Residence permit for investors

Currently, the applicable normative enactments of Latvia provide the following main grounds to obtain a temporary residence permit for investors for 5 years:

1. If the foreigner has invested in the equity capital of the capital company, increasing it, or has invested in the equity capital of the capital company, founding a new capital company, and upon requesting the first temporary residence permit, has paid EUR 10,000 into the State budget and also the investment is at least:

  • EUR 50,000 and it has been invested in a capital company which employs not more than 50 employees and the annual turnover or annual balance thereof does not exceed EUR 10 million. In relation to investment in the equity capital of the capital company a temporary residence permit shall be issued to not more than 10 foreigners, if each of them has made the investment specified in this Clause and has paid EUR 10,000 into the State budget.
  • EUR 100,000 and it has been performed in a capital company, which employs more than 50 employees and the annual turnover or annual balance of which exceeds EUR 10 million,
  • EUR 100,000 and it has been invested in the equity capital of the capital company which together with one or more subsidiary undertakings registered in the Republic of Latvia employ more than 50 employees and the total annual turnover or annual balance of which exceeds EUR 10 million.

2. If a foreigner has acquired in Riga or Jurmala, or Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils, Saulkrasti or Stopini municipality and he or she owns one functionally linked and built-up immovable property (except the case the immovable property is a vacant land) the value of which is not less than EUR 250,000, or outside the abovementioned administrative territories – not more than two immovable properties (except the case the immovable property is a vacant land) and each of them is a functionally linked and built-up immovable property the total value of which is at least EUR 250,000, if the following conditions exist concurrently:

  • he or she does not have payment debts of immovable property tax,
  • the total value of immovable properties was paid for by non-cash settlement,
  • the immovable property has been acquired from a legal person registered in the Republic of Latvia or a European Union Member State, European Economic Area State or the Swiss Confederation which is a taxpayer in the Republic of Latvia within the meaning of the laws and regulations governing the field of taxes of the Republic of Latvia, or from a natural person who is a citizen of Latvia, a non-citizen of Latvia, a citizen of the European Union or a foreigner who is staying in the Republic of Latvia with a valid residence permit issued in the Republic of Latvia,
  • the total cadastral value of immovable property at the time of acquisition thereof was not less than EUR 80,000. If a foreigner has acquired two immovable properties outside Riga or Jurmala, or Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils, Saulkrasti or Stopini municipality, the cadastral value of each immovable property was not less than EUR 40,000 at the time of acquisition thereof. If the cadastral value is less than that specified in this Sub-clause, the value of immovable property may not be less than EUR 250,000 according to the market value of immovable property determined by a certified assessor of immovable property, or if a foreigner has acquired two immovable properties – the market value of each immovable property may not be less than EUR 125,000,
  • upon requesting the first temporary residence permit, he or she pays five per cent of the value of immovable property into the State budget,
  • the composition of the immovable property does not include land for agricultural use or forest land.

3. If a foreigner is registered in the Commercial Register of Latvia as a member of the board or member of the council, procurator, administrator or liquidator of the company, who have the right to represent the company or as a person, who is authorized to represent a merchant (a foreign merchant) in activities related to the branch, if commercial activities of the company or branch of a foreign merchant is entered in the commercial register at least 1 year prior to requesting of a temporary residence permit, and the enterprise operates an active economic activity, which results as economic benefit of Latvia.

4. If a foreigner is a representative of a foreign merchant representation.

5. If a foreigner has subordinated liabilities to credit institutions of Latvia in the amount not less than EUR 280,000, the term of the transaction concluded with the credit institution is not less than 5 years, and he has paid to the state budget a contribution in the amount of EUR 25,000.

6. If a foreigner has purchased for the special purpose public-interest securities of nominal value of EUR 250,000 and paid into the state budget a contribution in the amount of EUR 38,000.

Applicable normative enactments of Latvia also provides other grounds to obtain a temporary residence permit, which a foreigner can take advantage of in the case of matching his and his activity with the requirements of the law.

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