GENERAL INFORMATION

Purchasing real estate in Latvia is a straightforward path to obtain a temporary residence permit.

This opportunity not only allows you to invest in a growing market but also provides the benefit of living in and exploring Latvia and the Schengen Area.

BENEFITS

  • Residency: You can legally reside in Latvia.
  • Schengen Area Access: You can travel within the Schengen Area without a visa.
  • Renewal: The TRP is usually granted for a period of up to five years and can be renewed.
  • Family Members: Your family members (spouse and children) can also apply for TRP based on your permit.
LS 42
01

ELIGIBILITY REQUIREMENTS

  1. Real Estate Purchase: You need to acquire real estate in Latvia. The minimum investment is:
    • In Riga and other major cities: At least €250,000.
  2. Property Conditions: The property must meet certain conditions:
    • The cadastral value should be at least €80,000.
    • The property should not be agricultural or forest land.
  3. Taxes and Fees:
    • You must pay a state fee of 5% of the property value.
    • Other applicable property taxes and notary fees.

APPLICATION PROCESS

  1. Purchase Real Estate: Find and purchase eligible real estate in Latvia.
  2. Document Preparation: Gather the necessary documents, including:
    • Proof of property purchase.
    • Proof of payment of state fee and other taxes.
    • A valid passport.
    • Health insurance valid in Latvia.
    • Proof of sufficient financial means to support yourself in Latvia.
  3. Submit Application: Apply for a TRP at the Latvian Office of Citizenship and Migration Affairs (OCMA) or at a Latvian embassy/consulate if you are applying from abroad.
  4. Processing Time: The processing time for a TRP is generally around 1-3 months.
  5. Receive TRP: Once approved, you will receive a temporary residence permit card.
content 13

Latvia Sotheby’s International Realty

Our professional team of sales experts and highly skilled lawyers will be your trusted partners in the process of acquiring a residence permit in Latvia:

  • Advising and offering the best property for your needs in Latvia;
  • Providing legal support on the real estate purchase process;
  • Providing legal advisory and documentation formation for the residence permit submission;
  • Providing support with adding your new property to the rental market for short or long term leases.
content 20 2

FIND OUT HOW TO OBTAIN YOUR GOLDEN VISA TODAY!

For any questions regarding residence permit in Latvia and Golden Visa Service please reach out to Latvia Sotheby’s International Realty Sales Expert!

Contact us