Friday, November 8, 2024

Golden Visa Latvia for Real estate or Business

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

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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