Residency permits for non-EU nationals
Non-EU nationals can receive residency permits in Latvia since 2010 in accordance with the law of Immigration. The permit provides residency and allows free travel rights across Latvia and other Schengen countries. The law was last updated in 2014. The most popular ways to acquire this permit are listed below:
- Acquiring real estate, which value exceeds 250,000 EUR and paying a 5% state duty from the value of the property;
- Investing more than 35,000 EUR in the fixed capital of a company. In addition this company has to pay more than 40,000 EUR in taxes annually;
- Investing more than 280,000 EUR in a registered financial institution and paying a one-time state duty of 25,000.
- Opening a foreign representation with a proven significant value to the economy of Latvia.