Obtaining a residence permit based on the acquisition of real estate is one of the most popular methods based on investment to obtain a Latvian residence permit. According to statistics provided by the Office of Citizenship and Migration Affairs, in 2012 alone 2,435 foreigners applied for a residence permit based on the acquisition of real estate in Latvia, and in 2013 - 3,085 foreigners.
From the types of investment eligible for a residence permit, real estate investment provides the best liquidity and security, while also being the most effective way to obtain approval from the Office of Citizenship and Migration Affairs, with the highest level of approval.
To obtain a residence permit for 5 years in Latvia, with the possibility of a later extension, some requirements must be met by law:
Property must be purchased after 01.09.2014. And at the time of applying for a residence permit, you must have a land registry certificate verifying your title;
The total purchase price may not be less than EUR 250 000;
The contract of sale and the land register certificate must be completed in the name of the person applying for the residence permit;
The cadastral value of the property (as well as the property tax assessment in the US) must be greater than EUR 80,000.
Immigration Law states that real estate should have been purchased from a legal or natural person registered in the Republic of Latvia who is a Latvian citizen, non-citizen of Latvia, a citizen of the European Union or another foreigner residing in the Republic of Latvia with a valid residence permit who are not on this list, the application for a residence permit is likely to be rejected.
The buyer has to pay from his funds, which means that the loan or financial assistance cannot be obtained from another person or institution, but such funds must be in the buyer's account before the purchase, for example by paying the property directly to the individual.
All applicable property taxes must be paid.
Payment must be made in cash.
No comments:
Post a Comment