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Residence Permits, 2015
© Law Office ‘Rasa & Ešenvalds’
www.readvokati.lv
Grounds to Obtain a Residence Permit (RP) in Latvia
1. Owner of a real estate;
2. Investor in the equity capital of a capi...
1.Owner of a real estate
Main preconditions to obtain a residence permit on the basis ‘owner of a real
estate’:
● Purchase...
2. Investor in the Equity Capital of a Capital Company
Main preconditions:
Investment in an already existing capital compa...
Additionally:
● The amount of EUR 12 960 (EUR 1080 x 12 months) is necessary to have in the bank account
as a provision of...
3. Person who is registered in the Commercial Register as a member of the Board or the Council, executive of
a Latvian com...
Additionally:
● It is necessary to have a statement of workplace, confirming the Client has a salary in the amount
of EUR ...
After receiving a positive decision of the OCMA:
➢ It is necessary to obtain a statement issued by a medical treatment ins...
VISA-FREE COUNTRIES
Albany (Only for holders of biometric passports)
United States of America
Andorra
Antigua and Barbuda
...
Law Office ‘Rasa & Ešenvalds’ may assist you:
● in preparation of documents for obtaining Residence Permit also in case yo...
Contacts
Law Office „Rasa  Ešenvalds”
attorney at law  partner Jānis Ešenvalds
attorney at law  partner Armands Rasa
Kr.Va...
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Residence permits in Latvia 2015

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Grounds to Obtain a Residence Permit (RP) in Latvia. Presents Law office Rasa & Ešenvalds.

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Residence permits in Latvia 2015

  1. 1. Residence Permits, 2015 © Law Office ‘Rasa & Ešenvalds’ www.readvokati.lv
  2. 2. Grounds to Obtain a Residence Permit (RP) in Latvia 1. Owner of a real estate; 2. Investor in the equity capital of a capital company; 3. Person registered in the Commercial Register as a member of the Board or the Council, executive of a Latvian company, or is a person authorised to represent a corporate entity (a foreign corporate entity) in activities related to the branch office; 4. Other grounds, e.g., family reunification, employment, financial investment in Latvian credit institution, studies, etc.
  3. 3. 1.Owner of a real estate Main preconditions to obtain a residence permit on the basis ‘owner of a real estate’: ● Purchase of a real estate (by a non-cash payment); ● The value of the real estate must be not lower than EUR 250 000; ● The cadastral value of the property at the time of its acquisition is not lower than EUR 80 000 (if lower, the opinion of a certified real estate appraiser is necessary, to approve that value of the real estate is not lower than EUR 250 000); ● The amount of EUR 12 960 (EUR 1 080 x 12 months) is necessary to have in the bank account as a provision of necessary subsistence during the residence in Latvia; ● After receiving a positive decision on granting a Residence Permit, the Client must make a payment in the value of 5% of the real estate value to the state budget.
  4. 4. 2. Investor in the Equity Capital of a Capital Company Main preconditions: Investment in an already existing capital company or establishing a new capital company The amount of the investment in the equity capital is EUR 35 000, performed in a capital company: ● which employs no more than 50 employees; ● the annual turnover or annual balance of which does not exceed EUR 10 million ● which during the economic year pays not less than EUR 40 000 in taxes into both the State budget and local government budget. OR The amount of the investment in the equity capital is EUR 150 000, performed in a capital company: ● which employs more than 50 employees, ● the annual turnover or annual balance exceeds EUR 10 million. We may also provide help in finding or establishing companies for investing.
  5. 5. Additionally: ● The amount of EUR 12 960 (EUR 1080 x 12 months) is necessary to have in the bank account as a provision of necessary subsistence during the residence in Latvia of the Client, if the Client has not intended to work or have a job in Latvia; ● If the Client has planned to have a job in Latvia it is necessary to have a statement of workplace confirming the Client has a salary at least in the amount of EUR 765 per month; ● The proof of the origin of the money that will be invested in the equity capital of a capital company.
  6. 6. 3. Person who is registered in the Commercial Register as a member of the Board or the Council, executive of a Latvian company or is a person authorised to represent a corporate entity (a foreign corporate entity) in activities related to the branch office There are additional preconditions for such a company or a branch of a foreign merchant: • the company must perform an active commercial activity and actively provide economic benefit to Latvia (in terms of state tax payments); At the end of the year OCMA reviews: ○ whether the company has provided economic benefit to Latvia (in terms of state tax payments whether the company has not gone bankrupt); ○ whether the company has paid all of the taxes. • the amount of share capital in such company (if it is a limited liability company (LLC)) is at least EUR 2800.
  7. 7. Additionally: ● It is necessary to have a statement of workplace, confirming the Client has a salary in the amount of EUR 1 530 every month as a member of the board or executive of the LLC; !!! A residence permit may be obtained only after a year the company has been registered in the Commercial Register. The residence permit can be obtained only if the company has active ongoing business and the activity thereof brings economic benefit to Latvia. If the company has been running less than one year, during this (one) year a foreigner resides in Latvia with a visa (in this case, the foreigner resides in Latvia for 90 days in each 180 day period). We may also provide help in establishing LLC.
  8. 8. After receiving a positive decision of the OCMA: ➢ It is necessary to obtain a statement issued by a medical treatment institution of Latvia regarding the health condition of the foreigner (that the person is not diagnosed with an active form of tuberculosis); ➢ Valid health insurance policy; ➢ The RP can only be received in person (in Latvia). If you are NOT a citizen of one of the countries which are mentioned in the next slide there is an additional precondition: ➢ It is necessary to have a statement regarding the criminal record.
  9. 9. VISA-FREE COUNTRIES Albany (Only for holders of biometric passports) United States of America Andorra Antigua and Barbuda Argentina Australia Bahamas Barbados Bosnia and Herzegovina (Only for holders of biometric passports) Brazil Brunei Chile Hong Kong Croatia Israel Japan New Zealand Canada Korea Costa Rica Macau Malaysia Mauritius Mexico Montenegro (Only for holders of biometric passports) Monaco Nicaragua Macedonia (Only for holders of biometric passports) Guatemala Honduras Panama Paraguay El Salvador San Marino Seychelles Saint Kitts and Nevis Serbia (Only for holders of biometric passports) Singapore Taiwan (Only for holders of passports which include an identity card number) Uruguay The Vatican Venezuela Northern Mariana Islands
  10. 10. Law Office ‘Rasa & Ešenvalds’ may assist you: ● in preparation of documents for obtaining Residence Permit also in case you would like to obtain a Residence Permit on other grounds; ● in forming a Letter of Invitation (Latvian – Izsaukums) for you to come to Latvia; ● in document legalization procedure, because some of the documents may require an apostille; ● in document translation procedure. We may also provide help in establishing LLC, finding and purchasing a real estate or finding a company in which to invest.
  11. 11. Contacts Law Office „Rasa Ešenvalds” attorney at law partner Jānis Ešenvalds attorney at law partner Armands Rasa Kr.Valdemara iela 33-35, Riga, LV-1010 Tel.67280685, fax.67280603 info@readvokati.lv www.readvokati.lv

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