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Residence permit of Latvia for business investors
2 March 2016
If the foreigner is planning to start the business in Latvia there are following possibilities how to receive a temporary residence permit:
- by investment at least 35 000 EUR in the share capital of the company, which employs no more than 50 employees, the annual turnover or annual balance of which does not exceed EUR 10 million or
- by investment at least 50 000 EUR in the share capital of the company , which employs more than 50 employees and the annual turnover or annual balance of which exceeds EUR 10 million.
In this case the person must have income 1110 EUR per month and place of residence in Latvia. The residence permit will be issued per 5 years and shall be registered annually in the Immigration department.
Upon submitting documents for registration of the temporary residence permit, the foreigner shall prove that the company has paid not less than EUR 40 000 into the State budget and local government budget in total during the last economic year.
According to the Transitional Provisions of the Immigration Law this rule is applicable also to the holders of the temporary residence permit who have received a residence permit until 31 December 2013.
Should you wish our assistance in residence permits of Latvia please contact our English speaking attorneys at law at info@gencs.eu.
T: +371 67240090
F: +371 67240091