Latvia has passed a law on obtaining a residence permit by purchasing real estate in this country. But in order to buy real estate, you need to apply for a regular entry visa. This is one of the ways to obtain a residence permit in the Republic of Latvia.
Instructions
Step 1
According to the Latvian Law "On Immigration", which entered into force on July 1, 2010, investing in the Lithuanian economy will allow a foreigner to obtain a residence permit for up to 5 years. If you are a citizen of a foreign country, you can obtain a residence permit if you:
1. have invested the authorized capital of the JSC at least 25 thousand lats and during the financial year this JSC has paid the same amount in the form of taxes to the state and municipal budgets;
2. you own real estate in this country, the value of which is not less than 100 thousand lats and located in Riga, the Riga planning region and cities of republican significance, as well as in other cities of the country worth at least 50 thousand lats;
3. if you have applied for a deposit (subordinated loan or SSS) in the amount of at least 200 thousand lats for a period of 5 years or more.
Step 2
In order to obtain a residence permit in Latvia, provide an international passport, a passport of a citizen of the Russian Federation; an applicant's questionnaire of the established form; 2 photos of 3x4 size; documents confirming financial independence; documents confirming the place of residence in the Republic of Latvia, for example, sales and purchase agreements, lease agreements, etc.
Step 3
Provide a certificate of no criminal record, which is issued and certified by an authorized body of the country of which you are a citizen.
Step 4
Prepare a document on the result of fluorographic and X-ray examination, issued by the chief physician of a state medical institution; and other documents that will justify the purpose of your stay in the Republic of Latvia.
Step 5
All collected documents are submitted to the diplomatic or consular office of Latvia in your country or to the Riga Office of Citizenship and Migration Affairs. And if you received a residence permit on the basis of real estate ownership, then be sure to confirm the status of the owner once a year by presenting the necessary documents.
After 5 years of residence in the Republic of Latvia, you can apply for permanent residence.
