Latvia prepared a surprise for those who received a residence permit in it.

Latvia prepared a surprise for those who received a residence permit in it.
All recipients of a residence permit (residence permit) in Latvia from 2018 on a second request will be required to pay a contribution of 5 thousand euros to the state treasury, there will be no exceptions for any categories. Corresponding amendments to the law on immigration was adopted by the government, according to “Sputnik Latvia”
At the beginning of June 2016, the Latvian parliament approved amendments to the law on immigration, according to which when extending the residence permit, foreigners must pay 5,000 euros to the budget. This involved those who received residence permits for investments in the enterprise, subordinated liabilities of banks or interest-free government securities. However, this rule was not applied to those who received a residence permit under the previous editions of the Immigration Act.
In February, the Saeima adopted new amendments excluding from the immigration law the condition that for a repeated request for a residence permit, 5 thousand euros should be paid to the state budget by those foreigners who received a residence permit on the basis of the acquisition of interest-free government securities. In September, the government instructed the Ministry of Economy to prepare and submit, together with the budget for 2018, amendments to the immigration law, providing for the abolition of all exceptions. According to the calculations of the Ministry of Economy, additional revenues to the budget as a result of these changes in 2018 may range from 3.7 to 5.1 million euros, in 2019 – from 5.5 to 7.7 million euros, in 2020 – from 932 thousand up to 1.1 million euros.
Over the past year, according to the managing partner of the law firm Padva and partners of the Baltic, Mikhail Parinov, the number of investors interested in Latvia to obtain residence permits has decreased at least fifteen to twenty times. At the same time, 50% of those who have already obtained a residence permit face serious problems with extending their residence permit because of bureaucratic obstacles. This led to the fact that about 15% of clients who have a residence permit in Latvia, refuse to renew it.
“The increase in the price barrier for obtaining residence permit in exchange for investments, from 140 thousand euros to 250 thousand, also influenced the decrease of interest to residence permit in Latvia,” Parinov said. At the same time, according to his assessment, if the residence permit program in Latvia remained the same and the Citizenship and Migration Board did not delay the consideration of annual renewals, the state could earn as much on this as, for example, Cyprus – and this is 5 billion Euro.
“Five thousand euros for the extension of the residence permit in Latvia is a small payment for five years of stability,” the deputy of the Seimas from the coalition Union of Greens and Peasants, a member of the National Security Commission, Karlis Sergeants, said in an interview with Baltkom radio. In his opinion, the number of those wishing to obtain residence permit in Latvia is decreasing due to the deteriorating economic situation in Russia. “People who have lived here for five years must somehow confirm once again that they continue to be in the territory of Latvia. Many get a residence permit and leave further, and this will bind them a little more to Latvia. I think that this is a small fee for five years of stability. Just wanting does not get any more. Russia is also getting poorer, so those who were a strong middle class six or seven years ago could now lose their business. Five thousand euros “from the nose” – this is not an acquisition, and not a loss for the budget, “said Sergeants.
Published on October 6, 2017 at 13:18.
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