EU Schengen Residency

Upon studying the most effective ways to acquire a residency program in Europe Affinitas has recently launched its immigration program to the country of Latvia part of the Schengen Area. All the applications are handled locally by our Riga office.

We have analysed other options offering similar results: Cyprus, Spain, Portugal, etc. but we found that Latvia presents the lowest and fastest entry value into the Schengen Area. Latvian authorities are swift in their decisions and the bureaucratic burden acceptable as compared to others.

 

EXCLUSIVE FOR AFFINITAS CLIENTS

As of today the most cost effective way to acquire Schengen Residency is via acquisition of shares of an existing business. Affinitas has hand-picked a number of good-standing and properly audited Latvian businesses in which investors can acquire shares for a minimum of 45,000 EUR.

For the people interested in the real estate option: the real estate market in Latvia is stable and slowly appreciating as opposed to other markets, notably Spain, Greece and Cyprus whereby financial institutions still have a high stake in the real estate industry and therefore there are questions marks about the viability of the sector long-term.
(For whoever is interested in additional data, following is a link to a report by a Colliers International one of the leading real estate companies globally, summarising the real estate industry in the entire Baltic Republics: http://www.liaa.gov.lv/files/liaa/attachments/ober-haus_market_report_baltic_states_2013.pdf)

shenghen latvia

Investors interested in securing a permanent residency permit in Latvia have four (4) choices available:

  1. Acquisition of shares in an existing company for a minimum value of 45,000 EUR;
  2. Acquisition of a real estate asset for a total value of 250,000 EUR;
  3. Company formation;
  4. Financial investment in a Latvian credit institution for a minimum value of 285,000 EUR.

Our personnel in Latvia will be able to organise your way to a Latvian permanent residency regardless of which option you choose to pursue. We have a list of available real estate and investment opportunities qualifying for the immigration program.
Upon your decision to pursue our immigration program we will be issuing a SCHENGEN VISIT VISA for you to come to Latvia, view apartments and start your immigration process.

    Please note the following:
  • Affinitas personnel in Latvian are attorneys at law, regulated under the local Bar Association and strictly adhering to Latvian Law.
  • All real estate transfers are made via specifically opened escrow account set up for a specific real estate transaction.
  • Our fees include the real estate appraisal from an independent valuator. We welcome clients to bring their own valuator if deemed necessary.

PLEASE BEWARE of companies or single parties offering similar services but unregulated, we were notified of few real estate transactions in which the valuation of the real estate has been manipulated to the detriment of the investor, especially outside the designated Latvian metropolitan areas.

shenghen residency

Please START YOUR FREE ASSESSMENT HERE immediately and identify the option that best suit you. Upon the submission of your data we will contact you within 24 hours.

DETAILS ABOUT ALL SCHENGEN RESIDENCY OPTIONS ACCORDING TO LATVIAN LAW


ACQUISITION OF SHARES IN EXISTING LATVIAN COMPANY

Affinitas has selected a limited number of good-standing Latvian companies in which ONLY OUR clients can exclusively purchase shares.

The minimum value to invest is 45,000 EUR inclusive of all necessary legal fees. The investor will be entitled to dividends from the company based on performance of the same.

Upon acquisition of the shares according to Latvian Law we will start the residence permit application. To the investors' convenience both the acquisition of the shares and the residency application don't require physical presence in the country. Upon issuing of the residency permit the investor will be required to reach the closest embassy or consulate of Latvia.

As of now and pending any changes to the existing law this is the MOST COST EFFECTIVE way to acquire a valid Schengen residency throughout the whole Europe.

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REAL ESTATE OPTION

    In order to be eligible for residence permit your property (or properties) must comply with the following requirements:
  • Be worth at least EUR 250 000 ($316,762 USD approximately);
  • 5% payment based on the value of the property to be paid into the eligible state fund;
  • Be acquired from a person legally residing in Latvia via a bank transaction;
  • Not to have any unpaid taxes presently or at any other time (if owned by you for more than a year);
  • Cadastral value (legal estimate value) of the property should not be below EUR 80 000 or failing that, to be above market value as estimated by an independent surveyor.
  • The eligible property can't be simple land or land with forest;

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COMPANY FORMATION OPTION

Note: details may vary slightly depending on a form of a company and number of members of the board

    In any case formation of a company requires:
  • Standard form application;
  • Association decision/agreement;
  • Articles of association;
  • Bank account;
  • Proof of transfer of statutory capital to an account above;
  • Notarised power of attorney to a person submitting documents (or inclusion of said power of attorney into association agreement);
    In order to be eligible for residence permit your company must comply with one of the following requirements:
  • Have a capital of at least USD 200 000;
  • Have a capital of at least USD 50 000, employ no more than 50 people, have a turnover of no more than USD 14 000 000 and paid at least USD 40 000 in taxes within a year

Or, if an individual plans to apply for a residence permit as an official of an existing company without making an investment, such company should be operating for at least one year and its operation should give economic benefit to Latvia.

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FINANCIAL INVESTMENT OPTION

    In order to be eligible for residence permit your investment must comply with the following requirements:
  • Be at least USD 400 000 (LVL 200 000) in the form of subordinated bonds or a loan;
  • Have a term of at least 5 years;
  • Not to be subject to early termination or redemption.
  • Investment may be made in foreign currency in the amount equivalent to one specified above.

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