The Golden Visa project was introduced to attract foreign investments and strengthen the country’s economy. While it has certain peculiarities, this project allows getting a temporary residence permit, a permanent residence permit, and eventually Latvia citizenship. Let’s discuss some advantages of investing in Latvia businesses.
The benefits of getting Latvia residence by investment
First and foremost, this is the cheapest residence by investment program that starts from €50,000. Investors will also be able to travel to the Schengen zone without the need to get a visa. What’s more, the permit will be given to the whole family and allow living, studying, and working in the country. The visa application process is also processed very quickly.
Latvia residency by investment stands out by offering recoverable investment and the lack of language tests. While it may take up to 10 years to get citizenship, it’s still possible. The permanent residence is given in 5 years.
The peculiarities and other requirements
In addition to the investment, a person needs to have a clean criminal record and good health. He will also have to prove he rented or bought accommodation. The process of getting citizenship here differs from some other countries by having an intermediate step. At first, you get the temporary residence, then the permanent one, and only later you can apply for citizenship.