How To Get Residence Permit By Real Estate – Residence Permit by Buying Apartment

Getting A Permanent Residence Permit

The several benefits of holding a Latvia permanent residence can maybe explain the rising volume of PR applications being obtained by immigration office each year. Though the processes and needs incorporated are never clear and definite, many resident expats in the land of smiles are ready to gamble their amount, effort and time to secure a permanent apartment status in Latvia.

Of the kinds of investment that qualify for a residence permit buying apartment, real estate investment offers possibly the finest security and liquidity while even being the most powerful manner to obtain the approval from the office of migration and citizenship affairs having the biggest approval rate.

In order to get a residence permit by buying apartment in Latvia for five years, with a chance to enlarge this term later, there’re many needs that need to be met as per the law:

Some vital requirements that need to be met as per law

  • The property should be obtained after September 1st and at moment of filling the residence permit purchasing property In addition to this, you should get the certificate form from the land register that confirms your title.
  • The total cost of the buy should not be less than 250 000 EUR.
  • The buy contract, as well as the land register certificate, should be finished with the person name requesting for the Residence permit by buying property.
  • The cadastral values of the Property cost in Latvia should be higher than 80 000 EUR.
  • Immigration law says that property must have been obtained from a legal seller or natural seller registered in the Latvia Republic, that who is a citizen of Latvia, a citizen of European Union, a non-citizen of Latvia, or other foreigner who’s staying in Republic of Latvia with a valid Residence Permit by purchasing property, if a foreigner has obtained the property from a person that is not in aforementioned list, then maybe the application for residence permit will be denied.
  • Property prices in Latvia are made in non-cash type.

The buyer has to reward from his or her personal funds that’s not to state that a financial assistance or a loan can’t be availed from institution or from another person, yet such funds would be in buyers personal account prior to buy, such that investment for the real estate comes directly from the individual from funds convenient to him or her.