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Latest business news

Latvia: Immigration law amendments
26th May 2014
Latvian parliament adopted amendments to the Immigration Law in Latvia on May 8th, 2014. The amendments will come into force on September 1, 2014. Changes refer to the minimum thresholds of the property that qualifies for temporary residence permit.

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Conditions on investing in real estate - Immigration in Latvia for real estate investors

Conditions on investing in real estate:

  1. the total amount of transaction (involving one or several real estates) must be at least EUR 250 000 Latvia wide;
    • with the official cadastral value at least EUR 80 000;
  2. state fee of 5% from the real estate value must be paid to the government upon receiving the residency permit;
  3. only a bank transfer may be used for purchasing a real estate;
  4. the foreigner does not have and has never had any real estate tax debts in Latvia;
  5. the transaction is concluded after 1 September 2014;
  6. real estate acquired from a legal person registered in the Republic of Latvia or a natural person who is a Latvian citizen, Latvian non-citizen, citizen of the European Union;
  7. a residence permit is issued after registering the ownership in the Land Register.
WEB devoloper - Artis Zelmenis