Immigration law in Latvia: options to obtain a temporary residence permit
There are several possibilities how one can obtain a temporary residence permit in Latvia. Immigration law in Latvia also determines several criteria that have to be fulfilled in order for the temporary residence permit not to be revoked.
Temporary residence permits in Latvia for real estate owners
Temporary residence permit can be obtained by the owner of the functionally linked and built-up real estate in Latvia for which the value is not less than EUR 250 000. It is possible to obtain temporary residence permit for the term not exceeding five years by the person that owns:
- one functionally linked and built-up real estate in Latvia, the value of which is not less than EUR 250 000;
- not more than two functionally linked and real estate properties outside the districts Riga, Jurmala, Adazi, Babite, Baldone, Carnikava, Garkalne, Ikscile, Kekava, Marupe, Olaine, Ropazi, Salaspils, Saulkrasti, Stopini for which the collective value is at least EUR 250 000.
The payment has to be made by non-cash money transfer. In order for the temporary residence permit not to be revoked one shall submit documents for reinstatement each year while also enclosing proof that the person still owns the same real estate property and that al the real estate tax in Latvia has been paid.
Temporary residence permits for the investors in companies in Latvia
Temporary residence permit also may be acquired by person that invests in equity capital of the company, whether increasing it or founding a new company. For the small and medium companies that do not employ more than 50 employees and the annual turnover does not exceed EUR 10 million, the amount of the investment is EUR 50 000. For large companies that employ more than 50 employees and the annual turnover exceeds EUR 10 million, the amount of the investment is EUR 100 000.
In case of investment there are minimal tax requirements that have to be fulfilled in order for the temporary residence permit not to be revoked. For small and medium companies it is EUR 40 000 or in average EUR 3300 per month, but for large companies EUR 100 000 or in average EUR 8300 per month. Investors have to pay the state fee EUR 10 000 in order to receive the temporary residence permit in Latvia.
Other options to obtain a temporary residence permit in Latvia
Temporary residence permit may also be obtained on the basis of employment. In such a case the permit is valid for the time of employment.
Also such persons as board members of companies in Latvia and permanent representatives may apply for temporary residence permits after period of 1 year if all taxes have been paid. In order for the board member to apply for a residence permit company shall pay EUR 21 350 in taxes in Latvia.
Temporary residence permit may be acquired also on the basis of marriage in order to unite family. In such a case there is a local stay requirement and temporary residence permit may be revoked if it is ascertained that family does not reside in Latvia.
It has to be noted that there are minimal income requirements for each of the basis for application. These minimal income criteria have to be shown on the day of application for temporary residence permit where it can be seen in the bank account statement that one owns the necessary income in order to reside in Latvia for one year.
In addition, it has to be taken into account that legislation determines that a third country national may reside in Schengen zone for 90 days in 180 day period. If this term has been exceeded one will not be able to apply for a residence permit in any of the Schengen countries.
To find out more about Immigration law in Latvia, please contact our English speaking lawyers at email@example.com.