Conditions on investing in real estate - Immigration in Latvia for real estate investors

Conditions on investing in real estate:

  1. the total amount of transaction (involving one or several real estates) must be at least EUR 250 000 Latvia wide;
    • with the official cadastral value at least EUR 80 000;
  2. state fee of 5% from the real estate value must be paid to the government upon receiving the residency permit;
  3. only a bank transfer may be used for purchasing a real estate;
  4. the foreigner does not have and has never had any real estate tax debts in Latvia;
  5. the transaction is concluded after 1 September 2014;
  6. real estate acquired from a legal person registered in the Republic of Latvia or a natural person who is a Latvian citizen, Latvian non-citizen, citizen of the European Union;
  7. a residence permit is issued after registering the ownership in the Land Register.

 

RESIDENCE PERMITS

A residence permit is a document providing a foreigner the rights to reside in the Republic of Latvia for a definite period of time (a temporary residence permit) or permanently (a permanent residence permit)

What is a residence permit?

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As of 2 April 2012 the residence permit is issued in the format of the identification card, therefore biometrics details must be delivered prior to receipt of the residence permit (fingerprints (starting from the age of six) and digital picture of face).

What are the cases a residence permit is necessary?

A residence permit is necessary if you are willing to reside in the Republic of Latvia for a period of time exceeding 90 days within half a year counting from the first day of entrance.

What are the documents to be submitted to receive a residence permit?

  • Procedure in accordance with which new citizens of Canada shall enter the Republic of Latvia, according to the agreement between the Government of the Republic of Latvia and the Government of Canada regarding exchange of new citizens. Read more.
  • The procedure under which young citizens of New Zealand enter the Republic of Latvia pursuant to the Treaty of the Government of the Republic of Latvia and the Government of New Zealand regarding the Working Holiday Scheme. Read more.

Upon receipt of temporary residence permit, a foreign national shall present:

  • a valid health insurance policy for a year,
  • a health certificate issued by a Latvian health care institution stating that the foreign national does not suffer from tuberculosis in active phase.

When submitting documents to apply for permanent residence permit, based on Paragraphs 2, 3, 6 and 7 of Part 1 of Clause 24 of the Immigration Law, a foreigner shall present a certificate on state language skills evidencing the knowledge of state language at level A2.

The documents being issued abroad must be legalized if international agreements do not stipulate otherwise. When submitting copies of documents that are not certified by a notary, originals of such documents must be presented.

Document legalisation

 Where can the documents be filed?

Questionnaire for applying for a residence permit

Procedure of approval a letter of invitation

How long may the residence permit be issued for?

Procedure of registration of the residence permit

State fee for the examination of documents filed to apply for a residence permit

How to contest a negative decision regarding issuing a residence permit

In what cases is the residence permit not issued?

In what cases may the RP issued to you be annulled?

Where to receive additional information about the issue of residence permits?