The recent amendments in the immigration policy at Latvia have made it pretty much possible to get Residence permit in Latvia, immigration in Europe based on employment and investment criteria. With effect from 1st of July 2010 the Republic of Latvia allows obtaining a residence permit on new possibilities. An intending migrant can avail a TRP temporary residence permit in Latvia for a period of 5 years by :-
Starting a business or enterprise in Latvia on a minimum investment of 36,000 EUR and a paid tax of minimum 28,000 EUR
Opening a subordinated deposit in a Bank at Latvia or Latvian origin with a minimum deposit of 300,000 EUR for a term more than 5 years
Buying real estate in Latvia for a minimum 1,43,000 EUR in Urban areas such as Riga or 72,000 EUR at any rural area
The Temporary Residence Permit in Latvia makes it possible for any overseas migrant to stay at Latvia for a fixed duration of time. The visa is attached with a certificate on LTRP along with an identity number. The residence permit in Latvia allows the visitor spend good enough time to establish a business or seek employment. During the validity of the Latvian Temporary Residence Visa the migrant can have unrestricted access to Schengen countries and stay at one for a period of 90 days. The Temporary Residence Visa is meant for the immigrant lot that seeks business opportunities in not just Latvia but the entire Schengen Zone. The Residence permit in Latvia, immigration in Europe is especially unique for it lets the investor to make passive investments at the entire Schengen region along with Latvia. The business investment allows the immigrant to avail the convenience on travel without any strict requirements on physical residence.
The application process on Temporary Residence Visa can be completed in just a span of 30 days from the date of submitting the application along with the documents. The temporary visa however requires a good many documents to be submitted at the time of submitting the application.
A passport size photograph
Passport copy
Duly filled application form for the residence visa
Educational certificates
Certification on Litigation related issues if any
Medical certificate stating that the applicant doesnt suffer from Tuberculosis or any similar epidemic/pathogen
Documents that confirm any place of residence at the Republic of Latvia
Salary documents that confirm that the applicant meets the average wage criteria in the Republic of Latvia, which generally falls on LVL 398
Latvia offers the immigrant population a bundle of benefits similar to any other European nation or city. The immigration policy is such that the investors or migrants can make business investments or seek employment under the Temporary residence visa. A stay of a minimum 5 years allows the immigrant to first settle down in Latvia and then make efforts on a permanent residency status.