Latvia

COUNTRY AND PROGRAM OVERVIEW LATVIA

Northeastern Europe, located along the shores of the Baltic Sea and the Gulf of Riga, the Republic of Latvia, is one of the most naturally beautiful and green countries in the world with the rich history, high-quality lifestyle, excellent-quality medical care, and high-standard education system in the European Union famous for its pristine nature, stable government, delicious cuisine, extended beaches, great Art Nouveau buildings combined with historic heritage architecture, various social services, and warm people. The Latvia Residence
by Investment Program was launched in 2010 that provides temporary residency with unlimited renewable option every five years with no requirement to live in Latvia to retain it. Applicants and their dependent family members can live, study and work in Latvia and gain freedom of movement within the entire Schengen area with the option to obtain the Permanent Residence after 5 years.

Capital : Riga

Language :Latvian

Population :1,800,000

Currency :Euro (EUR)

LATVIA RESIDENCY BY INVESTMENT OVERVIEW

PROCESSING TIME

• 1 to 3 months

VISA FREE COUNTRIES

• Visa free access to the Schengen Area

INVESTMENT TYPE

• Equity investment in a Latvian company*, Bank deposit, Government bond
* The company should annually pay at least EUR 40,000 in tax

INVESTMENT AMOUNT

• Minimum investment of EUR 50,000 PLUS EUR 10,000 donation

DEPENDENTS FAMILY

• Spouse, children under the age of 18

KEY BENEFITS

• Right to live, study and work in Latvia
• Freedom of movement in Europe’s Schengen Area and EU
• Retain residency without physical presence obligation

LATVIA RECIDENCY’S ADVANTAGES

KEY FACTS

Obtain temporary residence in Europe in a fast, reliable, and secure process.

Business investment is the cheapest option for EU residency.

The possibility of an unlimited renewable residence permit (each time for 5 years).

No physical presence obligation to retain residency.

No need for an interview, language, education, managerial or business experience for temporary residency.

High-quality healthcare service and high-level education system (with several English-speaking schools and universities).

Option for obtaining Permanent Residency after residing 4 out of 5 years in Latvia.

Low cost of living compared to the other European countries.

Ease of communication and integration due to the multilingual environment.

Latvia is a great place for outdoor enthusiasts and those who enjoy nature.

GLOBAL MOBILITY

The right to live, study and work in Latvia.

Visa-free travel to the Schengen Area.

Opportunity to obtain a European Citizenship after 10 years with a powerful passport that grants visa-free access to +180 destinations including the United States.

ASSET PROTECTION

Strategic location for doing business in the bridge of east and west of Europe’s Economy.

Professional and well-educated workforce.

Favorable tax environment.

INVESTMENT TYPE AND AMOUNT

Investment in a company, bank deposit or government bond

^{Minimum EUR}50,000

With EUR 10000 donation to the state budget
At least five years hold
need to be held for residence permit renewal

TIMELINE

WEEK 1-2

After retaining MICS and paying its initial professional fee, the first step is to sign the Power of Attorney (POA) document.

Then, MICS processing team will provide the applicant with a precise list of civil and financial documents required by the government and provide health insurance.

WEEK 2-4

The applicant should make the required investment by investing in the equity capital of a company.

The MICS legal team will review the documents and financial sources as the client should provide evidence of financial means to support himself/herself and his/her family members. Then the MICS will submit the complete application package to the Office of Citizenship and Migration Affairs. This is when the administration and application fees will be due.

MONTH 2-3

After the approval, the client should pay the one-time donation to the state budget. The client must travel to Latvia within 3 months with his/her dependent family members for in-person biometric collection and obtaining residence cards in the form of ID cards.

Depending on the country of residence, the clients may need visitor visas to enter Latvia and MICS will provide required documents to support this request at the pertinent.

This is when the payment of MICS professional fee balance will be due.

LATVIA