Latvia Temporary Resident Permit(

Latvia Temporary Resident Permit(Latvia TRP) by investing in Real Estate

If you have obtained One or more immovable properties

in Riga, Riga planning region or any other republic city amounting to at least LVL 100000 (Euro 143000) or

One or more than one immovable properties in regions other than Riga, Riga planning area or other republic cities for an amount of at least LVL 50000 (Euro 72000), you can file for the TRP once the effects have been transferred in the deal and the ownership rights have been entered in the Land Cadastre.

The property deal to be effected must be post July 1 2010.The funds must be transferred from your bank account to the seller’s account, or through an escrow account. There should not be any tax debt on property in Latvia. It is advisable not to mortgage the property in order to enter a real estate deal. You must furnish proofs of real estate tax payments.

It takes around 10 days to prepare necessary documentation for executing the purchase and registration deal and endorsement into the land cadastre. State authorities charge a fee of 2 % on the value of registration.

Our Latvian associates can assist you in locating suitable properties, finding tenants, managing property, provide legal support and take care of the property proceeds when you are out of Latvia.

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Resident Permit An overview

t Permit | An Overview

The Latvia Temporary Resident Permit (LTRP) is a basically a type of certificate that offers an overseas personnel the right to stay inside the nation in question for a fixed duration. In the form of a visa, this document is pasted onto the passport of the visitor even as it shows the name and surname of the owner, and also the assigned identity number.

The permit offers the visitor the right to spend a longer period of time inside the country. The holder can have unrestricted stay within Latvia during the validity of the Latvia TRP. The TRP holder also have unrestricted movement within any of the Schengen countries and stay inside any of the Scheengen nations for up to 90 days. It also helps one make unrestricted and free border movements between the EU and the non-EU nations.

In other words, the offered Latvia TRP is meant for applicants who are interested in having an immigration status that lets them do a business in Latvia as also offer all travel related benefits in the Schengen Zone. Latvia TRP options are unique in that one even gets the permit by making passive investments in Real Estate or subordinate capital/financial instruments of a Latvia based financial institution.

So one may take Latvia TRP for doing serious business across the whole of the Schengen and the EU Zone, or simply for the purpose of having a visa that will provide him travel convenience, without strict requirements, in terms of physicalresidency in Latvia. The LTRP application process is smooth with the processing time being just 30 days or even less–from the date the application is duly filled and submitted along with all the completed documentation formalities.
 

Schengen Zone Countries

Holder of the LTRP is permitted visa free travel through the Schengen zone countries. They can also live in any Schengen zone country for up to 90 days. The countries which fall in the Schengen Zone are Austria, Belgium, Czech Republic, Denmark, Estonia, Greece, Hungary, Iceland, Italy, Finland, France, Germany, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.
 

Latvian Temporary Residence Permit Validity

Latvian Immigration Department decides about the duration and issuance of the permit. Generally, post approval, the applicant would be given a renewable, multiple entry LTRP for a span of five years. The holder is, however, required to renew the permit after every 12 months period, and up to five years from first approval.

If the applicant wants to renew it, it should be done 10 weeks before the expiry day, while he is still living in the Latvian Republic. The applicant will gain eligibility to apply for the LPRP after five year stay in the Latvian Republic as a Temporary Residence Permit holder. Our Latvian experts and lawyers can manage the extension process with least inconvenience to our clients. 
 

Guarantee for getting the Temporary Residence Permit

We believe in providing authentic service. Providing guarantee for any permit or visa is not possible for any immigration provider, and we are NO exception. We don’t believe in giving false guarantee but can assure of giving an unswerving immigration service, along with an updated knowledge on the Latvian Permit. With an updated knowledge, authentic and well prepared documents and ace advice, along with having best of the Latvian lawyers and consultants as associates, Stallion Immigration ’s immigration experts would try their best to reduce any chances of denial.
 

What if your application is refused!

If somehow the application is rejected, an appeal would be made against the refusal decision and all the necessary steps would be taken. Our lawyers would leave no stone unturned in convincing the Latvian Immigration Department to issue the permit on the basis of your status. If by any chance, the application faced rejection even after making an appeal, the applicant would be given a Refusal letter issued by the Latvian immigration agencies or local Embassy.

It will contain the reasons as to why the applicant has NOT been granted the permit. We would require the letter along with the original refusal letter issued by the Latvian Embassy. The service fee would NOT be refunded back without re-applying and submitting the mandatory documents after the refusal.

 

Optional Support Services through our Latvian associates for our TRP clients

 Services related to purchase and sale of Latvian businesses and properties

·       Helping in liaison with Latvian government agencies, real estate agencies, service providers including accounting and law firms

·       Offering marketing strategy on successful entry into Latvian market and helping in preparing a sound business plan

·       Human resource planning including hiring and training

·       Learning Latvian language

·       Planning & managing events in Latvia

·       Planning & establishing outsourcings businesses in Latvia  

 

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Investments in Subordinate Capital

Latvia Temporary Resident Permit (Latvia TRP) through investments in Subordinate Capital

This is the shortest and the quickest way of obtaining Latvian TRP. You just need to make a financial investment in tune of LVL 200000 (Euro 286000 or around INR 2 crore) in subordinated capital of a credit institution (debt or debentures) or a term deposit.

The deposit term is irrevocable 5 years

Investment carries an annual rate of interest at 5 %

Interest on the investment is transferred half yearly

The agreement signed is irrevocable and you don’t have privilege of terminating or carry out premature withdrawal of this deposit   

Investment

     Bank account can be opened with help of valid passport or the national Identity document. Migrants from countries with reciprocal visa agreements must have a passport with entry permission stamping. The institution also requires evidencing the source of funds and record of the nature of transactions.

This is an accelerated mode of attaining Temporary residence permit of republic of Latvia as the whole formality is completed within a couple of days and as the institution issues statement confirming of opening of deposit and completing other necessary formalities, you can immediately apply for TRP for yourself and tour kin.

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Benefits of Latvia Temporary Residence

Benefits of Latvia Temporary Residence Permit (TRP)

The holders of Latvia Temporary Residence Permit (TRP) enjoy several benefits with these being the key ones:

·       Unrestricted movement across the Schengen Area

·       Being member of the EU and Schengen Treaty, Latvia offers an incomparable advantage to the permit holders of enabling them to gain freedom to an unrestricted movement in the EU member countries and staying there without needing to obtain a visa.

·       Settlement opportunities to other EU countries

·       Migrants aspiring to move their set-up to any EU member countries in future will stand a better chance of making it successfully and on priority

·       Long duration of residence permission to stay in the nation

·       Latvia TRP has a validity of 5 years permitting a stay in the country, through the extent of validity of the entry permit.

·       Multiple entries into this Baltic state          

·       Once you obtain this visa, you are eligible for multiple entries into Latvia and other EU states (up to 90 days within a six month period).

The TRP holder can also stay full time in Latvia during the TRP validity period.

·       No specific residence fulfillment requirements

·       You don’t need to reside in Latvia for a relevant period in the nation to retain your TRP status. Extension is granted and can be maintained with least formalities. Extension formalities are very easy and simple to meet for holders who have met the applicable terms and conditions of TRP issuance of one of the three possible options.

·       Eligibility to file an application for residency

·       Grant of TRP makes the holder eligible for status and the rights of a resident

·       Advancing onto the citizenship of Latvia

·       On the successful completion of the TRP, and subject to fulfillment of the criteria, the Resident visa holder has an option to permanently make Latvia his home and become citizen of the Latvia

·       Bring your family along

·       TRP allows your family to accompany you to this Baltic state and enjoy similar facilities as you while being in the country

·       Unrestricted freedom to do business and investments in Latvia

·       As a TRP holder, you have an unrestricted access to business and investment opportunities in the nation.

·       TRP process can be initiated and finalized without personal visit

·       For applicants short of time or not having appropriate visa to visit Latvia or other Schengen countries or Europe or past visit visa refusals, getting Latvian TRP under one of the 3 permitted processes is possible and feasible. One need to and may fly into the nation only after entire TRP process has been completed.

·       Geographical location provides opens up more business opportunities

·       Perfectly positioned between the EU and the CIS, one can NOT ask for a better affordable European location. The facet is supreme from the perspective of international trade and warehousing facilities, hence paving way to more business growth opportunities than ever. Geographically well located warehouse synonyms growth for business! Exporters can use this warehouse base to explore and grow business throughout Europe and CIS. Industries related to manufacturing and BPO can use affordable human resources to promote their business interests in Europe and the CIS countries.

·       NATO & EU membership
Latvia is a fully-fledged NATO and EU member with a politically stable ambiance. What that means is no disturbances, just a calm background to have a peaceful life in store for you and your kin! This is very important for long term stability and growth of business.         
 

·       Low cost & ease of doing business
Latvia has amongst lowest cost of doing business in Europe and has an impressive worldwide ranking of 21 in terms of ease of doing business. The country provides nice tax benefits for start-up businesses. All it needs is a smart businessman in you to take advantage and starting point is making an application for and getting Temporary Resident Permit (TRP)!
 

·       Low cost of living
Latvia has amongst lowest cost of living amongst the European nations, thus giving you more reasons to make the country your long term home and/or an important base for expanding your long term business expansion goals.

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Latvia Culture & Literature

Latvia Culture & Literature

The Republic of Latvia boasts of a unique culture and literature.The people of this beautiful Baltic State are strongly rooted to their soils even as they also side-by-side seem to be much influenced by the neighboring Baltic states of Europe—especially Lithuania.

Latvian folklore and the natives play the most decisive role in shaping and defining the distinct culture of the country. The Latvians boast of an impressive heritage of long-established folklore--more so folk songs. To their credit, they have more than 1.2 million texts besides 30,000 melodies of folk songs, with a history of more than 1000 years.

Earlier, the Latvians were atheists. However, post the arrival of the Christianity religion on the Latvian shores, almost the entire populace of the nation has become firm believers of Christianity. Interestingly, the many Christian customs and rituals currently followed in the country are closely related with some of the widely practiced, centuries-old customs of the nation.

The culture of the country also seems to be much influenced by the Latvian ancestors who were chiefly fighters and sang ballads during wars and battles. These songs are still a part of the unique Latvian culture even as these mythical songs have an exclusive history to tell.         

Latvia Culture

The nation has also produced some renowned painters with Janis Rozenntals being the most famous one. The language of the country, the Latvian, is one of the two surviving Indo-European languages in this part of the world. Nearly 50% of the total populace of this North European country speaks it as its primary language—the reason being there exist a plethora of dialects across the western and the eastern regions of the nation.

Significantly, all the seven big cities of the country have more Russians vis-à-vis the Latvians. The people are usually good travelers with close to a quarter of a million of them having moved overseas--mainly to the top world destinations of Canada, the US, Germany, Australia, and England. The dietary habit of the Latvians is not much different from the one found across its neighboring nations. While dairy products, eggs, potatoes, and grains are consumed with much enthusiasm, smoked foods are also much favored across the country.

  

Latvia Literature

Literature plays a key role in shaping the culture of the country. Unwritten Latvian literature--the basis of which is superstitious facts and stories is a unique facet of the Latvian literature which is rather rich. During 1888, the epical poem, called Lacplesis--which means the Bear Slayer, and which seems to be inspired by traditional folk stories--attracted wide-scale popularity even as it marked the herald of the literature of the country.

Janis Rainis is the most important personality in the Latvian literature even while the written verses of the country, by and large, are brief and lyrical.

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