Grounds to Obtain a Residence Permit (RP) in Latvia. Presents Law office Rasa & Ešenvalds.

1. Residence Permits, 2015
© Law Office ‘Rasa & Ešenvalds’
www.readvokati.lv

2. Grounds to Obtain a Residence Permit (RP) in Latvia
1. Owner of a real estate;
2. Investor in the equity capital of a capital company;
3. Person registered in the Commercial Register as a member of the Board
or the Council, executive of a Latvian company, or is a person authorised
to represent a corporate entity (a foreign corporate entity) in activities
related to the branch office;
4. Other grounds, e.g., family reunification, employment, financial investment
in Latvian credit institution, studies, etc.

3. 1.Owner of a real estate
Main preconditions to obtain a residence permit on the basis ‘owner of a real
estate’:
● Purchase of a real estate (by a non-cash payment);
● The value of the real estate must be not lower than EUR 250 000;
● The cadastral value of the property at the time of its acquisition is not lower than EUR 80 000 (if
lower, the opinion of a certified real estate appraiser is necessary, to approve that value of the
real estate is not lower than EUR 250 000);
● The amount of EUR 12 960 (EUR 1 080 x 12 months) is necessary to have in the bank account
as a provision of necessary subsistence during the residence in Latvia;
● After receiving a positive decision on granting a Residence Permit, the Client must make a
payment in the value of 5% of the real estate value to the state budget.

4. 2. Investor in the Equity Capital of a Capital Company
Main preconditions:
Investment in an already existing capital company or establishing a new capital company
The amount of the investment in the equity capital is EUR 35 000, performed in a capital company:
● which employs no more than 50 employees;
● the annual turnover or annual balance of which does not exceed EUR 10 million
● which during the economic year pays not less than EUR 40 000 in taxes into both the State budget and local
government budget.
OR
The amount of the investment in the equity capital is EUR 150 000, performed in a capital
company:
● which employs more than 50 employees,
● the annual turnover or annual balance exceeds EUR 10 million.
We may also provide help in finding or establishing companies for investing.

5. Additionally:
● The amount of EUR 12 960 (EUR 1080 x 12 months) is necessary to have in the bank account
as a provision of necessary subsistence during the residence in Latvia of the Client, if the Client
has not intended to work or have a job in Latvia;
● If the Client has planned to have a job in Latvia it is necessary to have a statement of workplace
confirming the Client has a salary at least in the amount of EUR 765 per month;
● The proof of the origin of the money that will be invested in the equity capital of a capital
company.

6. 3. Person who is registered in the Commercial Register as a member of the Board or the Council, executive of
a Latvian company or is a person authorised to represent a corporate entity (a foreign corporate entity) in
activities related to the branch office
There are additional preconditions for such a company or a branch of a foreign merchant:
• the company must perform an active commercial activity and actively provide economic benefit
to Latvia (in terms of state tax payments);
At the end of the year OCMA reviews:
○ whether the company has provided economic benefit to Latvia (in terms of state tax
payments whether the company has not gone bankrupt);
○ whether the company has paid all of the taxes.
• the amount of share capital in such company (if it is a limited liability company (LLC)) is at least
EUR 2800.

7. Additionally:
● It is necessary to have a statement of workplace, confirming the Client has a salary in the amount
of EUR 1 530 every month as a member of the board or executive of the LLC;
!!! A residence permit may be obtained only after a year the company has been registered in the
Commercial Register. The residence permit can be obtained only if the company has active ongoing
business and the activity thereof brings economic benefit to Latvia.
If the company has been running less than one year, during this (one) year a foreigner resides in Latvia
with a visa (in this case, the foreigner resides in Latvia for 90 days in each 180 day period).
We may also provide help in establishing LLC.

8. After receiving a positive decision of the OCMA:
➢ It is necessary to obtain a statement issued by a medical treatment institution of Latvia regarding
the health condition of the foreigner (that the person is not diagnosed with an active form of
tuberculosis);
➢ Valid health insurance policy;
➢ The RP can only be received in person (in Latvia).
If you are NOT a citizen of one of the countries which are mentioned in the next slide there is an
additional precondition:
➢ It is necessary to have a statement regarding the criminal record.

9. VISA-FREE COUNTRIES
Albany (Only for holders of biometric passports)
United States of America
Andorra
Antigua and Barbuda
Argentina
Australia
Bahamas
Barbados
Bosnia and Herzegovina (Only for holders of biometric passports)
Brazil
Brunei
Chile
Hong Kong
Croatia
Israel
Japan
New Zealand
Canada
Korea
Costa Rica
Macau
Malaysia
Mauritius
Mexico
Montenegro (Only for holders of biometric passports)
Monaco
Nicaragua
Macedonia (Only for holders of biometric passports)
Guatemala
Honduras
Panama
Paraguay
El Salvador
San Marino
Seychelles
Saint Kitts and Nevis
Serbia (Only for holders of biometric passports)
Singapore
Taiwan (Only for holders of passports which include an identity card number)
Uruguay
The Vatican
Venezuela
Northern Mariana Islands

10. Law Office ‘Rasa & Ešenvalds’ may assist you:
● in preparation of documents for obtaining Residence Permit also in case you would like
to obtain a Residence Permit on other grounds;
● in forming a Letter of Invitation (Latvian – Izsaukums) for you to come to Latvia;
● in document legalization procedure, because some of the documents may require an
apostille;
● in document translation procedure.
We may also provide help in establishing LLC, finding and purchasing a real estate
or finding a company in which to invest.

11. Contacts
Law Office „Rasa Ešenvalds”
attorney at law partner Jānis Ešenvalds
attorney at law partner Armands Rasa
Kr.Valdemara iela 33-35, Riga, LV-1010
Tel.67280685, fax.67280603
info@readvokati.lv
www.readvokati.lv