Latvia offers ‘golden visa’ to foreign investors who invest € 80,000 in Business or buy a real estate property atleast €250,00. Currently business option is the cheapest golden visa in Europe.
Latvia is more popular among Russians, Chinese, Pakistanis and Indians.
Investors and family members get 5 year residence permit to live in Latvia which can prolonged thereafter.
- Cheapest golden visa in Europe
- Profitable real estate investment in Europe
- Residency in EU schengen country
- Low cost of living
- Visa free movement in Schengen.
- Family and children qualify for latvian residency
- No requirement to live permanently in Latvia (visit once a year)
The real estate purchase requires additional 5% state fee paid to Government.
Business investors can apply for residency in Latvia by incorporating a latvian firm or participate in an existing latvian firm. The investor can also become a board member to qualify for residency. The total not refundable costs will be around EUR 80,000 and it takes 2-3 months to receive your Temporary Residence Permit (TRP). This is a special immigration option for people who dont want to live in Latvia all the time.
Investors can buy a property (apartment, luxury home) in Riga, Jurmala or major cities. With Latvia considered to have one of the lowest house prices in Europe, foreigners now account for 70% of all property transactions mainly from Russians, Chinese, Ukrainians and Uzbeks.
The property prices of new apartments in Riga capital are priced from €1,450 to €3,800 per sq. m. in 2016.
Permanent residency is possible after living 5 years uninterrupted in Latvia, which then leads to Latvian citizenship after another 5 years, speaking Latvian language and fully integrating to latvian culture.
Courtesy/Source: http://www.latvia-immigration.com
