Latvia offers permanent residency to investors and entrepreneurs who invest atleast €80,000 in new latvian businesses and enterprises in Latvia. Latvia is a baltic country in the northern Europe which joined the European Union in 2004 and also a member of schengen agreement. The currency in Latvia is Euro. Job creation is also one of the requirements to receive residence permit in Latvia, based on investment activity.
The minimum investment needed is €80,000 or more to receive ‘entrepreneur visa’ in Latvia. The investor will become a board member or director of the latvian company to qualify for temporary residence permit which is issued for maximum one or two years and then can be renewed by visiting Latvia in person.
- Immigrate to Europe and live in a EU schengen member country
- Free movement in schengen countries
- Opportunity to invest in real estate market
- Low cost of living compared to other euro countries
- No requirement to live in Latvia
- Spouse and children can apply
The Latvian temporary residence permit grants the investor right of free movement to other European countries in Schengen zone. The investor is free to leave the country anytime and is not required to stay permanently in Latvia. If the foreigner wants to apply for “permanent residence permit” after 5 years, he/she must have continuously stayed in Latvia for 4 years and 2 months for the past 5 years.
You can get long term permanent residence permit buying a property for €270,000 in Latvia or depositing the same money in a latvian bank. The Latvia business option is the cheapest way to get residence permit in Europe.
Latvia citizenship possible after 10 years of legal residence in Latvia.
