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For more than 10 years, the attorneys and lawyers of the NJORD Latvian office have been providing legal support to non-EU citizens in obtaining a residence permit. During the past 8 years of functioning of a residence permit on grounds of investments real estate, banks, companies , more than 12 citizens of Russia, around 1 citizens of China and around 1 citizens of the Ukraine have obtained a residence permit. A temporary residence permit for a term of 5 years may be requested in case of purchasing Latvian real estate. A term of such a deposit shall last for at least 5 years and shall be without a right of pre-term withdrawal. Banks allow interest on invested funds. After first 5 years, when residence permit expires, it is possible to renew it for the following 5 years. In the case, the payment of 5' EUR must be paid into state budget. Member of the board council of a Latvian commercial company has the right to request a temporary residence permit for a term of 5 years. A commercial company shall be registered at least one year prior to the moment of requesting a residence permit. Salary of a foreign person as member of the board council shall equal to a double amount of the average monthly salary in Latvia before taxes for the last year i. An annual tax from such a salary will amount to approximately 13' euros. To maintain a residence permit, tax payments of a company shall annually correspond to at least euros including the abovementioned amount of 13' euros — a payroll tax. For the first incomplete year, taxes must amount to euros per month, at average. A person who has become an employee in Latvia has the right to request a temporary residence permit for a term of 5 years. Salary of a foreigner shall correspond to at least the average gross salary in Latvia for the last year euros a month in To maintain a residence permit, a company shall annually pay an annual payroll tax — approximately EUR 6' In order to obtain European Blue card, the salary should be no less than EUR 1' a month in average gross salary in Latvia for the last year multiplied by coefficient 1. European Union Blue Card - a temporary residence permit, which is issued in the Republic of Latvia to a highly qualified foreigner who is employed in the Republic of Latvia. European Union Blue Card provides to its holder and spouse some advantages. If the Blue card shall be requested upon profession, where there is lack of employees in Latvia in accordance with the list by the Cabinet of Ministers , coefficient of 1. Accordingly taxes shall decrease. Temporary residence permit for a term not exceeding 2 years shall be given, if a foreigner is a representative of a foreign merchant's representative office, and the foreign merchant shall be registered in a foreign state for at least 5 years prior to the day of submission of application for a residence permit, shall employ more than 50 employees during the last year, its annual turnover exceeds 10 million euros, and it has no tax debts. Shall a foreigner wish to reside in the Republic of Latvia as a representative of a foreign merchant's representative office, he shall submit aa business plan confirming foreign merchant's business strategy for operation in Latvia, which promotes development of manufacturing or services sector. To maintain a representative of a foreign merchant's representative office shall submit documents confirming that the foreign merchant has met foregoing business plan, and documents confirming active operation of a foreign merchant's representative office within previous year, which facilitated development of national economy of the Republic of Latvia. A temporary residence permit for a term of 5 years may be requested by a person, who has purchased interest-free State securities with the nominal value of ' euros, and has paid 38' euros into the State budget. The main advantage of this ground is that the validity period of a residence permit ID card is 5 years in contrast to all other grounds when the validity period of an ID card is 1 year. In case of the acquisition of State securities, a person does not need to come to Latvia every year in order to renew an ID card. A spouse of a foreigner, minor children including children in care and persons in trusteeship have the right to request a temporary residence permit for the same term as the main person has. If grounds are real estate, founding of a company, contribution into a bank and State securities:. The building and construction industry is characterised by progress. In these years, several complex and cost-intensive public construction projects are being realised. We advise on everything from corporate management, shares, formation procedures and general meetings to reconstruction, liquidation, and corporate mergers and demergers. News Clients of the NJORD Latvian office obtain a residence permit in Latvia on different grounds: acquisition of real estate, registration of companies, bank deposits, employment residence permit with work permit , employment by European Blue Card employment with particular benefits for highly qualified professionals , registration of a representative office and others. Download pdf. Benefits of a residence permit in Latvia. Free movement almost through all EU countries as well as through the territories of Norway, Iceland and Switzerland. No requirements to reside at the territory of Latvia not less than for days during a year unlike as in almost all other countries of the European Union. A possibility to obtain a permanent residence permit in the Republic of Latvia 5 years after obtaining a temporary residence permit. A possibility to obtain the status of a permanent EU resident 5 years after obtaining a temporary residence permit and a residence almost in any EU country. Currently, Riga International Airport is becoming one of connecting transport centres in the region. This provides direct flights to almost all major European cities and to many cities of the CIS what mainly takes only one-two hours of flight time. Real estate acquisition in Latvia. Monetary contribution into the banking sector of Latvia. Registration of a foreigner as member of the board council of a Latvian commercial company. Contribution into the share capital of a Latvian commercial company. Employment in Latvia. Purchase of interest-free State securities. Residence permit for a spouse and minor children. A residence permit on grounds of real estate acquisition in Latvia A temporary residence permit for a term of 5 years may be requested in case of purchasing Latvian real estate. Conditions: Real estate valued at least ' euros. To obtain a residence permit on grounds of real estate acquisition, it is necessary that there is one real estate object valued from ' euros, if the real estate is purchased in Riga, Jurmala, and adjacent counties. It is possible to purchase two real estates outside of the certain counties with the total value of at least EUR ' The real estate, which is vacant land, agricultural land or forest, may not be included in real estate composition, in order to obtain residence permit. In this case, the payment of EUR 5' must be paid into state budget. A residence permit in case of electing a foreigner as member of the board council of a Latvian commercial company Member of the board council of a Latvian commercial company has the right to request a temporary residence permit for a term of 5 years. For contribution into the share capital, residence permit is issued to not more than 10 foreigners, if each of them has contributed minimum amount and paid into state budget EUR 10', or ' euros and the contribution has been made into a commercial company that employs more than 50 employees and has annual turnover or annual balance exceeding 10 million euros and pays at least ' euros in taxes during a business year, but for incomplete first business year taxes paid in state and municipality budgets must reach, on average, no less than EUR 8' per month, or EUR ' into the share capital of the commercial company, which together with one or more subsidiary companies, that are registered in Republic of Latvia, employs more than 50 employees and has annual turnover or annual balance exceeding 10 million EUR. A residence permit on grounds of employment in Latvia A person who has become an employee in Latvia has the right to request a temporary residence permit for a term of 5 years. A residence permit on grounds of purchase of interest-free State securities A temporary residence permit for a term of 5 years may be requested by a person, who has purchased interest-free State securities with the nominal value of ' euros, and has paid 38' euros into the State budget. A residence permit for a spouse and minor children A spouse of a foreigner, minor children including children in care and persons in trusteeship have the right to request a temporary residence permit for the same term as the main person has. The Office of Citizenship and Migration Affairs in Riga permitted for individual cases, for example, by real estate purchase, purchase of State securities, EU blue cards and in some other cases. Citizens of particular third countries are subjected to additional assessment, when issuing a residence permit. This condition shall not apply to such foreigners. State fees 1. If grounds are real estate, founding of a company, contribution into a bank and State securities: processed within 30 calendar days - euros for one person. Other grounds: processed within 30 calendar days - euros for one person. Share this on Linkedin. Download PDF. Want to know more? The disruption claim: Legal uncertainty on the threshold of clarification? Conference 'Real Estate and Construction in the Baltics '. Contractors — The future of structural renovation of buildings. New EU Energy Efficiency rules will impact municipal buildings. NJORD Estonia: Distinctions in the calculation of the deadline for appealing against the decision on the establishment of a spatial plan in the light of the recent judgement of the Supreme Court. NJORD Estonia: Legislative amendment: employees in the construction sector receive additional protection and the responsibility of the main contractor increases. 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