5 EU countries where you can get a residence permit when buying real estate in 2021 – Market analysis and the effect of the “golden visa”

How to get a residence permit

A residence permit in Latvia for 2021 has many advantages. The main one is permission to reside in a country with a fairly developed economic system. Another important aspect is the opportunity to live freely in many European countries.

There are several ways to obtain a residence permit in Latvia in 2021:

1. Through family unification.
2. Employment.
3. Training in educational institutions of Latvia.
4. Treatment.
5. Through the implementation of religious activities.
6. Purchasing real estate for a certain amount of money.
7. Having Latvian citizenship before June 1940.
8. Investing in the development of the economic system.

Each of the above methods provides an opportunity to obtain a residence permit in Latvia legally. It is such a permit that provides the opportunity to subsequently obtain permanent residence and status as a citizen of Latvia.

The most popular method in 2021 is investing and purchasing real estate in Latvia.

Previously, such an opportunity was not provided for foreigners, but since 2010, the government introduced new rules regarding obtaining a residence permit in Latvia. First of all, the new rules are an excellent incentive for foreigners to obtain a residence permit. They were developed with the aim of attracting investment to improve the economic situation in the country after the past crisis.

Obtaining a residence permit when purchasing real estate and investing

Purchasing real estate in Latvia involves obtaining a temporary residence permit, which can later be changed to a permanent one. It is important to remember that in order to obtain a residence permit in 2021, you must purchase real estate for a total amount of at least two hundred and fifty thousand euros. This amount is the estimated value on the real estate market, which is carried out by experts in this field.

An important condition is that you can purchase real estate only from people who have:

1. Citizenship of Latvia.
2. Residence permit in Latvia.
3. Citizenship of European Union countries.

After purchasing real estate, the foreign representative is issued a residence permit in Latvia for a period of five years.

Detailed map of the European Union showing the GDP of all countries

If a person has children, this right extends to them. It is also necessary to remember that when purchasing real estate in 2021, it is necessary to pay duty contributions to the state budget. Such rules were introduced by the state government in 2014. Purchasing real estate in Latvia requires payment of five percent of the total cost of the real estate itself.

Regarding investing in the development of the country’s economy, there are two permitted methods, such as:

1. Investment of at least one hundred and fifty thousand euros in the development of your own enterprise. In this case, the total number of employees must exceed fifty persons. The estimated turnover of the organization must be at least ten million per year.
2. Investment of at least thirty-five thousand euros. The staff is over fifty people, and the profit is less than ten million a year.

Residence permit in Latvia and possible registration options in 2021

It’s a paradox, but in 30 years the Immigration Law has been reissued once. In addition, the current legislative framework is periodically expanded and provides many reasons for immigration. When it comes to immigration, there is a stereotype among residents of the former USSR. That very wealthy people have a chance to obtain a residence permit in Europe. Of course, to achieve results, funds are required, the amount of which depends on the design option.

Current design options in 2021

In practice, it is easier to first collect all the information and then choose the appropriate one. In short, there are a lot of design options. Everyone has their own path in immigration, so there is no point in talking about something abstract. It is no secret that the main consumers are citizens of the former USSR. Russians, Belarusians, and Ukrainians account for more than 80% of all requests.

If you don’t have the time or desire to read the entire text, short links are available to you.

• Investments (real estate, bank, bonds)
• Entrepreneur
• Employment
• Blue Card
• Foreign representative
• Innovative product (startup)
• Marriage

The Immigration Law offers more than 30 points to legally obtain a residence permit in Latvia

There is no point in studying immigration laws in detail. Simplicity allows you to quickly and clearly convey information to customers. For this reason, we have identified several main programs that make it possible to obtain a residence permit in Latvia in 2021:

Investments of funds:

• investments in the subordinated capital of a Latvian private bank (deposit agreement for individuals for a period of 5 years);
• purchase of real estate (regardless of status, commercial or residential);
• interest-free government bonds of Latvia (agreement for individuals for a period of 5 years);

Businessman - Entrepreneur:

• member of the board of an enterprise (company director);
• individual merchant (private entrepreneur);
• self-employed person (self-employed);
• investments in the fixed capital of a Latvian company;

Employment contract - Work:

• employment agreement (contract) or enterprise agreement;
• a manager or specialist transferred within an enterprise - in law since 2021;
• an intern assigned within the enterprise - in law since 2017;

Obtaining a residence permit in Latvia - Blue Card of the European Union - List of in-demand professions:

• blue card of the European Union / blue card of the European Union ( EU Blue Card
  );
• list of in-demand professions in Latvia - list of necessary workers (Latvian. Profesiju saraksts)

Please note that the list of 237 in-demand professions developed by the Ministry of Economy of Latvia was approved by the Cabinet of Ministers on February 20, 2021.

Obtaining a residence permit in Latvia “Foreign Representative”:

• representative of the representative office of a foreign merchant in Latvia;

Startup company at the development stage:

• development of an innovative product (start-up company) - in law since 2021;

Family reunification in Latvia - Marriage:

• marriage with a resident of Latvia;
• marriage to an EU citizen;

Documentation

In order to obtain a residence permit in the Republic of Latvia in 2021, you must provide the Migration Policy Department with a package of documents consisting of:

1. Passports.
2. Receipt forms.
3. Photos.
4. A certificate indicating the absence of a criminal record in the territory of the native country and the State of Latvia.
5. A document confirming payment of duties.
6. Certificate confirming the right to settle.
7. Consent of the owner of the property where the person is settling.
8. Premises rental agreement.
9. A certificate indicating that a person has the means to live in Latvia.

This package of documents is standard. But, depending on the purpose for which a person wishes to obtain a residence permit in Latvia, it may be necessary to provide additional documents, such as:

• Contract for the implementation of treatment in the Republic of Latvia;

• Documents confirming relationship with Latvian representatives. This document is relevant only for people who want to obtain a residence permit on the basis of kinship (by recognizing offspring);
• For students who come to Latvia for the purpose of studying, it is necessary to provide an agreement with the educational institution;
• Labor contract for foreigners working in the state;
• Documents confirming the fact of acquisition of real estate;
• Certificates of financial status.

All of the above documents are required when applying for a temporary permit.

Family reunion or marriage

A representative of another state who decides to marry a Latvian citizen (or moves to the country to live with relatives) can apply for a residence permit. Immigrants who move under the family reunification program are issued temporary or permanent residence permits, at the discretion of the government and depending on the circumstances.

Documents for registration are submitted to the ministry. It is possible to submit an application and complete the application form for a foreign citizen in Russian, English, French or German.

A foreign visitor who marries a citizen can apply for a permit for a period of 1 year. After which an extension for 4 years is possible, and if the marriage continues and the foreigner does not violate the laws of the country, then he can obtain a permanent residence permit. In the event of the death of a spouse (Latvian citizen) or divorce before the foreigner receives a permanent permit, the extension is cancelled, a new temporary residence permit is not issued, and the current one is cancelled.

Minor children, parents and other family members who are dependent on a foreign citizen who has married a resident of Latvia have the right to receive a temporary or permanent residence permit in Latvia.

Financial expenses

The Government of Latvia provides for payment for all necessary procedures. Their detailed description and cost are presented in the table below.

When receiving a temporary residence permit, a person will need to pay from forty to one hundred and eighty euros for its registration. For a permanent permit, the fee ranges from thirty to one hundred and seventy euros.

Process of obtaining a residence permit

The process of obtaining a residence permit itself involves going through such basic stages as:

1. Submitting the necessary documentation to the migration policy department. If a person resides outside Latvia, he can make a similar request to the diplomatic mission of that state.

   The building of the Latvian Embassy in Moscow

2. Review of submitted documents. On average, it takes five business days for a temporary permit. Review of documents for obtaining a permanent visa takes ten days.
3. Getting permission.

Immediately after receiving a residence permit, a person is also issued medical insurance. Also, in addition to the medical document, the person receives a certificate indicating the absence of a disease such as tuberculosis. A permit can safely be called a card issued on the territory of Latvia.

This plastic document is a prototype of a passport and has all the personal data of a person, including his photo.

A residence permit requires annual confirmation of this status. The procedure must be carried out no later than a month before the end of the previous period.

To confirm, you must submit documents such as:

• International passport;
• Medical insurance;
• Payment of all taxes for the previous year.

Failure Cases

It is not always possible for a person to easily obtain a residence permit. The government of the state has developed basic rules and grounds that imply refusal to obtain permission.

The main ones are:

1. Providing an invalid travel document.
2. Providing false documents.
3. Insufficient level of material support.
4. Fictitious marriage.
5. Fictitious act regarding adoption.
6. Violation of the country's migration policy.
7. Military service in another state.
8. The disease is dangerous for society.
9. Entry ban into Schengen countries.

Registration procedure

Applying for a residence permit involves going through a number of stages. You need to start preparing to submit your application by collecting a package of documents. It is submitted to the consular office of the state located on the territory of the country of which the status applicant is a citizen.

In some cases (when the applicant is in the Republic of Latvia), the application is submitted to the Office authorized to resolve migration issues.

Documents are reviewed by the Department of Citizenship and Migration Affairs. If a positive decision is made on the application, the foreigner must personally obtain permission and issue an identification card. Before registration, fingerprinting and photographing procedures are carried out.

For Belarusians

The popularity of the Republic of Latvia for migration of Belarusians is due to the wide opportunities that a residence permit provides (unimpeded movement within the Schengen countries, access to education and employment, etc.) and the presence of a common Soviet past, which makes communications with part of the population easier.

The process of issuing cards for Belarusians is identical to issuing permits to representatives of other states: citizens of the Republic of Belarus must be able to confirm that they have a legal purpose for moving and sufficient financial resources.

For Russians

Latvia is a popular option for relocating Russian citizens: representatives of the Russian Federation are attracted by the location of the state, a large number of Russian-speaking population, opportunities for purchasing real estate and favorable living conditions.

The republic is distinguished by its transport accessibility (air, rail and road connections). A residence permit in Latvia for Russians is issued if there are one or more reasons for moving.

Russians can move to the Baltic state to do business, work, study, reunite with family, etc. Many Russian citizens purchase real estate: real estate is considered a good investment and ensures that citizens receive a residence permit of the Russian Federation.

Persons who had Latvian citizenship before 1940 can apply for a residence permit (the method is also available if the applicant’s parents had citizenship). Please note that obtaining a card in Latvia is one of the easiest options for Russians in the European Union.

Required documents

To apply for a residence permit, the applicant must prepare a package of documents in accordance with the established list. Regardless of the basis on which the applicant applies for a card, he needs to submit the following documents for consideration:

• application form of the established form;
• certificates confirming the availability of sufficient funds to live in the country;
• foreign passport and copies of its pages;
• color photographs 3.5 by 4.5 cm;
• medical examination results and insurance;
• copies of a general passport;
• a certificate confirming that the applicant has no criminal record.

When submitting an application, the applicant must be able to confirm that he has a place to live in Latvia. The confirmation may be a lease agreement or the purchase of residential real estate, etc.

Depending on the purpose of the move, the applicant must additionally provide documents that confirm that he has grounds for living in the country (employment contract, marriage certificate, certificate of enrollment in an educational institution, etc.).

Production time and cost

The process of reviewing documents and making a decision on the application takes 30 days (in some cases the period may be reduced). Registration costs consist of a number of components. The cost of processing the application is 100 euros (if processed in an accelerated manner, the cost increases).

Additional fees are payable when purchasing real estate. The processing fee for registering a permanent residence permit is 35 euros, temporary - 45 euros.

Validity period of the residence permit

In most cases, the card is valid for 1 year (for 5 years, a residence permit is issued to investors, for the period of study - to persons who came to receive education). The expiration date of the card is indicated directly on it.

Renewal procedure

To renew the permit, its holder must contact the Office of Citizenship and Migration Affairs no later than a month before the expiration date.

For a person who has received a residence permit in Latia, it is mandatory to provide a bank account statement (confirming the availability of funds for further residence), a foreign passport, a medical policy, a receipt for payment of a fee and a certificate of no tax arrears.

The new card must be picked up before the expiration of the previous one.

Why might they refuse extradition?

Foreigners who provide an incomplete package of documents may be refused a residence permit on the territory of the state. The reason for refusal may also be the presence of diseases that pose a threat to public health.

When submitting an application on the basis of marriage registration, they refuse to issue it if it is revealed that it is fictitious. Applicants who, in the opinion of authorities, pose a risk of illegal immigration may be rejected.

Possible reasons for refusal also include:

• providing false information;
• submission of certificates and supporting documentation obtained illegally;
• submission of an invalid foreign passport;
• whether the applicant has a ban on entry into the countries of the Schengen zone, etc.

Possible reasons for cancellation

In some cases, it is possible to revoke a residence permit. The most common reasons are:

• identifying the fact of providing false information and invalid documents;
• entry of a person into military service in a foreign country;
• departure for permanent residence to another state;
• existence of debts on taxes and fees;
• carrying out labor activities in the absence of the right to employment;
• assistance to a foreigner in illegal entry into the territory of the Republic, etc.

Cancellation of a residence permit also applies to family members of the status holder if their stay on the territory of the state is connected with his own (for example, if the cards are issued on the basis of family reunification, investment, etc.).

Thus, having a residence permit in Latvia makes it possible to live in the territory of the European Union and in the European Economic Area, as well as enjoy a number of benefits that are available to holders of this status.

If the requirements for the procedure are met and if the applicant has the opportunity to confirm that he has sufficient grounds to move to the country, paperwork does not cause any particular difficulties.

If you have the status of a permanent resident of the EU and fulfill a number of conditions, after a few years you can apply for citizenship.