New amendments to the Immigration Law of Latvia come into force on 01 September 2014

25 august 2014

Foreign investors will be entitled to temporary residence permits in Latvia and visa-free movement within the territory of the Schengen States without having to live permanently in a certain European country, in the following cases: 

1. investments in the subordinated capital of a Latvian bank in the amount of at least EUR 280 000 for the term of not less than five years and a one-time payment of EUR 25 000 into the economic development fund of Latvia. 
Having ongoing partner agreements with the largest Latvian banks we render an advisory opinion not only on investments in the subordinated bank capital, but also legal aspects of investor-foreign bank relationship, credit capacity and many other bank services. 

2. purchase of real estate in Latvia with the value of at least EUR 250 000 and a one-time payment amounting to 5 percent of the value of real estate into the economic development fund of Latvia. 
With professional realtors working in our office in Riga we advise on investment opportunities of the Latvian Real Estate Market, search for real estate that the investor needs and fully protect the investor’s interests both from legal and tax point of view. 

3. shareholders (members) of Latvian business entities, when taxes at least 40 000 EUR per year are paid in. 
With professional lawyers, advisors and accountants working in our office in Riga we provide a full range of services for establishing a legal entity of any type in Latvia, accounting records maintenance, legal support of business activities carried out by a company created in Latvia and abroad. 

4. members of the Board of Latvian companies, heads of representative offices of foreign companies in Latvia, when specific conditions are met. 
Rendering professional advice on how to use foreign companies safely we provide a full range of services for opening a representative office of your company in Latvia or an off-shore company, accounting records maintenance and support of activities of the representative office in Latvia. 

FOR FURTHER CLARIFICATIONS PLEASE FEEL FREE TO CONTACT Mr. Igor Stukanov, Managing Partner and Certified Lawyer; more detailed information can be obtained from our website