Residence for investment program: purchase of real estate

Residence permitResidence permit program in Latvia based on real estate purchase offers foreigners great opportunities to invest their financial means in Latvian immovable property in order to obtain country’s residency. This type of investment provides profound security together with a high liquidity and profit as the purchased property can be rented at any time, returning 4-7% of the investment annually.
Eligibility
In Latvia a foreigner is eligible to apply for a residence permit, if he or she has reached legal age of 18 years, has no criminal record, does not have any real estate purchase debts, has a legal source of income and can meet all the investment requirements listed below. It is also possible to submit a request for family members – main applicant’s children under the age of 18 and spouse.

Requirements
In order to acquire a temporary residence permit of Latvian Republic on the grounds of purchasing a real estate property several requirements must be met.

Major requirements
The purchase of one real estate must be made with a total price not less than 250 000 EUR, with a cadastral value of the property not less than 80 000 EUR;
Not more than two real estate properties must be purchased, both costing at least 250 000 EUR, with a minimal cadastral value of 40 000 EUR.