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Temporary Residence Permit in Latvia
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Temporary Residence Permit in Latvia

Do you want to have a temporary residence permit in Latvian Republic and to move freely within the whole Schengen zone without visa? Contact us and we will help you to choose the most convenient version meeting your expectations! Our professionals and experienced employees will help you to prepare necessary documents in a proper and quickly manner.

Legal Latvia immigration requires Latvian temporary residence permit and it may be issued for a period of up to five years depending on individual situation. Usually, immigration to Latvia by temporary residence permits in Latvia for a period of one year are issued and they need to be prolonged by filing an application 90 days at the maximum and 30 days at the minimum before the existing Latvian temporary residence permit expires.

Upon five years of legal residency in Latvian Republic, you may apply for permanent residence permit of Latvia. Upon ten years of legal immigration to Latvia, you may apply for Latvian citizenship.

At present, you may obtain Latvian temporary residence permit on the following basis:

1.    Investment in Latvia.
a)    At least EUR 35 000 have to be invested in a company with a number of employees not exceeding 50 persons; the company must pay at least EUR 40 000 of taxes to the state budget per year and annual turnover shall not exceed EUR 9 000 000.
b)    Investment of EUR 150 000 to a company without any further requirements.
2.    Purchase of real estate in Latvia
Minimum value of the real estate in large cities of Latvia is equal to  EUR 141 043, in other regions it should be at least EUR 71 150.
3.    Deposit in a Latvian bank
A foreigner has to put a time deposit of at least EUR 280 000 to any Latvian bank for at least 5 years.

The Procedure of Obtaining a Temporary Residence Permit for immigration to Latvia by Investing into a Company, Purchasing Real Estate or Time Deposit in Any Latvian Bank:

1.    The Client sends us a copy of passport, residence address, contact details and indicates the program he is interested in to info@bizbon.com. Then, a contract on services is prepared and signed; the Client pays an advance payment of 50% of total amount.
2.    If the Client wishes, the transactions can be executed distantly. We will prepare a power of attorney within 3-5 days allowing our lawyer to represent the Client when making investments, purchasing real estate or handling documents for deposit. Then, the Client has to confirm it in his country and send us the original document. Otherwise, the Client has to arrive to Latvia personally and we will help him to manage all the documents and obtain the temporary residence permit in Latvian Republic within 1-2 months.
3.    Upon receipt of the power of attorney, preparation of the documents may take from 1 to 4 weeks.
4.    When the documents are ready, we inform the Client and he pays the rest amount according to the contract.
5.    The Client may arrive to Latvia to submit the documents for temporary residence permit or to submit the document in any Embassy of Latvian Republic.
6.    The decision is taken within a month upon submission of the documents; the Client has to come to the Migration Department to take a card of temporary residence permit of Latvia. The card is issued within 5-10 working days.

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