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Business immigration to Latvia – gateway to the EU

Residence permit in Latvia paves the way to high-standard education, lucrative European markets, as well as high standards of living. Namely, Latvia offers driving license valid throughout the EU, limitless entrance to the country, a permission to buy a property or a car, working permit and social care. Moreover, you get visa-free access to 26 states and can invite your family members. Residing in a prosperous country and conducting business in Europe means stability, security, and welfare mentality.  

Business immigration to Latvia is recognized as the easiest access to the Schengen area for the whole family. The procedures are quick and non-burdening. Residence permit means you get a plastic ID card that allows spending more than 90 days in the country during 6 months for the whole family (although this is not a compulsory requirement). Moreover, you are free to acquire property, open bank accounts etc. One can apply remotely, personal presence is only necessary to obtain a status.

What do you need to know about business immigration to Latvia?

In order to qualify, you have to file a valid statement and have registration at the place of residence in Latvia. It either can be a purchased or leased property. Bad health conditions, military service at home or previous criminal records will lead to denial of your application.

Why choosing Latvia?

First of all, it is quite easy to get a residence permit in the state. 2 million Latvians enjoy mild climate, dense forests and top ranks in annual ecological ratings. It is an important issue at times when the global community acknowledges the necessity of fighting global warming and setting high-efficiency standards. The country is proud of prestigious resorts (especially, Jurmala) and renowned annual cultural and musical festivals. Business immigration to Latvia gives numerous advantages to entrepreneurs:

  • Key branches of the economy are logistics, trade, tourism, food industry, banking
  • Over the last decade, the country has profited significantly from the payment of fees for transit of oil and other goods by Russia
  • Latvia has tight trade relations with Lithuania and Estonia due to the established customs union
  • There are 8 seaports in the country, and the capital airport is considered to be the biggest among all neighboring countries.
  • Latvia has become the 35th member of Organization for Economic Cooperation and Development (OECD)

Business immigration to Latvia foresees a permanent residency

After half a decade of temporary residency, one gets a chance for a permanent residence permit. In this case, there are restrictions on the duration of absence, as well as requirements of the minimal compulsory residency period. In addition, a knowledge of the national language has to be proved with an exam, minimum B1 level is mandatory.

Then you can either deposit money in Latvian bank or make a business investment. Another traditional option is a purchase of property. It is worth mentioning that prices for the square meters in Jurmala are quite high. The tag ranges from €4,000 to €6,000 per sq. meter. However, there are cheaper real estate alternatives of business immigration to Latvia. Have you ever heard of Ventspils? This town with the population of approximately 50,000 is located near the seaport. The city has modern resort infrastructure and its beaches are proud of the “blue flags” awards. A modest apartment of some 40 sq. meters in a building of Soviet era will cost up to €10,000. Despite the fact, that such property will require certain renovations, it’s a real bargain.

Business immigration to Latvia should be done responsibly and thoughtfully as this is a solid step. All the required documents are spelled out in legislation. It takes from 5 to 30 days to process an application. Intelligent Solution Group with its head office in Riga will make immigration to Latvia easy as pie. We will help to draw all documents, statements and advise the best investment option based on your goals. You will be satisfied by our expertise, confidentiality, and range of services, as we know Latvia from A to Z.

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