Everything you need to know about the Golden Visa in Latvia

Introduction

Latvia's Golden Visa is a residency-by-investment program that allows non-EU citizens to obtain a residence permit in exchange for a significant economic investment in the country. Launched in 2010, this program has become an attractive entry point for foreign investors wishing to establish a base in Europe. This article explores the program details, eligibility criteria, benefits and steps to obtain this visa.

Eligibility Criteria

To be eligible for the Latvia Golden Visa, applicants must meet one of the following conditions:

1. Real Estate Investment:
- Purchase of real estate with a minimum value of 250 EUR.
- The property must be located in major cities (Riga, Jurmala, or other important cities) or worth EUR 125 in other regions.
2. Investment in a Business:
- Investment of at least EUR 50 in a Latvian company with less than 000 employees and an annual turnover of less than EUR 50 million.
- For larger companies, the minimum investment is 100 EUR.
3. Bank Deposits:
- Deposit of at least EUR 280 in a Latvian bank for a period of 000 years, without the possibility of early withdrawal.
4. Government Bonds:
- Purchase of special government bonds for an amount of EUR 250.

Benefits of the Latvia Golden Visa

Obtaining a Golden Visa in Latvia offers many advantages:

1. Freedom of Movement:
- Access to the Schengen area allowing visa-free travel to the 26 member countries.
2. Business Opportunities:
- Access to the European market for business and investment.
3. Quality of Life:
- Live in a country with a good quality of life, quality education and advanced healthcare.
4. Safe Environment:
- Latvia is known for its political stability and security.
5. Permanent Residence:
- Possibility of applying for permanent residence after five years of temporary residence.

Application Process

Here are the steps to follow to obtain a Golden Visa in Latvia:

1. Select Investment:
- Choose the type of investment (real estate, business, bank deposit or government bonds).
2. Gather the Necessary Documents:
- Valid passport.
- Proof of sufficient funds.
- Clear criminal record certificate.
- Documents for the chosen investment (property deed, investment contract, etc.).
3. Submit the Request:
- Submit the application for temporary residence to the Citizenship and Migration Office of Latvia.
4. Approve the Investment:
- Once the application is approved, proceed with the investment.
5. Receive the Residence Permit:
- After verification of the investment, the residence permit is issued.

Associated Costs

In addition to the main investment, applicants must also plan:

Residency Requirements

To maintain residency status, there are no strict conditions of stay in Latvia. Investors can spend the majority of their time outside Latvia while maintaining their residence permit.

Conclusion

The Latvian Golden Visa represents an attractive opportunity for investors looking to establish themselves in Europe and benefit from the many economic opportunities and benefits of freedom of movement. With relatively flexible eligibility criteria and a clear application process, this program continues to attract many investors around the world.

To learn more about the Latvia Golden Visa and explore how Kouamou Capital can assist you in this process, contact us today.

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