Professional Support for Obtaining Residence Permits in Latvia
Support for Obtaining Residence Permits in Latvia
Baltconsult provides support in obtaining a residence permit in Latvia which allows a foreigner to stay in the territory of the European Union. Temporary residence permits issued for five years anticipates stay in the territory of Latvia, without restriction of its minimum or maximum duration, as well as stay in the Schengen Agreement countries during a period not exceeding 90 days a year.
Obtaining Residence Permits in Latvia
Baltconsult renders consultations for obtaining residence permits in Latvia which allows free and visa-free travel in the territory of all countries of the Schengen zone.
Valid migration legislation of Latvia anticipates annual confirmation of the temporary residence permit for the purpose of monitoring observation by the foreign resident of the investment terms and conditions pursuant to which this residence permit was granted.
Placement of a subordinated deposit in a Latvian bank:
Minimum amount of the deposit – EUR 280 000 (USD ≥ 316 000)
Deposit period – 5 years
Additionally, a stamp duty in the amount of EUR 25 000 must be paid to the state budget
Interests are paid, as a rule, every half year
Latvian bank provides the investor with a notice on placement of the deposit which forms the basis for obtaining temporary residence permits for the investor and his family members
Acquisition of real estate in Latvia:
Acquisition of real estate in Latvia in the amount of minimum EUR 250 000 (where the cadastral value is minimum EUR 80 000 at the time of acquisition), which is paid for one house or apartment, in contrast to the previous opportunity when several objects could be acquired for the required amount
When obtaining temporary residence permit for the first time, a stamp duty of 5% of the amount of the real estate purchase price must be paid
Starting business in Latvia:
Having invested EUR 35 000 in a company, which employs up to 50 persons, which annual turnover or balance amount does not exceed EUR 10 000 000 and which pays taxes during a year in the amount of minimum EUR 40 000
Having invested EUR 150 000 in starting a new company, which employs minimum 50 persons and which annual turnover is minimum EUR 10 000 000. There are no restrictions regarding the amount of paid taxes
Establishing a Representative Office of a Foreign Company in Latvia
One of the most attractive and economically beneficial ways for obtaining residence permit in Latvia is opening a representative office of a foreign company. Baltconsult provides support in registration of a representative office and obtaining residence permit.
The representative office may be opened for a company registered and operating in any country. Regardless of the fact that such representative office is not a legal entity and may not be engaged in commercial activities, it can represent interests of your organisation in the territory of the Republic of Latvia and the entire EU. You can advertise activities of your organisation, conduct business negotiations and conclude agreements in favour of the holding company.
When registering a representative office, a residence permit is issued for four years and requires annual extension. To grant a residence permit in Latvia, primarily the economic benefit for the state is considered. When registering a representative office of a foreign company, there are no specific tax obligations or strict requirements related to the operations area or the amount of investments in the work of the representative office. This makes the given way of obtaining residence permit maximally convenient, simple and efficient.