Residence Permit in Latvia
Residence Permit in Latvia - Simple and Clear
A Residence Permit in Latvia is a document in the form of an ID card that allows you to stay in Latvia for more than 90 days in a half-year period and also gives you the right to freely move within the Schengen area. Normally, after the end of the period, the issued temporary residence permit can be prolonged if the reason for staying in Latvia has not changed. After 5 years of staying in Latvia with a temporary residence permit, the foreigner has the right to apply for a permanent residence permit. In 5 more years, the individual can apply for obtaining Latvian citizenship. Should you need our advice on obtaining a residence permit in Latvia, please get in touch with us.
ADVANTAGES OF A RESIDENCE PERMIT IN LATVIA
Free Movement within the European Union - the Latvian residence permit allows you to travel through the territory of the EU member states and the Schengen area.
EU passport - after living in Latvia for 10 years, you have the right to apply for Latvian citizenship.
Immigration with family - together with the main applicant, the right to move to Latvia extends to close family members (spouse, children).
Employment - a residence permit offers the possibility to work in Latvia.
New business opportunities - a residence permit allows you to engage in entrepreneurial activities with access to the EU market.
Social security - with a residence permit, it is possible to receive preferential medical care and other benefits provided by Latvia.
WAYS OF OBTAINING A RESIDENCE PERMIT IN LATVIA
The most popular ways to obtain a residence permit in Latvia are obtaining a Residence Permit through business and investment. Obtaining a Residence Permit through business is less expensive but more complex. Registration of a residence permit in Latvia through employment in your own Latvian company is, in our opinion, the best way to acquire a residence permit in Latvia for business reasons.
However, a request for a Residence Permit through investment is more costly at the initial stage but simple in terms of the procedure for obtaining and extending it. Obtaining a Residence Permit in Latvia through investment in real estate is, in our opinion, the most affordable and safest option for getting a residence permit in Latvia through investment.
Each method has its advantages and characteristics. Therefore, first, consult with our specialists.
WHAT RIGHTS DOES A RESIDENCE PERMIT IN LATVIA PROVIDE?
Right to:
Free exit from the country and arrival to the country without any temporary restrictions on stay in the territory of Latvia. However, if you are planning to obtain permanent resident status (permanent residence) in the future, then your absence from the country cannot exceed 6 consecutive months or no more than 1 year in total for the entire 5-year period.
Work and study in Latvia, i.е. the right to formally find employment and study in educational institutions.
The use of state and medical services, as well as all social guarantees provided to the citizens of Latvia, such as unemployment benefits, childbirth benefits, and others.
Visa-free visits to countries included in the Schengen agreement for up to 90 days every 6 months (except for the UK), i.е. the right to freely move around the Schengen countries and stay on their territory for up to 180 days a year (including Norway, Iceland, and Switzerland).
Acquisition and registration of one or more cars in Latvia for free movement within and outside the country. However, you cannot transfer control of this vehicle by proxy outside the European Union.
Obtaining a Latvian driving license valid in the EU and other countries.
Extension after 5 years of your temporary residence permit for another 5 years, or the right to obtain a permanent residence permit in Latvia. A permanent residence permit will provide an opportunity to obtain citizenship, as well as social and economic benefits in other countries of the European Union. In 10 years, you can obtain Latvian citizenship by going through the naturalization procedure. This will allow you and your children to become full-fledged citizens of the European Union, enjoy all the social benefits of Latvia and the EU, travel freely, work, do business, and much more.
Simplified issuance of visas to other countries such as England, Ireland, Canada, USA.
Self-issuance of an invitation to obtain a visa for relatives and other persons.
WHO ELSE IS ELIGIBLE TO APPLY FOR A RESIDENCE PERMIT, EXCEPT FOR THE APPLICANT?
An application for a residence permit in Latvia, in addition to the applicant, can also be submitted by the following persons:
Legal spouse;
minor children under 18;
persons under guardianship.
In addition to the services of obtaining a Residence Permit in Latvia, you can also benefit from our advice on Personal and corporate taxation, Services for registering a company in Latvia, and Accounting.
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