Residence permits for foreign investors by purchasing an apartment in Primavera (Latvia)

 

Baltic Property Group – real estate developer of Primavera offers to its customers full advisory services and support in obtaining the residence permit in Latvia.

The residence permit of the Republic of Latvia automatically guarantees free movement within the Schengen area, currently consisting of 25 European countries.

Investment in real estate must have a value of more than 250 000.- EUR. An investor may apply for the residence permit which is valid for the period of 5 years, with an opportunity to extend this term later. There are several requirements that have to be met according to the law:

  1. The purchase contract and the Land Register certificate must be completed in the name of the person requesting the residence permit.
  2. Payment must be made in non-cash form. (i.e. bank transfer of funds)
  3. The purchaser has to pay from his/her personal funds - that is not to say that a loan or financial assistance cannot be obtained from another person or institution, but such funds would need to be in the purchaser's personal account prior to the purchase, such that payment for the property comes directly from with individual from funds available to him/her.
  4. All applicable real estate taxes must be settled.

Temporary residence permit will be available both for customer and their family members – spouses, underage children and persons that are under the surveillance/official care of such investors. Upon expiry of the term of residence permit investors and their family members are eligible to apply for the renewal.

 

Starting from 2 April 2012 upon obtaining a residence permit you will get an EU national ID card instead of the insert in your passport.

 

Baltic Property Group provides full legal support throughout the whole process. We arrange everything for the purchasing and provide assistance of the highly qualified and experienced lawyers. Lawyers will help you to collect and prepare all the documents required in order to make sure that your residence permit application is successful. We can also assist you in making non-cash payments (Bank transfers). If you have any questions – simply get in touch +37129211095, and we will answer all your questions regarding the residence permit and purchase of real estate in Latvia (Riga).

 

Upon customer’s request, we offer other services:

  1. We fully equip the apartment, including built-in kitchen, all furniture, lighting and curtains. The price for the equipment is 10000.-EUR.
  2. We rent the apartment.