visa free countries: 165 |
| Latvia is also a Schengen member country which joined the European Union in 2004. |
Latvia Golden Visa Program provides all the resident rights to the Investors and can be obtained by following ways;
- Business companies – 50000 EUR + 10000 EUR State budget payment
- Real Estate – 250000 EUR + 5% State budget payment of the real estate total value
- Bank deposit – 280000 EUR + 20000 EUR State budget payment
- Government obligations – 250000 EUR + 38000 State budget payment
Latvia Business Immigration Program
Latvia residence can be obtained by Business Incorporation under Latvia Business Immigration Program where the Investor will be appointed as a Board Member of the Company. Total Non-Refundable shared Capital Investment is around EUR 85000 to qualify for Temporary Residence Permit.
This Business Immigration Program doesn’t require the Investor physical stay in the country and Permanent Residence permit (PRP) after 5 years of living in Latvia.
Latvia Real Estate Investment Program
Invest EUR 250,000.00 in Real Estate of Latvia and obtain a Temporary Residence Card valid for 5 years.
Bank Term Deposit
Subordinated Term depositor Bonds from EUR 280.000 Term 5 Years + € 25.000 to the state budget.
- Schengen / European Country.
- Visa free travel and living in Schengen area.
- Low cost of living.
- Permanent Residence for Spouse and Children.
- Ease of doing Business.
- Quality Education.
- European Standard Healthcare Benefits.
- Visa Free Travel to Schengen areas.
- Right to Live in Latvia.
- Five years permanent residency, renewable indefinitely.
- Investment Exit Plan in just 5 Years.
- Only one day visit per year is required.
- Tax only on Latvian source income.
- Family members can be included.
Requirements
- Applicant must be 18 Years of age.
- Applicant must be a non-EU national.
- Applicant must hold a valid travel document.
- Applicant is able to provide proof of at least €14,000 of funds, €5,000 for a spouse and €3,000 for each dependent child.
- Applicant has managerial expertise.
Residence by Investment Program
Residence by Business Investment can be obtained by either;
- Foreign Board Member Option: Applicant will be appointed as a board member in a governmentally approved Latvian company that qualifies to be eligible for this program. Applicant must possess Managerial Experience for this option.
- Investment Option: Applicant need to Invest EUR 50,000.00 in equity of a governmentally selected Latvian companies which can only be liquidated after 5 years.
Latvia Residence & Citizenship Program Steps & Procedures
The first step in obtaining citizenship in Latvia is to obtain a temporary resident permit. Foreign investors may obtain these residence permits by investing in qualifying Latvian credit institutions or by investing a Latvian enterprise’s equity capital. To invest in a credit institution, the foreign national must invest a minimum of 286,000 Euros, and the length of the transaction must be at least five years without the possibility of earlier termination. To invest in an enterprise’s equity capital, the foreign national must invest a minimum of 36,000 Euros and must pay a minimum of 28,600 Euros in the next year.
After the foreign investor is approved for a temporary resident permit, the investor has the right to reside in Latvia for the duration of the permit (five years), obtain permits for the investor’s spouse and children, and freely travel and cross the borders of EU member states.
The second step in obtaining Latvian citizenship is for the foreign investor to become a permanent resident of the nation. The investor can apply for permanent residence five years after becoming a temporary resident. The application must contain proof that the investor has not violated the civil, criminal, or immigration laws of Latvia, and that the investor continues to develop and manage the investment in the credit institution or enterprise.
Finally, once the foreign investor has been a permanent Latvian resident for five years, the investor can apply for Latvian citizenship through a legal process called naturalization. The naturalization application is much more involved than both the temporary and permanent resident applications.
Latvia Company Registration Requirements
- Document preparation
- Document translations
- Notary fees
- Document legalization in Latvia
- Company registration in the Commercial Register of Latvia
- Government fees for company registration
- Registered office address
- Registration at the Latvia Tax Office
- VAT number registration (if required)
- Company bank account opening in Latvian bank
- Tax consultation for beginning of your business
- Accountant services for first 3 months for the company
- Booking of all services necessary for registration processes