Get Residence Permit By Purchasing Real Estate – Most Appropriate Choice For Foreigners

Practically the great choice is investing in Latvian properties. In a case of investment on property, the provisions vary and foreign only has to reward property tax. Additionally, it’s not compulsory actually to reside in Latvia so that the real estate may be leased, and so the return of money is possible. 

Foreigner normally opts to get Residence permit by buying a house in Latvia. Often the apartment is obtained as a joint buy, particularly in the cases of a family with over 17 to 19 years old children. Migration law of Latvian offers that juvenile children and spouse are entitled to Getting residence permit buying apartment along with main investor and they don’t need to make an extra payment.

The procedure of getting a Residence Permit buying real estate is relativity difficult and needs knowledge of the procedural matter as well as local legal. Baltic legal attorneys are very well experienced in the sector and will give constructive consultations with respect to select the best manner of investment and to take care of arranging all the needed documents ahead submitting them into migration office.

Get residence permit by buying apartment – vital conditions

In order to get temporary Residence permit by purchasing an apartment in Latvia, foreigners need to purchase a property, for instance, a house in the city, apartment in the country, summer dwelling house nearby seaside etc.

The investment should meet following conditions to get Residence permit by buying real estate:

  • The amount of transactions should be at least 250 000 EUR, and the overall official cadastral values should be at least 80 000 EUR.
  • The transactions are closed after September 1st.
  • The foreigners don’t need to have and have never had any property tax debts.
  • Property obtained from legal seller must be registered in Latvia Republic or natural seller that who is a citizen of European Union, Latvian non-citizen, Latvian citizen.
  • After getting Residence permit buying house, the property must be registered in the land register office of Latvia.

Where else it’s possible to get a Residence Permit purchasing apartment in Latvia?

Buyers can get a residence permit in this place for five years by buying a property. After getting it, it needs to be prolonged each year by signing the affirmative documents that affirm the real estate rights in Latvia, if you’ve obtained a residence permit by paying in the property. In addition to this, not only buyer can get the residence permit yet along with his family as well: Under-aged kids, Spouse and persons, the buyer takes care of.