Discover The Latvian Residence Permit by Property Investment
Latvia, a hospitable Baltic State Country in Northern Europe, offers a unique opportunity for foreigners to immigrate through Real Estate Investment. This program provides an investor and their family with a Latvian Residence Permit, which includes visa-free access to the Schengen Area and other European Countries. The process is quick, typically taking just five working days, and the permit is valid for Five Years with the option to extend or convert it into citizenship. This program is particularly appealing due to its relatively low entry threshold and the ability to use credit money for investment.
Benefits of the Program
- Minimum Investment: €250,000 in Real Estate.
- Credit Transactions: Mortgages are allowed.
- Property Income: Real Estate can be rented out.
- Quick Processing: Applications are considered from five days.
- Family Inclusion: Spouses and Children under 18 can be included.
- Visa-Free Travel: Access to 29 Schengen Countries & many other European Countries.
- Right to Live in Latvia: Residence Permit for five years with possible extensions.
- No Restrictions: No limitations for education, work, or business.
- Free Education, Medical & Transportation for dependent minors.
- No IELTS English Test.
Program Overview:
The Latvian Government introduced this program to attract foreign investment and stimulate the Real Estate market. While the program has undergone revisions over the years, it continues to be a viable option for those seeking European Residency and becoming more appealing with the latest developement and advancement in the Latvian Real Estate Market.
Eligibility Criteria:
- Investment: Purchase real estate valued at €250,000 or more.
- Financial Stability: Demonstrate sufficient financial means to support yourself and your family (€24,000 per year for a family of three).
- Clean Record (PCC): Possess a clean criminal record.
- Good Health: Be free from contagious diseases.
Required Documents:
- Personal Documents:
- International Passport (valid for at least 6 months)
- National ID Card or Civil Passport
- Application Form
- Photographs
- Certificate of No Criminal Record
- Proof of Financial Means (bank statements, income certificates, etc.)
- Proof of Residence (if applicable)
- Medical Certificate and Insurance
- Investment Proof:
- Bank Statement confirming property payment
- Sales Contract
- Property Valuation Report
- Stamp Duty Payment Receipt
Additional Documents (may be required):
- Resume/CV
- Proof of Address in Home Country
- Marriage Certificate
- Birth Certificates of Children
Rights and Obligations:
- Rights:
- Visa-free travel within the Schengen Area
- Right to live and work in Latvia
- Access to education and healthcare
- Freedom of movement within the EU
- Obligations:
- Pay taxes on property and income
- Maintain the property
- Adhere to Latvian Laws & Regulations
Application Process:
- Property Acquisition: Select and purchase a property that meets the program’s requirements.
- Document Preparation: Gather necessary documents, including passports, financial statements, and proof of investment.
- Application Submission: Submit the application to the Riga Office of Citizenship and Migration Affairs (OCMA) or a Latvian consulate in your country.
- Application Processing: The OCMA will review your application, typically within 5-30 working days.
- Residence Permit Issuance: Upon approval, pay the required state fee and obtain your residence permit.
Path to Citizenship:
- Permanent Residency: After 5 years of legal residence, you can apply for permanent residency.
- Citizenship: After 10 years of legal residence (including 5 years of permanent residency), you can apply for Latvian citizenship.
Ready to explore the Latvian Residence Permit by Property Investment Program?
Contact bridge2europe.in today for a free consultation and personalized guidance.
We can help you:
- Assess your eligibility for the program
- Guide you through the application process
- Connect you with trusted real estate professionals in Latvia
- Provide expert advice on all aspects of the program
Don’t wait – take the first step towards your European dream!
Elevate Your Lifestyle: Invest in a Latvian Residence Permit. Contact us Now
Shehzad Khan
Ambassador – Mission Latvia
