Every person desirous of staying in the Republic of Latvia for more than 90 days within a period of six months is required to obtain a temporary residence permit. The Immigration Law provides for temporary residence to immigrant investors on the basis of investment made in:
- Equity Investment in new or existing company
- Real Estate
- Deposit in a credit institution
- Investment in Bonds.
Inclusion of Family Member: Latvia Investor Residence Programme
The following family members are entitle to apply for residence permit along with the investor:
- Minor children including children under guardianship of applicant.
- Persons under guardianship of the applicant.
Duration of Permit: Latvia Investor Residence Programme
The temporary residence permit for all three classes of investors shall be issued for a period not exceeding five years.
The permit shall be registered annually.
Registration of Permit
The investor must personally submit documents for registration of a valid temporary residence permit must be filed with the Office of Citizenship and Migration within 30-90 days prior to the expiry of the term for registration of the permit.
A letter of invitation approved by the Office is required for the registration only for an investor investing share capital in an Equity company in Latvia.
The following documents must be submitted for registration of the residence permit:
- Valid travel documents.
- Proof health insurance policy.
- If applicant is investing in real estate, the applicant must submit proof of absence of real estate tax debts.
- If applicant is investing through deposit with a credit institution, the applicant must submit certificate issued by the institution that the deposit agreement has not been terminated before the expiry of its tenure.
- An applicant investing share capital must submit proof that the company paid taxes and fees of value not less than EUR 40,000 during the previous year.
- Investors in all three classes of investment must submit proof of payment of state social insurance and personal income tax contributions, if such documents are available with the investor.
The decision to register the permit shall be taken after:
- Examination of the documents filed by the applicants, and
- An interview, and
- Verification of other information.
Fees: Latvia Investor Residence Programme
|Examination of documents submitted by share capital investors, real estate investor, or deposit investors|
|within 30 days||EUR 142.29|
|within 10 business days||EUR 284.57|
|within 5 business days||EUR 426.86|
|State fee for Examination of documents submitted by share capital investors, real estate investor, or deposit investors|
|within 30 days||EUR 71.14|
|within 10 business days||EUR 142.29|
|within 5 business days||EUR 213.43|
Contesting Negative Decision
The inviter, in case of a share capital investor, and the applicant investors, in all other cases, can contest the refusal of issuance or registration of the residence permit within a period of 30 days from the day after the entry into force of the decision.
The application must be addressed to the Head of the Office of Citizenship and Migration Affairs.
Health Insurance Requirements
Upon receipt of temporary residence permit, the applicant shall present the following documents:
- Proof of valid health insurance policy obtained for a year,
- Health certificate issued by a Latvian health care institution certifying the applicant does not suffer from tuberculosis in active phase.
Latvia Permanent Residency for Investor
According to Section 24 of the Immigration Law, a foreigner who has continuous resided in Latvia with a valid temporary residence permit for a period of not less than five years before the end of the term of the last temporary residence permit can apply for a Permanent Residence Permit.
The law allows the Minister for the Interior to issue a permanent residence permit even if the residency requirements are not met provided it is in the State interests of Latvia.
The permit shall be registered once in every five years.
Fees: Latvia Investor Residence Programme
|State fee for the examination of the documents submitted for the registration of a permanent residence permit|
|within 30 days||EUR 35.57|
|within 10 business days||EUR 99.60|
|within 5 business days||EUR 170.74|