Eternity Law International News Permanent resident card in Latvia

Permanent resident card in Latvia

August 3, 2020

Permanent resident card in Latvia – quite intersting issue.

Moving to the Baltic countries makes integration into the European space much easier. In addition, we are also talking about a significant expansion of prospects in business and opportunities to enjoy social and cultural benefits.

Latvia is a state with developed legislation for immigrants, which allows choosing the most convenient and suitable way of obtaining a residence permit.

Advantages of a Latvian permanent resident card

A permanent resident card in Latvia can be obtained immediately for 5 years. It greatly simplifies the procedure for confirming the acquired status.

The ID-card is not tied to the national passport; therefore, it will not be affected by the replacement of the identity document. You can get such a card in 20 different ways.

Those who have received Latvian permanent resident card have the following opportunities:

  • unlimited movement within the territory of Europe and some member states of the European Union (stay in them is allowed up to 90 days in one half of the year);
  • the possibility of issuing the same documents for each family member: children under the age of majority and spouses;
  • legal employment in Europe, including all social benefits that it may provide;
  • creation of business structures, the possibility of training in various educational institutions of all categories;
  • obtaining a driving license that is quoted in Latvia and Europe;
  • facilitated procedure for obtaining invitation documents for friends or relatives.

After 10 years of living in this Baltic country, you get the opportunity to acquire the status of a citizen.

Documents required for obtaining a permanent resident card in Latvia

To obtain a Latvian permanent resident card, you need to submit a request to the visa officer with the appropriate list of papers. You must have the following:

  • international passport (plus copies of all its pages);
  • filled application form, which contains your photo;
  • a receipt that you have paid the state fee in full;
  • a police clearance certificate from the state where the person submitting the documents has lived during the last year;
  • insurance policy;
  • documents confirming your financial support (minors – from 2592 euros annually, for adults – 4320);
  • documents confirming your place of residence.

In addition, the department of the consular service may require other documents, for example, a certificate of marriage or divorce, etc.

Types of Latvian permanent resident card and its duration

Most of people usually receive a five-year residence permit, although the standard one is for 1 year. A permanent resident card is also available to buyers who purchase real estate worth more than 250 thousand euros, with a few exceptions:

  • family members of the person with the residence;
  • persons who are students of accredited higher education institutions in Latvia;
  • those who have a visit with medical purposes;
  • owners of employment contracts for 300 thousand euros.

For businesspersons and investors the following is available:

  • the ability to issue a long-term deposit of 300 thousand euros for a period of 5 years;
  • purchase of bonds in the amount of 250 thousand euros;
  • registration of a business with investments in the amount of at least 50 thousand euros;
  • buying real estate worth 250 thousand euros or more.

In order to minimize the effort and time spent on obtaining a residence permit in Latvia, you can contact specialists, get detailed advice and professional help.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

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