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HAVE YOU HEARD THAT YOU CAN RECEIVE A $50,000 CASHBACK WHEN YOU APPLY THROUGH OUR INVESTMENT OPTION? CONTACT US NOW TO CLAIM YOUR BENEFITS!
Greetings, If you’re interested in obtaining Latvian residency through a fixed deposit, here are the details below:
Bank Deposit Option: Considered one of the fastest ways with minimal legal formalities, this method allows you to obtain a temporary residence permit in the Republic of Latvia.
Bank Deposit
RESIDENCE PERMITS BASED ON A FIXED-TERM DEPOSIT IN A CREDIT INSTITUTION
Statement of the credit institution regarding the fact that the deposit agreement has not been terminated before the repayment term of the deposit;
A bank deposit is considered the fastest way with the least legal formalities to get a residence permit in the Republic of Latvia.
An applicant must fulfill the BELOW given conditions to become eligible to receive a temporary residence permit to reside in Latvia for 5 years;
He/she must invest a minimum of EUR 280,000 in a Latvian bank.
Bank term deposit will be locked for a minimum of 5 years, but interest will be paid depending on specific bank promotions.
EUR 25,000 shall be paid to the state budget of Latvia.
Residency application-related expenses.
All Latvian banks are seamlessly integrated into the EU banking system and undergo similar experiences to other European banks. To achieve full membership in the European Economic Union, Latvia adopted the euro currency in 2014.
To be eligible, you must fulfill the following conditions:
Applicants must be at least 18 years old and have no criminal record.
They should not have any outstanding real estate purchase debts.
A legal source of income is required.
Family members (spouse and children under 18) can also be included in the application.
Investment Amount: You must invest a minimum of EUR 280,000 in a Latvian bank.
Duration: With this investment, you’ll receive a residence permit that allows you to reside in Latvia for 5 years.
Refund: After 5 years, your investment will be refunded along with any accrued interest.
Remember that the residence permit is issued in the format of an identification card, and biometric details (such as fingerprints and a digital picture of your face) are required before receiving the permit.
What is a residence permit?
A residence permit is a document providing a foreigner the right to reside in the Republic of Latvia for a definite period (a temporary residence permit) or permanently (a permanent residence permit).
We helps non-EU residents to become temporary residents of Latvia by assisting them all through the Latvia immigration process based on their fixed-term deposits in a credit institution. We are constantly updating our team with the latest valuable offers provided by Latvian banks. It makes us highly proficient in giving the best Latvia immigration and other related legal services to the clients.
Simply inform us about your background,
Your current financial situation,
Your future plans,
And we'll ensure more efficient handling of your entire immigration process to secure a temporary permit allowing you to stay in Latvia for 5 years.
We assist our clients in preparing all necessary documents for the process. Following 5 years of legal residency in Latvia, you'll be eligible to apply for a permanent residence permit, and definitly we'll be glad to facilitate that process for you.
Documents Required
To be submitted for Latvia Immigration through a valid Bank Deposit:
Application form of residence permit. *we'll provide and handle that on your behlf.
Photograph (to be attached with application form).*1 check below
Necessary subsistence Proof (as of 1 April 2015).*2 check below
Proof of planned accommodation in Latvia.
Document confirming state duty payment.
Document confirming the subordinate liabilities by the credit institution of Latvia as per Section 23 Paragraph One Clause 30 of the Latvia Immigration Law.
Besides the investment route I mentioned earlier, there are other ways to obtain Latvian residency. Here’s below:
Kinship: If you have relatives who are citizens of Latvia or foreigners with a permanent residence permit, you can attain a residency card through kinship. This option also applies to spouses, parents, guardians, trustees, and foreign nationals of retirement age.
Commercial Activity: Engaging in commercial activities, such as starting a business or signing a business contract with a company operating in Latvia, can lead to residency.
Education: Pursuing education in Latvia and obtaining a student visa can grant you temporary residence. After completing your studies, you may be eligible for further residency options.
Medical Treatment: If you require medical treatment in Latvia, you can apply for a temporary residence permit for medical reasons.
International Relations: Individuals involved in diplomatic or international relations may qualify for residency based on their roles.
Remember that each option has specific requirements and procedures. so it’s advisable to seek our professional advice to determine the best path for your situation.
What are the benefits of obtaining Latvian residency?
Of course, obtaining a Latvian residency offers several advantages:
Freedom of Movement: With a Latvian permanent residence permit, you can travel visa-free to other Schengen countries, making it easier to explore Europe.
Access to World-Class Healthcare: Latvia provides high-quality healthcare services. As a resident, you’ll have access to medical facilities and treatments.
Low Tax Rates: Latvia offers favorable tax rates, including no taxes on dividends, interest, and royalties. Additionally, real estate taxes are relatively low.
Excellent Transport Links: Latvia’s strategic location provides excellent transport connections to other EU member states and even Russia.
No Minimum Stay Requirement: For residence permit renewals, there is no minimum stay requirement, allowing flexibility in your travel plans.
Relatively Low Prices: Latvia offers a cost-effective lifestyle, with relatively low prices for goods and services.
Overall, obtaining Latvian residency provides a gateway to Europe, a favorable tax environment, and access to essential services.
Please Scroll and file the below form if you are interested to apply for a free consultaion
ABOUT YOUR CASE:
What is the cost of living in Latvia?
The cost of living in Latvia can vary depending on lifestyle and location. Below is a summary of estimated monthly expenses for both a family of four and a single individual:
For a Family of Four:
Estimated monthly expenses (excluding rent): €2,732.7 or approximately $2,953.8. Rent in Latvia is, on average, 73.4% lower than in the United States.
For a Single Person:
Estimated monthly expenses (excluding rent): €825.5 or approximately $892.4.
The cost of living in Latvia is, on average, 29.4% lower than in the United States.
These figures are approximate and can vary based on individual preferences and spending habits. Let's explore some particular expenditures:
Restaurants:
Inexpensive restaurant meal: €6.00 - €15.00
Mid-range restaurant meal for two (three-course): €40.00 - €75.00
McDonald’s combo meal: €6.00 - €8.00
Groceries:
Milk (1 gallon): €3.03 - €5.64
Loaf of fresh white bread (1 lb): €0.73 - €1.81
Eggs (12): €1.68 - €3.60
Transportation:
One-way local transport ticket: €1.00 - €2.00
Monthly pass (regular price): €30.00 - €45.00
Utilities (Monthly):
Basic utilities (electricity, heating, cooling, water, garbage) for a 915 sq ft apartment: €205.00 - €500.00
Mobile phone monthly plan with calls and 10GB+ data: €12.00 - €20.00
Leisure and Entertainment:
Fitness club monthly fee for one adult: €20.00 - €52.00
Cinema ticket (international release, one seat): €7.00 - €12.00
Remember, these prices are averages, and actual costs may differ based on personal choices and the specific location within Latvia. Overall, Latvia offers a cost-effective lifestyle and access to European living.
The Due Diligence and Processing Fee:
Varies depending on the family size included in the application.
Please don’t hesitate to contact us if you have any questions, or if you wish to get your accurate quotation in specific details according to your family size.
Sincerly,
Mohamed Waly – Immigration Lawyer
*2 The Latvia residency application typically has specific requirements for photographs, which include:
Dimensions: The photograph should generally be passport-sized, measuring around 35mm x 45mm.
Background: The background should be a light color, often plain white or off-white, free from patterns or distractions.
Lighting: The photograph needs to be well-lit, with no shadows present on the face or background.
Facial Expression: Applicants should maintain a neutral expression, with both eyes open and looking directly at the camera. While a natural smile might be acceptable in certain cases, it's recommended to maintain a neutral expression unless instructed otherwise.
Head Position: The head should be centered within the frame, with the face occupying a significant portion of the photograph. It should not be tilted, and the face should be fully visible.
Attire: Applicants should wear standard attire suitable for a passport or identification photograph. Avoid accessories like hats, scarves, or anything that obscures the face, unless required for religious or medical reasons.
Glasses: If the applicant wears glasses, ensure that there is no glare or reflection on the lenses, and the frames do not cover any part of the eyes.
Quality: The photograph must be clear, with high resolution and sharp focus, free from blurriness or pixelation.
*These guidelines are general, and specific requirements may vary depending on the type of residency application and regulations established by Latvian authorities.
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