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European Citizenship

Latvia

Situated in North-Eastern Europe with a coastline along the Baltic Sea, Latvia has borders with Estonia, Russia, Belarus and Lithuania. Not much more than a decade after it regained independence during the demise of the Soviet Union, Latvia became a European Union Member in May 2004. Latvia is also a member of the World Trade Organization (WTO), and in 2014 became a member of the Eurozone, accepting the Euro as its method of currency.

 

The Latvian government launched its Golden Visa Program in 2010 in order to attract foreign investors from third countries and make local economy benefit from their investments. Latvian Temporary Residency Permit (TR) is issued for 5 years and renewable annually. The TR allows its holders visa-free travel to all Schengen states. After five years of Temporary Residence, living in Latvia and passing language test it is possible to apply for Permanent Residency (PR). While passport is not guaranteed, under certain conditions, after 10 years of PR & passing Citizenship Test it is possible to apply for Citizenship & Passport. As the cheapest Residency by Investment Program in Europe, Latvia offers investors a wide range of benefits:

  • Fast processing times. TR Card issued in 3-4 months.
  • Visa-free travel to Schengen zone.
  • Latvia residence permit for the whole family (spouse & children under18 years).
  • Rights to live, work and study in Latvia.
  • Minimum investment €50,000 plus service charges (all in under EUR95,000).
  • No residency or relocation requirements. Only 1 visit per annum required to renew TR.
  • No interview or language requirement for Residency.
  • Permanent Residence in 5 years (after living in Latvia for 5 years & passing the language test Level-A2) and Citizenship in 10 years (after passing citizenship exam).

With the Oct.2013 Amendment to Latvia Law Dual Citizenship is permitted with certain countries.

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