Residence permit may be obtained on the following grounds:
- Acquiring of real estate with the minimum price of EUR 125 000.00 and more
- Investments in credit institution, starting from EUR 280 000.00
- Investment in the fixed capital of a limited liability company or joint stock company,
starting from EUR 50 000.00
- On the grounds of legal employment relation contract as an employee
- By assuming a board member’s position in a limited liability company or joint stock company.
Residence permit is a document that allows residing in the territory of the Republic of Latvia or other Schengen country without having a visa.
Temporary residence permits in Latvia are issued for a period of 5 years.
Settling of matters related to the obtaining of residence permit may take from 5 to 30 days.
Upon receiving the residence permit in Latvia the person is granted an identification card according to the European form.
Any foreign citizen is eligible to apply for residence permit.
The residence permit has to be reapproved on annual basis. Following the period of five years the holder of temporary residence permit becomes eligible to apply for permanent residence permit that will entitle him to free movement within and living in any Schengen country without the mandatory requirement to reside in Latvia for 180 days and more. Following another five years the person shall be eligible to apply for the citizenship of the Republic of Latvia that will entitle him to movement within and living in any Schengen country of European Union member country.
- Temporary residence permit is issued for a period of 5 years with further extension rights.
- Holder of the temporary residence permit is allowed to reside both in Latvia and beyond its borders for undefined period of time.
- Residence permit applies also the family members of an investor: spouses and minor children.
- Following the period of 10 years spent in the territory of the Republic of Latvia the holder of the permanent residence permit shall be granted the rights to apply to the citizenship of the Republic of Latvia through naturalization procedure.
- Settling of matters related to the obtaining of residence permit may take from a few weeks to several months.
- It is significantly cheaper to arrange residence permit in the Republic of Latvia compared to other European countries.
