Baltconsult provides support in obtaining a residence permit in Latvia which allows a foreigner to stay in the territory of the European Union. Temporary residence permits issued for five years anticipates stay in the territory of Latvia, without restriction of its minimum or maximum duration, as well as stay in the Schengen Agreement countries during a period not exceeding 90 days a year. 

Baltconsult renders consultations for obtaining residence permits in Latvia which allows free and visa-free travel in the territory of all countries of the Schengen zone.

Valid migration legislation of Latvia anticipates annual confirmation of the temporary residence permit for the purpose of monitoring observation by the foreign resident of the investment terms and conditions pursuant to which this residence permit was granted.

Placement of a subordinated deposit in a Latvian bank:

• Minimum amount of the deposit – EUR 280 000 
• Deposit period – 5 years
• Additionally, a stamp duty in the amount of EUR 25 000 must be paid to the state budget
• Interests are paid, as a rule, every half year 
• Latvian bank provides the investor with a notice on placement of the deposit which forms the basis for obtaining temporary residence permits for the investor and his family members 

Acquisition of real estate in Latvia:

• If the real estate is purchased nearby Riga and its value is not less than 250 000 EUR (and the cadastral value as of the purchase date is not less than 80 000 EUR); or if the real estate is purchased outside suburbs of Riga (not more than 2 objects) on condition that each of them costs not less than EUR 125 000 and the cadastral value as of the purchase date is not less than 40 000 EUR.
• State duty is 5% of real estate value.
• When requesting a repeated residence permit it is necessary to pay a state duty – EUR 5000. Members of the family of the investor do not have the necessity to pay this fee.

Starting business in Latvia:

• Having invested EUR 50 000 in a company, which employs up to 50 individuals, which annual turnover or balance amount does not exceed EUR 10 000 000 and which pays taxes during a year in the amount of minimum EUR 40 000 (average not less than EUR 3300/month);
• Having invested EUR 100 000 in starting a new company, which employs minimum 50 individuals and which annual turnover is minimum EUR 10 000 000 and which pays taxes during a year in the amount of minimum EUR 100 000 (average  not less than EUR 8300/month);
• Having invested EUR 100 000 in a new company, which together with one or several subsidiaries employ minimum 50 individuals and which annual turnover is minimum EUR 10 000 000;
• A residence permit is issued up to 10 individuals upon condition that each of them has invested into the company and paid the state fee of EUR 10000 (previously this type of residence permit was issued up to 3 foreign investors);
• When requesting a repeated residence permit it is necessary to pay a state duty – EUR 5000. Members of the family of the investor do not have the necessity to pay this fee.     

Purchase of government securities of Latvia:

• Having purchased interest-free public securities with a nominal value of EUR 250 000.
• Additionally, a state duty in the amount of EUR 38 000 must be paid to the state budget.
• Period of repayment – 5 years.
• When requesting a repeated residence permit it is necessary to pay a state duty – EUR 5000. Members of the family of the investor do not have the necessity to pay this fee.    

One of the most attractive and economically beneficial ways for obtaining residence permit in Latvia is opening a representative office of a foreign company. Baltconsult provides support in registration of a representative office and obtaining residence permit.

The representative office may be opened for a company registered and operating in any country. Regardless of the fact that such representative office is not a legal entity and may not be engaged in commercial activities, it can represent interests of your organisation in the territory of the Republic of Latvia and the entire EU. You can advertise activities of your organisation, conduct business negotiations and conclude agreements in favour of the holding company.

When registering a representative office, a residence permit is issued for four years and requires annual extension. To grant a residence permit in Latvia, primarily the economic benefit for the state is considered. When registering a representative office of a foreign company, there are no specific tax obligations or strict requirements related to the operations area or the amount of investments in the work of the representative office. This makes the given way of obtaining residence permit maximally convenient, simple and efficient.