Amendments to the Law on Immigration of Latvia.

Amendments to the Law on Immigration of Latvia.
The management of the divorce and migration of Latvia agrees that the Latvian government plans to amend the law “On Immigration”, which deal with the receipt of residence permits by foreign investors, the residence permit of Latvia.
According to the law “On Immigration”, which came into force on July 1, 2010, a foreigner can obtain a temporary residence permit in the country if he invests in the Latvian economy and promotes its growth (buys real estate, brings to commercial banks subordinated capital for the amount of at least 200 thousand lats for a period of 5 years, will invest at least 20 thousand lats in the basic capital of local enterprises).
According to the Office of Citizenship and Migration Affairs of Latvia, for five months of the law, foreigners found in it loopholes that allow them to obtain a residence permit without serious costs.
Thus, representatives of the Office of Migration reported that they recorded a case when the husband sold his wife 2 square meters. meter in the Jurmala apartment for 100 thousand �����. Thus, under the law, the spouse can officially obtain a residence permit. “The state benefits from this, except for the state duty of 2% of the transaction amount,” the ministry said. In addition, when a foreign company owns an enterprise in Latvia, and a share in it is bought by a foreign citizen, the calculations take place somewhere in the offshore zone and as a result, the Latvian state does not receive anything from the transaction.
Therefore, the Office of Citizenship and Migration Affairs has proposed to introduce into the law the point at which foreigners will have to buy property only from citizens of Latvia or the European Union in order to obtain a visa. As stated in the Cabinet of Ministers, this law will come into force no later than July 1, 2011.
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