Residence Permit in Latvia

Document that gives a foreign citizen the right to permanent residence in the Republic of Latvia for 5 years. After this period, a residence permit can be prolonged.

Your benefits, when received a residence permit:

  • Free movement and residence in the Schengen countries (26 countries).

  • The right to work in an EU country.

  • Ability to establish own business and to purchase real estate.

  • The right of residence, work and residence in the EU for your spouse (s) and minor children.

  • You and your family members do not necessarily reside permanently on the territory of the country in which you have received a residence permit.

  • Understandable language of communication – Russian European country, which is also speaking English.

3 ways to get a residence permit in Latvia Our managers gladly will provide you with advice and legal support.

1.

Open subordinated deposit with PrivatBank.

The deposit amount from EUR 280,000 for a period of 5 years at 4.25% in EUR (interest is paid once in six months). The contract shall be concluded for at least five years without the possibility of early termination.

2.

Purchase finished real estate in Latvia.

Real estate value from EUR 250,000. Payment for the transaction should be made by bank transfer only. To apply for a residence permit on the basis of the purchase of real estate, you must pay a one-time fee of 5% of the cost of the purchased object.

3.

Open a business in Latvia.

Invest in the fixed capital of a company registered in Latvia at least EUR 35,000, and pay annual taxes in the amount of not less than EUR 40,000. Number of the company’s employees shall not exceed 50, annual turnover or balance – EUR 10 million. Second option – EUR 150,000 in larger company with more than 50 employees and annual turnover or balance of no less than EUR 10 million.

At your disposal:

  • individual consultations;

  • contact information of reliable real estate companies for selection of property and preparation of documents;

  • calculation and planning of costs;

  • assistance in preparation of documents, visas, and payment execution;

  • contact information: You may contact us by the following phones: (+371) 67852360 or (+371) 67852362, or e-mail: vip@privatbank.lv.