Residence permit (residence permit) in Latvia.
On May 8, 2014, the Latvian Parliament in final reading adopted amendments to the Immigration Law providing for changes in the conditions for obtaining a temporary residence permit in Latvia on the basis of investments. First of all, the changes relate to obtaining a temporary residence permit based on the acquisition of real estate. So, from September 1, 2014 (effective date), the following criteria will be applied: The minimum purchase price of a property is 250,000 EUR (regardless of the location of the property). The cadastral value of the property is not less than 80,000 EUR (otherwise it is necessary to provide an estimate of the market value of at least 250,000 EUR). The subject of the purchase is one or more functionally connected “built-up” properties (for example, an apartment + parking lot, undeveloped land is excluded). The purchased property may not include agricultural land or forest. The property is acquired from a legal entity that is registered in Latvia, the EU, the EEA or the Swiss Confederation and which is a taxpayer in Latvia. If the property is acquired from an individual, then this person must be a citizen of Latvia / EU or an alien who has a valid residence permit in Latvia. The total value of the property must be paid, as before, by a cashless payment. The investor must pay a contribution of 5% of the transaction amount to the state budget of Latvia. This fee is not refundable. The fee is one-time and applies only to the investor (family members, as before, can obtain a residence permit without additional contributions). The above amendments will not apply to those investors whose ownership of the property is registered in the Land Register by August 31, 2014.
After 5 years of residence in Latvia as a temporary resident, the applicant has the opportunity to apply for permanent status. The total absence in the country is not more than 10 months for 5 years (that is, for example, 2 months per year). When acquiring the citizenship of Latvia on the basis of naturalization, it is necessary to renounce the previous citizenship, and also to show 10 years of residence in the country (5 years of residence permit and 5 years of permanent status).
Answer: The residence permit is issued for a period of 5 years. But it gives the right to live and work only in Latvia, and other Schengen countries can be visited without a visa for up to 90 days in a half-year. To live and work in Germany or Belgium with the Latvian residence permit is impossible, for this you need to have a passport of a citizen of Latvia or any other EU country.
Answer: No, you can not. The law is not about a deposit, but a subordinated loan. This type of deposit imposes significant restrictions on the early termination of the loan agreement. The minimum period for such a loan is 5 years. If the deposit term is less, then such a deposit does not entitle you to request a residence permit.
Question: What are the terms of the loan? What is the profitability?
Answer: The deposit can be made in EUR or USD. The minimum amount is 300,000 EUR or 400,000 USD. The deposit in euro is placed at 5% per annum, deposits in dollars – at 4%. Interest is paid every 6 months.
Answer: The registration of an enterprise in Latvia does not give an automatic right to obtain a residence permit. Under the existing legislation, residence permit is granted to foreigners who own Latvian enterprises or shares in enterprises only if the company pays taxes not less than 28,000 euros per year. Generate profits (more than 100,000 euros per year), which would lead to such taxes, can mostly large firms. It would be easier to push off your goals. If the main goal of residence permit in Latvia, then I would recommend receiving it not through a firm, but through the purchase of real estate. If the main goal of the business, and residence permit is not mandatory, then the profit can be any. It may not be at all. Work in Germany and France, a Latvian company can contract. But there are nuances.
Answer: The property is bought by the main applicant (for example, you). All other family members (dependent applicants) are included in your application form as FAMILY, that is, they do not need to buy anything.
Answer: When a child becomes an adult, he most likely will not be able to extend your residence permit with you, since he will no longer formally be a member of the family.
Question: How does the residence permit expire after five years?
Answer: After 5 years, you can renew the residence permit for another 5 years if the grounds that were in the process of issuing the primary residence permit were preserved, that is, if the property was not sold.
Question: What is the maximum period of stay in the Schengen / Latvia countries on the Latvian residence permit card?
Answer: In Latvia, you can live without a break 366 days a year, in the Schengen countries – up to 90 days in a half-year.
Question: What will be our additional costs when processing documents through your organization?
Answer: Legal services 4000 euros for the main applicant and 1000 euros for each member of the family. In addition, the service is paid for the purchase and sale of real estate in Latvia (3-5% of the transaction value).