Part of the Eurozone. The Latvia residence by investment program was first introduced in 2010. Business Investment . 93% of the program’s total FDI stems from before 2016. Holding a Residence Permit in Latvia entitles the investor to the following benefits: Permission to reside in the country for a period longer than 90 days. For just €50,000, your entire family could come and live and travel in Europe. Latvia has a 9% corporate tax rate and a government that’s very receptive to foreign investment and new business initiatives. New Zealand August 4, 2020 Christian Henrik Nesheim Comments Off on The Protracted Demise of Latvia’s Golden Visa Once first among its European equals, Latvia’s golden visa has languished since 2014. It remains to be seen how Latvia’s Golden Visa fares in the future, and if it will still be able to interest foreign investors with its real estate and pro-business climate. Its Developed country with a population of 2M people. All in all, Latvia’s Golden Visa is ideal for those looking to: So, let’s see exactly how you can take advantage of those investment opportunities and obtain residency in this small, yet advantageous, country. Travel all over Schengen. The single currency zone is advantageous for many different reasons, but primarily because it saves you money and time. Thu Dec 24 2020 15:05:51 GMT+0000 (UTC) Thu Dec 24 2020 15:05:51 GMT+0000 (UTC) Learn all you need to know about the Canadian Start-up Visa Program and the provincial-specific Entrepreneur and Investor Visa Nominee Program. Some say it’s in Eastern Europe and others say it’s in Northern Europe, but one thing is clear – it can be your gateway to the European Union. So, you won’t have the same rights as the citizens of the country. Visa … Latvia taxes all income made within its borders. Family members also qualify for residence permits in Latvia. We Make Immigration Simple. Annual Report & Meeting Tell me more about the Annual Report and Meeting. . We'll assume you're ok with this, but you can opt-out if you wish. Permanent residence permits; Cheapest European real estate investment program; Latvian Citizenship after 10 years of living (must have PR status) No residence requirements. Benefits of Latvia Golden visa. WE DO NOT PROVIDE VISA OF LATVIA.ITS JUST INFORMATIVE VIDEO INFORMATION MAY CHANGED BY LATVIA IMMIGRATION COUNTRY TO COUNTRY VERY. Latvia is a very popular program among Russian nationals. In fact, it was one of the worst-hit countries in the world. Germany doesn’t have a formal Golden Visa programme, but foreign investors can obtain residency by making a government approved investment. Then there is no cheaper option than investing in Latvian business formation. Since the program was introduced, around 7,000 people, 75% of whom are Russian citizens, received investor visas and residency in Latvia. The country welcomes all investment dollars, regardless of whether you want to live in the place. Monetary policy review 2020 A discussion "My opinion for the future economy" will be held on 5 November with active participation of Latvia's civil society. If you see yourself living in the country for a while, then you’ll need a Latvian language certificate at level A2 to be considered for permanent residency. While we value comments that add to the conversation, we reserve the right to edit or delete anything that is abusive, threatening, libelous, spammy, or is otherwise inappropriate. Minimum Investment. You must be a tax resident in Latvia for all of those ten years, and five of those years must be as a permanent resident. This is on par with other Golden Visa programs. Latvian residency gives you access to the entire Schengen area visa-free. There are no interviews, no need to speak Latvian, and certainly no need to travel to Latvia to obtain your residence permit. But believe it or not, Latvia actually has one of the oldest and longest-running residence by investment programs in Europe. FREEDOM OF MOVEMENT: Brazilian residency allows for visa free travel to several neighbouring countries, while the Brazilian passport enables bearers to travel to over 110 countries around the world visa free, including countries such as Austria, Bulgaria, Cyprus, Croatia, Denmark, Estonia, Ireland, Latvia, Luxembourg, Poland, Panama, Portugal and Romania, to name but a few. (Id.) Why? For a country of this size, that’s still a considerable sum of money. You can either open your own company or become a shareholder in an existing Latvian company. Finally, it’s great for those with a large family because all of the dependents can be added under one application for the same price. If you think that having a Latvian residence will open up doors to the British Isles and Ireland, you’d be wrong. If you do the calculation, then your total investment for the five years is still a minimum of €250,000 (€50,000 initially, plus five years of paying at least €40,000 in tax). Deposit  €280,000 in a Latvian bank and hold it for 5 years. If you wish to invest in a company larger than that, you will need to double the investment to €100,000. With a processing timeline of two to three months for a residency application, Latvia offers one of the fastest routes into Europe’s Schengen area right now. An outstanding passport. After that the investment limit rises to €500,000. Once first among its European equals, Latvia’s golden visa has languished since 2014. Investment Migration Company Directory You will be able to live like a king in Latvia, a country that’s safe, affordable, and European. You just have to care enough to take a closer look. Amid the Coronavirus outbreak, in mid-March 2020, Latvia imposed an entry ban on third-country nationals on the recommendation of the EU Commission. Tourist visa has a maxiumum stay of 90 days. Whether you go for real estate, the business investment, or one of the other options, you will most likely come out on top. Let us first explain the fundamentals of what residence by investment is and what it isn’t. The Latvia Immigrant Investor Program offers 4 investment options including a real estate investment option. It used to charge no government fees, but since the popularity of the program absolutely skyrocketed, the government ‘wised up’ and added extra fees. . Required fields are marked *. No additional investment will need to be made as you go to renew your residence, but your original investment must be kept for the entire period of five years. Here are four alternative Golden Visa programs that you can choose if you feel that Latvia just isn’t doing it for you. 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