How to get European residence: Latvia Golden Visa

You have been thinking about moving to a European country, but you don’t know where to start? Good news is, it is not as difficult as it may seem; let’s have a look at Latvia – a small Baltic state, and a full member state of the European Union. By investing in real estate there you get a chance to obtain EU residence. This is a unique opportunity to start a new life, travel around Europe, get access to high-quality education and accessible healthcare as well as great career and business opportunities, and all this in a transparent legal environment.

Latvia residence by investment in real estate: main benefits

One of the easiest ways to get Latvian residence and EU citizenship by investment is to buy a property in Latvia for at least €250,000. If you decide to apply for Latvian residence card, it is worth considering properties in the big cities of Riga and Yurmala. Choosing the capital would mean a lot of benefits for your future life including the following:

1. Excellent infrastructure – schools, nurseries, hospitals, GPs, shops, restaurants and other services;

2. Beautiful nature – luxurious villas in the green areas of Mezaparks, Bukulti or Alderi, or on the lake banks;

3. Laid-back lifestyle – Latvia residence by investment in real estate guarantees a slow paced and comfortable living for life;

4. Light traffic – it normally takes less than 20-30 minutes to get anywhere in Riga;

5. High air quality and a lot of greenery – residence in Latvia, including Riga, is a great opportunity to improve your health and quality of living.

Yurmala is the second-best choice when it comes to buying property in Latvia. It is a well-known sea resort that hosts many international music and comedy festivals. The weather there is mild, and you can also benefit from the Kemeri National Park at your doorstep.

Latvia real estate market is on a slow but steady rise, so you will find it easy to sell your property later, should you wish so.

How to get Latvia residence card by investing in a property

Main requirement is the cost of an apartment or a house cannot be less than €250,000. On top of that main applicant must meet the following criteria:

• Be at least 18 years old (if you have dependants, including spouse and financially dependent children and parents, they must apply together with you);

• No criminal record;

• Enough money to maintain yourself and any dependants without applying for social benefits;

• Health insurance for one year;

• Total cadastral value of the property must not be less than €80,000;

• Purchase by bank transfer;

• Medical reference confirming you are in good health;

• No property related debts, including non-payment of taxes – this is vital for Latvia Golden Visa.

Please remember that you cannot buy agricultural land, woods or forests with the view of applying for a Golden Visa. In order to get Latvia residence card, which means a real European residence, you must also pay 5% government fees and 2% stamp duty for registration of title of the total purchase value.

In the end we’d like to say that’s it is great to dream big, but do not be put off by how long it might take for your dream to come true. Take one step at a time and you will provide a better life for yourself and your family. You will be able to increase your income and live in a stable economy – Latvia residence by investment is your ticket to that future.