Residency by Investment – Introduction

Latvia - Residency by Investment

Residency is a legal status offered to someone who is not an actual citizen of the country. This visa status gives the individual multiple benefits like the right to study, work, live and access healthcare in the nation. It is also commonly considered a way to achieve citizenship by naturalization, given the person resides in the country for a given period.
 
Because of its flexibility, many countries offer Residency by Investment program. It is a way for someone to get residency status in exchange for an investment made towards the economy of the country. The applications of people who opt for this mode are usually quickly processed.
 
Being able to reside in multiple countries is a personal and professional advantage that all high-net-worth individuals wait to grab hold of.
 
Such options are also called Golden Visa Programs, and a lot of countries within the European Union offer this right now. If you want to reside in another country as a resident and have the capacity to invest in the economy of the nation, then Residency by Investment may be the perfect way to achieve this.
 
Get in touch with VLinks Group to know how best to make use of the Residency by Investment opportunity.

Latvia

The Republic of Latvia is a Baltic State in Northern Europe. Riga, its capital, is a marked UNESCO World Heritage Site. Its close proximity to Russia is a definite advantage in its favor. Latvia is filled with forests, parks, and more than 12,500 rivers!

The Residence by Investment program was launched in 2010 and continues to gather interest.

Why opt for a Latvian Residency?

  • Ability to travel visa-free to all of Schengen Area.
  • Quick processing of the residency application.
  • You get the right to study, work, travel, and do business in Latvia as a resident.
  • You will be able to include your immediate family members (spouse and minor children) in the application.

Investment Options

There are four government bonds you can invest in to participate in the golden visa program.

 

Type

Investment

Holding period

State budget donation

1

Latvian Bank Deposit

EUR 280,000

5 years

EUR 25,000

2

Interest-free government bonds

EUR 250,000

5 years

EUR 38,000

3

Real Estate

Min EUR 250,000

5 years

5% of property value

4

Share capital

EUR 50,000 in small companies

5 years

EUR 10,000

EUR 100,000 in medium or large companies

5 years

EUR 10,000

 

Application process

  1. Contact VLinks Group and express your interest in obtaining a Latvian Residency by Investment.
  2. Fill up the application forms and submit them to the Latvian Office of Citizenship along with the appropriate fees.
  3. The Office of Citizenship and Migration Affairs may take 1-3 months to decide on your request.
  4. Once your application is approved, you must travel to Latvia (within three months), submit your biometrics, and make the right investment.
  5. You will then receive the temporary residency permit which will be valid for five years.
  6. You can apply for a Permanent Residency after this period.

Processing time

It takes 1-3 months to process the application.

Citizenship eligibility

To receive a PR status, you will have to complete your five-year residency mark in the country and pass the basic Latvian language test. You will also be quizzed about the history of Latvia and its national anthem. You can apply for citizenship after receiving your permanent Residency.

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