Latvian Residence Permit through Real Estate Purchase – This is the fastest, easiest, and most affordable way to secure both a valuable investment in a stably developing country and the privilege of unrestricted travel within the Schengen Area

About the Immigration Program

BENEFITS:

• Simplicity: Compared to other EU countries, obtaining a Residence Permit in Latvia is straightforward and efficient, taking up to three months.    
• Affordability: The cost of securing a Residence Permit through property investment in Latvia is among the lowest in the European Union.
• Freedom of movement: A Latvian Residence Permit allows visa-free travel within the Schengen Zone.
• No long-term stay requirement: There is no obligation to reside permanently in Latvia; maintaining the Residence Permit requires staying in Latvia for just one day per year.
• Career and business opportunities: The Residence Permit grants the right to work in Latvia, establish companies, and conduct business across the EU.
• Stable income potential: If the investor does not intend to live in the purchased property, it can be rented out for long-term lease, ensuring a stable income stream and gradual return on investment.
• Family reunification: The following family members of the investor may also obtain a Residence Permit: the investor’s spouse, their minor or dependent children, individuals under the investor’s guardianship.
• Education and healthcare: the opportunity to enroll in local educational institutions and receive free medical care in Latvia.
• Long-term prospects: After holding a temporary Residence Permit, investors and their families may apply for a Permanent Residence Permit and later for Latvian citizenship, subject to additional requirements.

REQUIREMENTS FOR ELIGIBLE PROPERTY:

• Minimum investment: The property must be valued at a minimum of € 250,000 in Riga, Jūrmala, the Riga region, and other major cities.
• Cadastral value: The property must have a cadastral value of at least € 80,000. If the cadastral value is lower, an independent valuation must confirm that the transaction amount aligns with market value.
• Property type: Agricultural land and forested areas are not eligible for investment under this scheme.
• Seller: The property must be purchased from an individual or legal entity that meets the requirements of the programme.
• No Debts: The property must be free of unpaid property taxes at the time of application.

PROCESS:

• Property acquisition: Selecting and purchasing a suitable property in Latvia. Registration in the Land Register takes up to 10 working days.
• Document preparation: Gathering and preparing all necessary documents for the Residence Permit application, including completing the application form.
• Application submission: Once the Land Register certificate is obtained, the investor submits the Residence Permit application to the Office of Citizenship and Migration Affairs (PMLP) in Latvia or via a Latvian embassy or consulate abroad.
• Application review: The processing time varies from one to three months.
• Residence Permit issuance: The Residence Permit decision remains valid for three months. Within this period, the investor must travel to Latvia to collect the permit and pay the applicable fees. If the deadline is missed, the process must be restarted. If required, the embassy can issue a single-entry visa for travel to Latvia.
• Annual registration: The Residence Permit card is valid for 1 year. The investor must apply for renewal 30-90 days before expiry, personally presenting the required documents at the PMLP. Retaining ownership of the purchased property is a mandatory condition.
• Extension or permanent residence: After 5 years, the investor can either extend the temporary Residence Permit for another 5 years or apply for permanent residence.

WE OFFER:

• A free initial consultation on key aspects of obtaining a Latvian Residence Permit.
• Assistance in selecting Real Estate that meets the Residence Permit programme requirements and your preferences.                         
• A well-structured plan for your visit to Latvia, including property viewings or an online tour of selected properties.
• Full legal support for the property purchase transaction.
• Comprehensive assistance throughout the process – we maintain constant contact and respond promptly to all inquiries. 
• Post-purchase property management services, including rental arrangements.