Real estate in Latvia: citizenship through investment

The Republic of Latvia (LR) is a state of the European Union in which citizens from the countries of the former USSR strive to live and work. The right to freely move around the Republic of Latvia, enter and leave the country, work, study, and use medical services is granted by a residence permit. However, many Russians, Belarusians, and Ukrainians want to acquire Latvian citizenship, which gives them the chance to become a full EU citizen.

Is it worth getting a Latvian passport?

New opportunities open up for citizens who have received Latvian citizenship. With a Latvian passport you can:

• move freely throughout the territory of EU countries;
• study at any higher education institution in Europe without applying for a student visa;
• take part in elections, elect and be elected to government bodies;
• obtain citizenship of any EU country in a simplified manner;
• apply for state benefits when opening your own business in the Republic of Latvia;
• get priority work in another country of the European Union;
• apply for visa-free entry into the United States.

Speaking about what Latvian citizenship gives, it should be noted that citizens of the Republic of Latvia have not only rights, but also responsibilities. A Latvian is obliged to comply with the laws of the Republic of Latvia, know the history of the country, speak the state language, respect the traditions of the Latvian people, and pay taxes established by law.

It is important to remember that the condition for obtaining Latvian citizenship is the renunciation of previous citizenship.

Obtaining a residence permit

A residence permit is the direct basis for applying for citizenship. One of the fastest ways is to purchase real estate. If a person has the opportunity to buy real estate on the territory of this republic, he will receive a temporary residence permit.

However, the property must be purchased for at least 250,000 euros. In this case, the purpose of the acquisition does not matter.

But to obtain citizenship, it is not enough to simply buy real estate; you must also reside in Latvia.

After submitting documents to the Department of Migration Policy and passing all the necessary tests, the person is assigned the status of a citizen and is issued a Latvian passport. The document provides the opportunity to freely cross the borders of countries included in the Schengen list.

Only citizens of the European Union can obtain citizenship after five years. The population of third countries can expect to be granted this status only after 10 years.

Who is granted the status of citizen of the Republic of Latvia

A Latvian citizen's passport can be obtained by persons who:

• have grounds to acquire citizenship by right of blood;
• were born on the territory of the Republic of Latvia;
• voluntarily wish to naturalize;
• have special services to the state (in this case, the decision to grant citizenship is made by the Seimas of Latvia).

In accordance with the law, foreigners with Latvian roots can move to Latvia for permanent residence and obtain citizenship. Together with the repatriate, family members have the right to come to the country: spouse, dependent parents, minor children.

Citizenship of the Republic of Latvia is obtained by children whose parents are citizens of the Republic of Latvia. If the mother or father is a foreigner, then the child’s citizenship is determined by the parents.

Also, by birth, the status of a Latvian citizen is given to a child found on the territory of the country, without parents, living in an orphanage or boarding school.

According to the general naturalization procedure, Latvian citizenship can be acquired by persons who are registered in the Register of Residents of Latvia and:

• have reached the age of 15;
• have lived permanently in the country for at least five years, starting on May 4, 1990. The period of residence for citizens who arrived in Latvia after July 1, 1992 is calculated from the moment they receive a residence permit;
• renounced their previous citizenship (along with the application for admission to Latvian citizenship for Russians in 2021, a notice of renunciation of Russian citizenship must be provided).
• speak the state language (Latvian);
• know the history of the country, the text of the national anthem, have studied the main provisions of the Constitution of the Republic of Latvia (Satversme);
• have a legal source of livelihood;
• made a promise to be faithful to Latvia.

According to Article 13 of the Law of the Republic of Latvia “On Citizenship” of July 22, 1994, certain categories of citizens can obtain citizenship in a simplified manner.

For example, extraordinary naturalization is available to persons who are married to a citizen of Latvia and have been permanently residing in the country for at least five years. The main condition: the applicant for citizenship must be officially married for at least 10 years at the time of filing the application.

Obtaining citizenship by recognition

Latvian citizenship can be obtained by children whose parents are Latvians. To obtain citizenship status, even one of the parents with Latvian citizenship is quite enough. Descendants of this country also have the right to claim the status of citizen of this republic. But, in this case, the obligatory condition is the possession of this status before a certain date.

Detailed map of administrative divisions of Latvia

The Latvian Citizenship Law allows the descendants of those people who had citizenship only before June 1940 to apply for this status. Not only direct descendants, but also their children, if they have not reached the age of fifteen, can apply for Latvian citizenship.

To obtain status, such persons must contact the department specializing in citizenship and migration policy. Also, if a person is outside Latvia, you can contact the diplomatic mission of the republic with a similar request.

All documents confirming origin in Latvia must be submitted to the authorized bodies. It is also necessary to provide identification documents of the person and his children. If he is married, a certificate of marriage will also be required.

Sample form for marriage registration

Obtaining citizenship in Latvia in this way is one of the easiest and most accessible.

Naturalization procedure

The process of acquiring citizenship of the Republic of Latvia through naturalization can be divided into several stages:

1. Testing Latvian language skills, knowledge of the basics of the Constitution of the Republic of Latvia, the text of the anthem, history and traditions of the country.
2. Preparation of documents, submission of an application and registration in the territorial division of the Office of Citizenship and Migration Affairs (OCMA).
3. Submitting a notification of renunciation of previous citizenship (non-citizens and stateless persons in Latvia are required to provide confirmation that they do not have citizenship of any state).
4. Checking the applicant's compliance with legal requirements: a request is made to the relevant government agencies, such as the State Security Service, State Police, Bureau for the Protection of the Constitution, Military Intelligence and Security Service.
5. Signing a pledge of allegiance to the Republic of Latvia - after it has been established that there are no obstacles and the applicant can obtain Latvian citizenship.
6. Obtaining citizenship. A decree of the Cabinet of Ministers of the Republic of Latvia is issued, and a letter is sent to the applicant with information about the assignment of status.

Once Latvian citizenship is obtained, the previous passport becomes invalid. A Latvian citizen's passport can be obtained from any territorial department of the OCMA, regardless of place of residence.

You can find out detailed information about what documents need to be provided, for how long the identity card is issued, and also see a sample of a Latvian passport on the official website.

What document gives the right to temporary stay in the country?

A temporary residence permit gives a foreign citizen the right to stay in the country for a certain time. The need to obtain a document in the form of an electronic ID card arises if a person plans to stay in the country for more than 90 days within six months. The decision to issue a residence permit is made by the Office of Citizenship and Migration Affairs in Latvia.

A residence permit in Latvia is issued for a period of up to five years. After this time, the foreigner can apply for a new temporary residence permit, or apply for a permanent residence permit or the status of a permanent resident of the European Union.

Relatives of Latvian citizens, students, self-employed persons, and representatives of foreign companies can obtain a temporary residence permit. They also provide residence permits for investment and for the duration of treatment.

Permanent residence permit

A permanent residence permit gives a foreigner the right to long-term residence in the country and obtain Latvian citizenship. According to Article 24, the following categories of persons have the right to apply for permanent residence status in Latvia:

• relatives of a person who has a passport of a citizen of the Republic of Latvia or permanent residence in Latvia (minor children, spouse, parents);
• foreign citizens who had a Latvian passport before June 17, 1940;
• persons who have lived in Latvia for 5 years on the basis of a temporary residence permit (except for foreigners who have received permission for a temporary residence permit for the period of study, and persons recognized as victims of human trafficking);
• foreigners who, before acquiring citizenship of another country, were citizens of Latvia;
• refugees;
• persons whose direct relatives are Latvians or Livs;
• family members of the repatriate.

A residence permit is also provided, and then citizenship in Latvia when purchasing real estate for an amount of at least 250 thousand euros plus 5% of the transaction amount (property tax).

To renew a residence permit (every 5 years), investors must pay 5 thousand euros.

Persons who speak the state language can obtain a permanent residence permit. It is necessary to provide a certificate of knowledge of the Latvian language (at least level A2). To test your language proficiency, you will have to pay a state fee, the amount of which is established by the Cabinet of Ministers of the Republic of Latvia.

The process of obtaining Latvian citizenship in 2021

Latvian passport
After submitting documents, a potential migrant must pass an exam on knowledge of the Latvian language, history and culture of the country. You also need to sign an oath to the Republic of Latvia (take an oath). After signing the decree of the Cabinet of Ministers of Latvia on citizenship, the new resident is sent a written notification.

From the moment Lithuanian citizenship is assigned, the previous passport becomes invalid. You cannot cross the borders of Latvia with it.

Requirements for an applicant for citizenship

The main requirements are residence in the country for the period prescribed by law, availability of legal income and knowledge of the language.

According to the Citizenship Law, a potential migrant must not be:

1. Noticed in statements against independence and the structure of the Republic of Latvia;
2. Associated with terrorist organizations, with laundering of criminally obtained funds;
3. Convicted of criminal acts in Latvia or abroad;
4. Full-time employees of the GKB or intelligence services in the former USSR.

Obtaining residence permit and permanent residence

Riga, Latvia
A long-term residence permit (more than 90 days per six months) in the Republic of Latvia (residence permit) is issued for family reunification, education, commercial or work activities. The residence permit is issued by the Office of Citizenship and Migration Affairs. A residence permit is issued for 5 years, but requires annual registration - confirmation of compliance with the grounds for its issuance.

After 5 years of permanent residence in Lithuania with a residence permit, you can change it to permanent residence.

Collection and submission of documents

First of all, a potential new resident must justify the legality of applying for citizenship. This may be proof of residence in the country for 5 years (certificate from an employer or educational institution, certificate of social insurance deduction, etc.), birth certificate of an ancestor and confirmation of pedigree.

Along with the application for citizenship you must provide:

• identification document (foreign passport, refugee, “non-citizen” ID, etc.);
• confirmation of legal income (salary certificate or bank statement);
• fresh photo.

Documents must have a translation into Latvian (except for documents in English, German, French and Russian) and be legalized.

Citizenship Exam

No later than 2 months after submitting documents, you must pass a test on your knowledge of the language, as well as history, culture, and government of Latvia. The rules for its conduct are regulated by the Resolution of the Cabinet of Ministers.

Exams are held in the offices of the Office of Citizenship and Migration Affairs (OCMA):

• Riga, Daugavpils street 31;
• Liepāja, Veca ostmala 24;
• Daugavpils, street 18 Novembra 105;
• If necessary, visiting commissions can also organize examinations in Jekabpils, Valmiera, Ventspils.

The exam includes a listening test, a written assignment, an interview, and a situational conversation. This is followed by a test of knowledge of the anthem of the republic, its history and the main provisions of the constitution.

Persons over 65 years of age, disabled people of groups 1-2 (mental illness, deaf) and those who have received basic secondary or higher education in the Latvian language are exempt from the exam.

How and where to prepare for it?

A trial test of knowledge of the language, history and culture of Latvia can be taken at information days, which are regularly held by the Office of Citizenship and Migration Affairs. If you receive unsatisfactory results, you can enroll in courses at a language school, of which there are quite a few in Latvia.

Time frame for obtaining citizenship

The processing time for applications for citizenship depends on the reason for which it was submitted. Exiles or their descendants receive a decision within 4 months, ethnic Latvians and Livs - 1 year, under the naturalization program - 1 year.

Expenses

There is a fee of 28.46 euros for processing documents for citizenship. Pensioners, large families (3 or more children), students and some other categories of low-income groups have the right to pay a preferential fee of 4.27 euros.

What documents need to be prepared

It stipulates how to become a citizen of Latvia and defines the rules for submitting and considering an application. The regulatory legal act also contains a list of necessary documents that must be provided.

List of main documents:

• application for citizenship;
• identification document;
• a certificate confirming receipt of legal means of subsistence (certificate of salary from the place of work, bank account statement);
• photo (1 pc., size 30 x 40 mm);
• confirmation of residence in the country for the last five years: certificate from place of work;
• certificate from the educational institution;
• paper from the State Social Insurance Agency (VSAA) about contributions;
• a document confirming the conduct of economic or financial activities in Latvia;
• a certificate stating that the person lives in the territory of the corresponding region or city, issued by an official;

If children under 15 years of age receive citizenship together with a foreigner, additional papers must be included in the package of documents:

• application for naturalization of a child;
• a certificate confirming the child’s permanent place of residence in Latvia.

Obtaining through naturalization

Naturalization is the gradual learning of culture, language and traditions. During this period, you must reside in Latvia. Obtaining citizenship in this way is especially important for Russians and Ukrainians who have emigrated for permanent residence to Latvia.

Only people who have certain factors, such as:

1. Over fifteen years old.
2. Permanent residence in the territory of the republic for five years.
3. Knowledge of the national language at a decent level.
4. Possession of knowledge of the history of Latvia.
5. Knowledge of basic legal aspects, including study of the country's Constitution.
6. Knowledge of the national anthem.

You must apply for Latvian citizenship only if you renounce the citizenship of your home country. The Republic of Latvia accepts dual citizenship only in exceptional cases. Ukrainians and Russians are required to sign a document indicating their renunciation of citizenship.

Also, a mandatory condition for obtaining the status of a citizen of this republic is the provision of a document confirming the availability of funds. Such paper must indicate the presence of a source of income.

This could be a job, financial income from a business or rental property. If a person who decides to obtain citizenship in this way has children under the age of fifteen, they also have every right to apply for a similar status. All questions regarding obtaining citizenship are decided by the Office of Migration Policy and Citizenship.

Amount of state duty and period for consideration of the application

There is a state fee for reviewing documents for naturalization. You can pay it at the territorial division of the OCMA of Latvia, at any bank, or post office.

You can find out how much it costs to obtain citizenship by reading. The fee is 28.46 euros.

The state duty amount of 4.27 euros is established for the following categories:

• low-income;
• people without work who are registered with the State Employment Agency;
• members of large families (three or more children);
• persons of retirement age;
• disabled people of the second and third groups;
• students of government institutions, full-time students of universities.

Exempt from paying state duty:

• persons repressed for political reasons;
• people with disabilities (disabled people of the first group);
• orphans and children left without parental care;
• persons who are in state or municipal social care institutions.

According to Latvian legislation, the Ministry of Internal Affairs is given no more than one year to consider an application for citizenship.

How to obtain citizenship in Latvia

To obtain a passport of the Republic of Latvia, you should take into account the nuances of the procedure. Submission of an application is preceded by obtaining a temporary or permanent residence permit.

Advantages of Latvian citizenship for Russians

Latvian citizenship gives Russians the following privileges:

1. Visa-free visits to all countries of the European Union;
2. Simplified visa processing for the USA, UK, Canada, Australia;
3. Possibility of simplified registration of citizenship of another EU state;
4. Study in educational institutions of the European Union without the need for a student visa;
5. Subsidies, benefits, payments from the state;
6. Simplified recruitment process.

Restrictions on the rights of non-citizens of Latvia

In 2021, the number of non-citizens living in the Republic is about 230 thousand (11% of the population). Unlike ordinary Latvians, they are deprived of the following privileges:

1. Suffrage;
2. Opportunity to work in government agencies and serve in the army;
3. Carrying a weapon;
4. Entry into most Schengen countries without a visa.

These are not all restrictions. Today there are about 80 of them. This situation does not suit many Russian-speaking residents of the republic and causes a negative reaction from the Ministry of Foreign Affairs of the Russian Federation. However, the number of people wishing to leave the country and move to Russia due to these restrictions comes down to a statistical error.

Why they may not grant Latvian citizenship

In accordance with Articles 20, 21 of the Resolution of the Cabinet of Ministers of the Republic of Latvia No. 1001 of September 24. 2021, Latvian citizenship may be denied if the applicant:

• provided an incomplete package of documents or false information;
• does not have legal grounds for naturalization or they have been lost;
• violated the rules of the Latvian language exam or failed to pass it three times;
• refuses to test knowledge of the basic rules of the Constitution of the Republic of Latvia, the text of the national anthem, and the history of the country;
• did not swear allegiance to Latvia;
• does not have a stable legal income;
• by his behavior creates a threat to the state security of Latvia;
• a child who turned 15 years old before the decision was made to grant him Latvian citizenship.

A person whose application is rejected is sent an official letter indicating the reasons for the refusal.

It is possible to appeal the decision of the Ministry of Internal Affairs in court: you need to file an appeal, indicating which legal norms were violated.

You can re-apply for Latvian citizenship one year after the decision to refuse is made.

Features of naturalization

The naturalization method is the most suitable for immigrants from Russia. The process itself usually takes about 10 years, 5 years of which you need to live in Latvia with a residence permit status and 5 years with permanent residence.

Conditions

There are special requirements for applicants:

• age over 15 years;
• knowledge of the Latvian language at an acceptable level;
• knowledge of history, the Constitution and the national anthem.

In addition to these requirements, a permanent legal source of income is required to live in the territory of the Republic of Latvia. Income must be stable and independent of the political situation in the country. It must be documented.

Income can be considered:

• wages under an employment contract;
• profit from commercial activities;
• income from rental of residential or non-residential real estate;
• profit from holding securities;
• bank deposit and interest on it.

Children who have not reached the age of 15 and permanently reside in the territory of the Republic of Latvia also go through the naturalization process together with their parents.

Passing the exam in language and basic legislation

Candidates applying for Latvian citizenship are required to pass certain tests and exams to obtain citizenship of the country. This procedure is mandatory in all EU countries.

The first thing you need to do is pass an exam on your knowledge of the Latvian language. It takes place in two stages:

1. Oral communication, which reveals the level of proficiency in spoken Latvian.
2. A written exam.

To successfully pass the exam, you must have at least category B1 language proficiency, that is, answer at least 51% of the questions. If there are 75% or more correct answers, you can get category B2.

The remaining exams can be taken either written or orally. The choice of delivery form depends on the preferences of the applicant. You must memorize the anthem and be able to recite its text.

Attention ! Only 3 attempts are allowed to pass the Latvian language proficiency exam. If the applicant does not show a satisfactory result after three attempts, the application will not be considered further. In this case, it is necessary to submit the application again, but not earlier than six months later.

If you fail the social integration exam, you can resubmit your application after 3 months. The state fee must be paid again. When taking the exam, you will only need to retake the part that was failed during the previous exam.

Latvian legislation provides for exemption from taking the exam for the following categories of immigrants:

• students who have completed their studies at universities in the country;
• persons who received secondary and vocational education in the state language;
• people aged 65 years or more;
• disabled people of all categories.

Features for refugees

An international program for the protection of refugee rights operates in the Republic of Latvia. This status is determined by the Geneva Convention. To become a full citizen of Latvia, a refugee must live in the country for 5 years.

Who cannot naturalize?

The legislation identifies certain categories of foreign citizens who cannot become citizens of Latvia and naturalize:

• employees of foreign intelligence services, military personnel and government employees in service;
• persons who openly call for actions of a terrorist nature, actively promote fascism, communism, totalitarianism and other ideologies prohibited in the Republic of Latvia;
• people who deny basic constitutional provisions;
• immigrants who have a criminal record under articles that are in force in the Criminal Code of Latvia.

Is it possible to have a passport from several countries?

The legislation of the Republic of Latvia allows only one citizenship. If a person has, for example, dual citizenship of Russia and Latvia, then in legal relations with the Republic of Latvia he is recognized only as a citizen of Latvia.

A foreigner who wishes to naturalize in Latvia is obliged to renounce his previous citizenship. The exceptions are:

• children whose parents have citizenship of different states, provided that the mother or father is a Latvian citizen;
• children adopted by Latvians (may have citizenship of their previous country of residence);
• persons who have received permission from the Cabinet of Ministers of the Republic of Latvia to retain their second citizenship.

Double citizenship

Only citizens of those countries with which Latvia has signed an agreement have the right to obtain dual citizenship. Today, neither Russia nor Ukraine are included in the list of these countries.

But there are two exceptions, which provide for the assignment of the status of Latvian citizen to Russians without their renunciation of citizenship of the Russian Federation.

1. Permission to maintain an existing citizen status can only be given by the Cabinet of Ministers.
2. Through a formal marriage or adoption process.

Exceptions also apply to children under the age of majority. In this case, the child has the right to take both the citizenship of the mother and the citizenship of the father. The only important condition is that one of the parents must have the status of a citizen of Latvia.

How they live in the Republic of Latvia

The Republic of Latvia is a small Baltic state that attracts many foreign citizens with comfortable living conditions. Those who decide to move should be aware of the following points:

• To officially get a job, you need to obtain a work permit and visa;
• higher education in the country is paid, training is carried out mainly in the Latvian language;
• a reliable banking system, a flexible tax system, government programs to support small businesses attract private entrepreneurs;
• Emergency medical care is provided to foreign citizens if they have an insurance policy.

Advantages and disadvantages

Immigrants from Ukraine, Russia, Belarus who immigrate to the Republic of Latvia seek to obtain citizenship for several reasons:

• European laws apply in the state;
• smart young guys who speak the state and English languages ​​are willingly hired into the civil service;
• territorial accessibility of the country (you can get there by any type of transport);
• the population in many cities speaks Russian (if they don’t communicate, they understand Russian well);
• quality products can be purchased at low prices;
• a large number of historical and natural attractions.

Many migrants in Latvia face the following problems:

• there is a limited choice of vacancies on the labor market;
• low salaries compared to other EU countries;
• the Latvian employer spends more than 40% of the amount allocated for salaries on taxes and social benefits;
• knowledge of the Latvian language is required for qualified work;
• high humidity, frequent winds and rain.

Life in a Baltic country, where you can get a quality education, buy real estate by taking out a profitable mortgage loan, open your own business, or invest in any EU country, is worth the effort spent on obtaining a Latvian citizen’s passport.

Advantages of Latvian citizenship

Many citizens of Russia and other countries not included in the list of EU countries are seeking to obtain Latvian citizenship. Before we find out how to obtain Latvian citizenship, let’s find out what advantages it gives:

• visa-free travel within the European Union;
• visa-free entry to the USA, Japan, Argentina, the Dominican Republic and some countries in Asia and Africa;
• many Latvians know the language of the Russian Federation;
• the opportunity to obtain higher education at any European university;
• receiving benefits that are intended for European citizens;
• the opportunity to participate in elections, elect and be elected;
• quality products at low prices;
• effect of European laws.

“Golden visa”, or how to obtain a Latvian residence permit through the purchase of real estate. Detailed guide

Share:

The state program for obtaining a Latvian residence permit for investment was launched back in 2010. There was a boom in investment in the country in 2014, when 2,250 properties were purchased in order to obtain a residence permit.

What is the situation today? What advantages does the Latvian “golden visa” provide and how much will it cost to obtain the status? About this and about alternative programs in the EU - in today's material.

The advantages are in detail: what opportunities does the Latvian golden visa offer?

The popularity of the program among wealthy businessmen is not surprising, because investors have many advantages available to them:

• Possibility of free movement throughout Europe . A Latvian residence permit allows you to travel around the Schengen countries without visas. Another bonus is an easier visa regime for the UK, Canada and the USA.
• There is no requirement to reside in the country before and after obtaining temporary resident status.
• Opportunity to be located directly in Latvia . You can create a “backup airfield” in a developed EU country in case of political or economic instability in your home country.
• Access to prestigious European education, quality medical care, and a developed legal system.
• Possibility to store capital in reputable European banks.
• Possibility to obtain a European driving license (to do this you need to live in the country for 183 days).
• Fast paperwork . The procedure for issuing a residence permit takes from 1.5 to 3 months, and you only need to stay within the country for 1 day (immediately at the time of receipt).
• The status is issued for 5 years . If you have invested in real estate or deposited funds into a deposit account at a credit institution, you must annually confirm the issued permit. If you purchased government bonds, you do not need to confirm the fulfillment of the investment requirement every year.
• After 5 years, you can apply for permanent resident status . To obtain permanent residence after the expiration of the residence permit, you must be on the territory of the state almost constantly - absence is allowed for no more than 6 months continuously or no more than 1 year in total for the previous five-year period.
• After 10 years you can apply for citizenship . To obtain a Latvian passport, you must renounce your first passport and confirm your knowledge of the language and history of the state.

SINCE THE LAUNCH OF THE LATVIAN PROGRAM, MORE THAN 16 THOUSAND INVESTORS AND THEIR FAMILY MEMBERS RECEIVED RESIDENCE PERMIT STATUS. THE TOTAL AMOUNT OF INVESTMENT INVESTMENTS WAS MORE THAN 1 BILLION EUROS.

Costs of obtaining status

Another, no less significant advantage of the Latvian “golden visa” is financial accessibility. The minimum investment amount is from €250 thousand. For comparison: in Cyprus - from €300 thousand, in Malta - from €300 thousand, in Portugal - from €350 thousand.

The program provides several investment options. The most popular way is to purchase real estate. Ego was chosen by more than 80% of all foreign investors. When giving preference to this option, several features should be taken into account.

• The minimum value of the property is €250 thousand. If the cadastral value of the property is below €80 thousand, you must obtain confirmation (certified assessment) from a specialist that the minimum market value of the property is €250 thousand.
• You can purchase 2 real estate properties with a total cost of €250 thousand. Each property must cost at least €125 thousand or at least € 40 thousand according to the cadastre. An important condition is that the property must be located in provincial regions. A province is considered to be all territories outside of Riga, Jurmala, Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazhi, Salaspils, Saulkrasti or Stopinsky region.
• You can purchase property only from a legal entity registered in Latvia , a citizen of the Republic of Latvia or another EU country, a foreigner who has a Latvian residence permit.
• This must be a built-up property . It is not allowed to acquire land plots used for agriculture, forest land, real estate in border areas, nature reserves, in the dune protection zone of the Baltic Sea and the Gulf of Riga.
• An additional state duty of 5% of the value of the property is paid. Minimum – €12,500.
• It is allowed to purchase residential and commercial real estate, the property can be rented out.
• Payment for purchases is made only by bank transfer.
• To pay the full cost of the transaction, you can use credit funds issued by a Latvian bank.

No sharp price increases are expected in the Latvian real estate market in the coming years. Experts predict a small annual increase - about 5% on average across the country; in Riga and Jurmala, perhaps more.

Purchasing real estate is not the only way to obtain a golden visa. According to the terms of the program, foreign applicants can:

• Invest in an existing business in Latvia . From €50 thousand - to a company with less than 50 employees and a turnover of at least €10 million per year, or from €100 thousand - to a company with at least 50 employees and an annual turnover of at least €10 million. No more than 3 investors in one company can apply for a residence permit, and when submitting an application, an additional fee of €10 thousand is paid.
• Deposit funds into a deposit account in a Latvian bank - from €285 thousand. Additionally, a state duty of €25 thousand is paid. The minimum investment period is 5 years.
• Buy interest-free government securities with a total value of €250 thousand without the right of early repayment earlier than 5 years. An additional expense item - €25 thousand must be paid to the state treasury.

Requirements for the applicant

To apply for a Latvian residence permit for investment, an investor must meet a number of requirements:

• Age from 18 years.
• Having sufficient funds to support yourself and dependents at the rate of €13,320/year for the main applicant, €4,400/year for the spouse, €2,664/year for each minor family member.
• Availability of sufficient funds to fulfill the investment requirement (excluding additional fees and duties).
• No criminal record or criminal history. A certificate of good conduct is issued by the competent authorities of the states where the investor has been staying for more than a year.
• No debts to the tax service and other authorities of the country.
• Availability of a health insurance contract, absence of serious health problems (AIDS, oncology).
• Favorable and stable credit history, impeccable business reputation.
• Availability of a valid travel document and Schengen visa to enter Latvia.
• Non-involvement in terrorism, activities and financing of the work of prohibited organizations.

The Latvian real estate market has entered a stage of stability

If in 2008–2011 the price for an apartment in premium complexes in Riga was €1,500 per square meter, then after the launch of the program the cost increased significantly. Already in 2014, real estate in the central areas of the capital cost €2,200–2,700 per square meter.

With the adoption in 2014 of an amendment to the Law “On Immigration in Latvia” increasing the minimum threshold for investment in property to € 250 thousand, the number of foreign investors decreased. BUT: in parallel with this, the purchasing activity of local residents has increased, which guarantees stable development of the market in the coming years.

ACCORDING TO THE DATA OF THE OCMA OF LATVIA, RESIDENTS OF RUSSIA, UKRAINE, CHINA, KAZAKHSTAN, UZBEKISTAN ETC. ARE MOST OFTEN INTERESTED IN PURCHASING REAL ESTATE. PROPERTIES ARE IN GREATEST DEMAND IN RIGA (63% OF THE TOTAL NUMBER OF TRANSACTIONS), JURMALA (29%) AND SUBURBAN AREAS.

It is important that the country is experiencing an increase in demand for commercial real estate. According to realtors, renting out housing in Riga brings an income of 3–4% per annum for premium class apartments and 6–8% for economy class apartments. By renting office or retail space, you can get from 4 to 10% per annum.

“Golden Door” to Europe: which option is the most attractive for investors?

Latvia is not the only country in Europe that offers residence permits in exchange for investments. Wealthy businessmen are attracted by “golden visas” from Portugal, Greece, Spain, as well as permanent residence status in Cyprus and Malta.

program for investment provides for three forms of participation: the creation of 10 new jobs, investment in the country’s economy from €1 million, or the purchase of real estate. The value of the real estate must be at least €500 thousand (any property) or €350 thousand (old property that needs reconstruction). The process of obtaining a residence permit does not exceed 8 months. Over the course of five years, 5,412 program participants received Portugal’s “golden visa”, and the total investment amounted to €3.36 billion. Experts agree that in 2021 the value of real estate in the country will increase by 3% per year, and in the next 5 years - by 5%. In this regard, it is not surprising that 94% of investors prefer investing in real estate.

program for investment provides for the purchase of real estate worth from €250 thousand (excluding taxes and fees). Documents can be completed within 3 months. The Greek Golden Visa is valid as long as the investor owns the property. There is no requirement to reside in the country, but in order to qualify for permanent residence after 5 years, you must be in the state for at least 183 days a year. Today, the situation on the real estate market plays in favor of choosing Greece. The Bank of Greece index shows that house prices in Athens have fallen by 43.8% since 2008, and the market is only just beginning to recover. It is quite possible that Athens could become one of the hottest markets in Europe in the near future.

obtain a Spanish residence permit through investment in 2–3 months. To do this, you need to open a deposit in a bank or invest in shares of national companies from €1 million. An alternative is to purchase government bonds worth €2 million or more or purchase real estate worth €500 thousand or more.

In April 2021, the Spanish program for the first time became the leader in Europe in the number of residence permits issued in exchange for real estate investments. The increase in demand is due to changes to the program conditions in 2015, including:

• expanding the list of persons who can be included in the application;
• the ability to submit documents for a residence permit without the need to first open an investor visa;
• opportunity to work in the country.

Malta and Cyprus offer permanent residence in exchange for investment . In each case, the minimum investment amount is from €300 thousand. If in Cyprus the entire amount must be invested in residential real estate, then in Malta a combined investment is provided (€250 thousand - investment in securities, €30 thousand - payment of government fees and from €10 thousand per year real estate rental). In Malta, you can not rent, but buy a property worth €270 thousand. By the way, purchasing real estate in each of these countries is a promising investment. According to Knight Frank, Malta ranks third among 10 countries where property prices are growing the fastest. In Cyprus, property sales have soared in 2021. According to the Savills agency, the number of transactions in the first 6 months of 2021 increased by 8% compared to the same period in 2016.

Thus, a residence permit in a European country is an excellent way to preserve and increase existing assets, and protect yourself from possible economic or political problems in your home country. Having received a “golden visa”, you can freely move around the Schengen countries, receive income from renting out property, live in the EU, and in the future even apply for citizen status.

Kristina Ruzhilo - immigration expert, managing partner

Documentation

For each foreigner, the package of documents may be different depending on the basis on which he intends to obtain citizenship.

At the same time, there is a basic package of documents that is the same for everyone, and these currently include the following papers:

1. Internal passport.
2. International passport.
3. Medical certificate.
4. A certificate confirming that there are no problems with the law in Latvia, as well as in your home state.
5. Photos.
6. Bank account statement.
7. Certificate of knowledge of the history of the country and the state language.

Common reasons for failure

The most likely reasons for refusal to obtain Latvian citizenship are:

• false data and falsification of documents;
• incomplete package of documents;
• fictitious marriage;
• the applicant does not have a stable legal income or its amount is insufficient;
• the period of residence in the territory of the Republic of Latvia is less than required;
• the applicant's criminal history and criminal record;
• violation of the laws of the Republic of Latvia.

The reason for the refusal is indicated in the official letter. According to Latvian legislation, an applicant who has been refused citizenship has the right to appeal it in court. To do this, you need to file an appeal, in which the applicant must indicate which legal norms he violated.

Procedure for obtaining citizenship

To obtain a civil passport of the Republic of Latvia, it is necessary to fulfill all the above requirements and prepare all kinds of documentary evidence of this. Applicants 15 years of age or older must be present in person to submit documents. Documents for obtaining citizenship are reviewed by the Cabinet of Ministers of Latvia.

Applicants who have special services to the Republic of Latvia are subject to the conditions for obtaining Latvian citizenship in a simplified manner. However, they are not obliged to renounce their previous citizenship and live in Latvia as a permanent resident. The only condition for such citizens is the absence of a threat to the law and order of Latvia on their part and an oath of allegiance. Persons representing state interest for Latvia must submit documents to the Seimas. They must provide an autobiography and a statement that their biography contains no facts that would prevent them from obtaining citizenship under Latvian laws.

Required documents

In order to obtain the status of a citizen of the Republic of Latvia, you need to prepare the following documents:

• application for Latvian citizenship;
• internal passport of the country of former citizenship;
• a document confirming the renunciation of previous citizenship; for stateless persons - confirmation of its absence;
• a document confirming legal residence in Latvia;
• a document confirming the presence of a legal stable income;
• receipt of payment of state duty;
• 3 clear photos 3x4 cm on a white background;
• medical certificate from a Latvian medical institution;
• a document confirming the availability of real estate or a lease agreement;
• a certificate from the police department confirming the absence of offenses and imposed administrative penalties;
• certificate of absence of debts issued by the tax service;
• applicants with children must submit their birth certificates.

Terms of consideration

Consideration of a foreigner’s application and documents can last up to one year, since during the verification process the documents pass through many authorities. But often the waiting period is reduced to 6 months.

Price

When obtaining the status of a citizen of the Republic of Latvia, you must pay a state fee, the amount of which is 28.46 euros.

Methods of obtaining

Important! Descendants of persons who received Latvian citizenship before 06/17/1940 also have the opportunity to obtain resident status of the republic if they have a documented relationship. In this case, not only direct descendants, but also their children under the age of fifteen years have this right.

As a rule, in the absence of kinship with Latvian citizens, the first step towards citizenship will be obtaining a residence permit.

Conditions for obtaining citizenship

Applicants for a Latvian citizen passport must meet the following requirements:

• Age over 15 years.
• Permanent residence (permanent residence) in Latvia for the last 5 years. The permissible total period of absence for these 5 years is 10 months, but not six months in a row before submitting the application.
• Proficiency in the state language - immigrants take an exam.
• Knowledge of the history of Latvia, its laws, Constitution, national anthem is a separate test.
• Having a permanent and legal source of income. The applicant's minimum income depends on his category and ranges from 0.5 to 2 thousand euros.
• Renunciation of Russian citizenship. Refugees and children from multinational families (up to age 18) reserve two passports. Residents of Russia, Ukraine and Belarus can have dual citizenship in Latvia only after receiving special permission from the Cabinet of Ministers.

Latvian Citizenship Law: who can become a citizen and who cannot

Any foreign citizen can apply for Latin citizenship. To do this, he must meet the following criteria:

• availability of a residence permit;
• residence in Latvia for a period of at least five years.

First, a foreigner needs to obtain a residence permit. This is the first step towards becoming a full-fledged citizen.

Latvian legislation also defines cases of impossibility of obtaining citizenship. These include:

1. On the part of the citizen, anti-constitutional actions against the status of independence of the state were noticeable.
2. The person was seen promoting fascist and communist ideas in the country.
3. A person is involved in the governance institutions of another state or performs military service in another country.

IMPORTANT! Persons with a criminal record cannot count on obtaining citizenship.