The latvia residence by investment program allows foreign nationals to obtain a temporary residence permit in Latvia through making an investment. Over the past few years, this program has become increasingly popular due to Latvia’s strategic location, business-friendly environment, and access to the Schengen area. This article will analyze the requirements, application process, and benefits of obtaining a Latvia residence permit through investment.
Eligibility criteria for Latvia residence by investment
To be eligible for the Latvia residence by investment program, the main requirements are: 1) Making an investment of either €250,000 in a credit institution or €500,000 in equity capital, to be locked in for 5 years; 2) Paying a fee of €25,000 per applicant; 3) Having a valid passport and clean criminal record; 4) Purchasing valid health insurance. The applicant, their spouse, and any dependent children under 18 can be included in one application.
Straightforward application process with decision in 2 months
The Latvia residence by investment application process is straightforward and takes 1-2 months on average. After choosing a local agent to assist with the application, the investor will open a bank account, make the investment, provide the required documents, undergo background checks, and attend an interview. Usually within 2 months, a decision will be made by the Office of Citizenship and Migration Affairs.
Numerous benefits including visa-free access to Schengen area
The key benefits of the Latvia residence permit include: 1) Visa-free access to Schengen area countries; 2) Ability to live, work or study in Latvia; 3) Pathway to Latvia and EU citizenship after 5+ years; 4) Low minimum stay requirement of only 90 days every 5 years; 5) Inheritance rights under Latvia law. The residence permit is valid for 5 years and renewable.
The Latvia residence by investment program provides an excellent opportunity for global investors and families to gain residence access to the EU. With reasonable eligibility criteria, a straightforward process, and abundant privileges, Latvia offers great value within the European RBI market.