Documents for RP based on investment in Latvian Credit Institution

If you have enough finance in your bank account you can make it work on you. The documents for a residence permit in Latvia can be submitted if you wish to obtain a residence permit in the Republic of Latvia as a person who has subordinate liabilities toward a credit institution.

You shall present a valid travel document admitted in the Republic of Latvia and submit the following documents:

• a definite sample form for a residence permit request and photography for it; 
• a document confirming the necessary subsistence. In 2018 it is 430 EUR per month;
• a document confirming the envisaged place of residence in the Republic of Latvia, for example, rental agreement;
• policy statement;
• health insurance policy;

a document issued by the credit institution of the Republic of Latvia, which confirms that the foreigner has subordinate liabilities toward the credit institution of the Republic of Latvia at least in the amount 280 000 euro and the transaction term is at least five years. The financial investment can be made in a foreign currency.

and should do state duty payment. Review of documents submitted for requesting of a temporary residence permit within 30 days cost 150 EUR, 10 working days - 300 EUR, within 5 working days - 450 EUR.

Upon the receipt of the first temporary residence permit, the applicant must pay 25 000 euro into the state budget (the bank details are to be given in the decision on granting the temporary residence permit). From 01.01.2018 foreigners will have to pay a tax of € 5,000 to the state budget once they apply for a residence permit (after first 5 years of residency).

Residence permit based on mentioned reason also give rights to work without limitations.