Latvia ~ TRP Options for Foreigners
Time to Permanent Residency: 5 Years ~ Time to Citizenship: 6 Years
The Republic of Latvia is a sovereign member of the European Union, which covers 64,589 km² and has a total population of 2,070,371 inhabitants. Its capital is Riga. Latvia is located in northern Europe, and is one of the Baltic countries.
It shares borders with Estonia to the north, Lithuania to the south, to the east with Russia and Belarus, and to the west with the Baltic Sea. It is a country of low plains covered by extensive forests.
Latvia gained its independence in 1991, after the dissolution of the Soviet Union. Since then, it has become a member of the United Nations (UN), European Union (EU) and NATO since 2004, and became a member of the OECD in 2016. Currently the country is a democratic parliamentary republic divided into 120 municipalities (90 municipalities and 30 cities).
The country adopted the euro as its official currency on January 1, 2014.
Dependents may be included in the application.
The residence permit will have a validity not exceeding 5 years. After that period, you may renew your residence permit if you still fulfill the requirements, or you may apply for a permanent residence permit. Language skills and significant physical residency in the country for 5 years may be required for permanent residency.
If you wish to obtain a residence permit in the Republic of Latvia, there are various options to choose from (as a few briefly mentioned below).
Investment Options
You may opt to choose one of the below options:
– Investment of at least €50,000 / €100,000 made in a business company OR
– Investment of at least €250,000 in real estate properties OR
– Investment of €250,000 in interest-free government bonds OR
– By making a 5-year term bank deposit of €280,000 OR
– In case of an innovative startup, there is no minimum investment required as such.
