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Latvia

COUNTRY PROFILE
• Capital: Riga
• Population: 2.2 million
• Area: 64,589 sq km (24,938 sq miles)
• Major language: Latvian, Russian
• Major religion: Christianity
• Life expectancy: 69 years (men), 79 years (women)
• Currency: Euro
• Exchange Rate (as of May 2018): US$ 1.00 = 0.88 EUR

latvia-map

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 one year and is renewable annually. The TR allows its holders visa-free travel to all Schengen states. After five years of Temporary Residence it is possible to apply for Permanent Residency (PR). After 10 years of PR & Language 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. • Rights to live, work and study in Latvia. • Minimum investment €50,000 plus 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 and Citizenship in 10 years (after living 5 years in country & passing language test). • With the Oct.2013 Amendment to Latvia Law Dual Citizenship is permitted.

Type of Program Citizenship by investment.
Type of Investment’s Donation to National Development Fund (NDF)
OR
Investment in Real Estate
OR
Business Investment
Minimum Investment

( 1 ) NDF Donation:
Donation (Up to 4 family members): USD 100,000
Donation (Family of 5+ members):USD 125,000

Plus Government Fees:
Processing fees (Up to 4 family members): USD 25,000
Processing fees for each additional dependant: USD 15,000

( 2 ) Real Estate:
US$200,000 each x 2 Investors

Plus Government Fees:
Processing fees (Up to 4 family members): USD 50,000
Processing fees for each additional dependant: USD 15,000

( 3 ) Business investment:
USD 400,000 (group of investors)

Restricted Nationalities: Afghanistan, Iran, Iraq, N. Korea, Somalia, Sudan & Yemen.

Minimum Stay 5 days (total) in first 5 years only.
Capital Gains Taxes No.
Personal Income Taxes No
Business & Corporate Taxes 25% of net profits. Concessions are available to qualifying companies
Property Taxes  No
Processing Time 4-5 months.
Passport Validity The first passport issued has a 5 year validity to ensure the applicant meets the 5 day residency for renewal & oath taking Thereafter a 10 year passport is issued.
Visa Free Travel 150 Countries

 


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