Latvia
Residency by Investment Program
About Latvia
The Republic of Latvia has first been proclaimed in 1918 and is located in North East Europe right at the Baltic Sea. Through the world wars Latvia has been occupied by different Nations but was independent until 1945 and gained back independence in November 1991. Together with Estonia and Lithuania it is part of the Baltic three and known for it’s Scandinavian lifestyle. In the recent years the Baltic three have claimed their position in the eastern EU as Hotspot for Fintech’s and strive to become Europe’s Financial Center of the North.
Discover it’s beautiful Capital City Riga, a calm nordic beauty inviting you to enjoy a very diversified choice of excellent international restaurants or just to blend into the Latvian City life, to experience the modern and historic side of a City you will love to be part of. Leaving Riga, after only a short ride, Latvia will unfold it’s true beauty to you.
Countless forrests and fields, sandy beaches at the Baltic Sea, Europe’s widest waterfall and plenty of castles are only a few reasons why Latvia is such a beautiful country. Latvia is a full member of the UNO, EU, NATO, Schengen and part of the Euro-zone.
Latvian Residency Investors do not have a minimum stay requirement and are therefore not subject to taxation on their global income if they do not reside permanently in the country. Companies in Latvia enjoy a 0% capital gain tax if profits stay in the firm or are reinvested. With this favourable tax regime Latvia wants to create an attractive environment for international companies who want a base in the EU. The official currency is the Euro.
The main language is Latvian, however, English is widely spoken and understood due to the high amount of international visitors, students, and residents.
Option for Residency-by-Investment
The Residency by Investment program started in 2010. The lawyers of EC Holdings were participating in drafting the Law change for the Residency program and are experienced specialists dealing with it for already over a decade.
Donation
EUR 50’000
Investment into a Latvian registered Company including main applicant, spouse and all children.
Real estate
EUR 250’000
full ownership of Real Estate Including main applicant, spouse and all children.
Both investment options come with a EUR 10’000 payment into Government budget and EUR 40’000 fees which include due diligence on all applicants, preparation of applications, legal services, assistance with documents and all procedures with the Office of Citizenship. Annual renewal fee of the Residency Card is EUR 2’500 and includes all legal services and procedures.
Program Features
Processing time approximately 1 – 3 months. For Citizens of selected Countries there is a Fast Track reviewal option starting from 5 days
Residency is granted for main applicant, spouse and all children below 18 years of age
Spouses and dependant children can be added after approval
Benefits
Free travel in the entire Schengen Area
with PR easier settlement procedures in other EU countries
No physical presence required
Excellent flight connections through all large European Airports
Key facts
Capital City
Riga
Currency
Euro (EUR)
Time Zone
UTC -2
UTC -3 / Summer (DST)
Languages
Latvian
Population
1,907,675
Area
64,589 km2
Contact
Baiba Krievina – Sutora, LLM, EMBA
Partner
Originating from Riga, Baiba Krievina – Sutora is the EC Holdings Partner in Latvia and has first hand experience with the respective Residency by Investment program since it’s been established back in 2010. Baiba has been participating in drafting proposals for the law change of the Residency program as well as consulting international clients in Residency and Investment matters for over a decade. Holding two Master of Law degrees in international and European law as well as an Executive MBA, Baiba is a very qualified Immigration Specialist and Corporate Lawyer. With over 12 years of expertise with the Residency by Investment program in Latvia, establishing herself as a leading expert. In her free time Baiba loves to spend time with her family, travel and try out local cuisine of different countries and learn different cultures. Baiba speaks Latvian, English and Russian.
