Are You Keen to Get Migration Permit to Latvia
Migration Permit is basically a certificate which allows a foreigner, the right to live in a country, here Latvia, either temporarily or permanently. It provides him the right to work, study, live and/or to carry on business in the Baltic region. It facilitates free entry to any of 25 Schengen countries after obtaining the Residence Permit of Latvia. The aspiring migrant can freely do a business and also visit the Schengen countries without obtaining any extra visa for it.
A candidate–who wishes to migrate to the Baltic nation, under a temporary residence permit–is required to submit a valid one year health insurance policy and a health certificate from a Latvian health institution stating that he is not suffering from tuberculosis. He is also expected to submit a language skill certificate as a proof of knowing the state language.
It is necessary to get hold of residence permit of the nation. This is of two types, namely, permanent and temporary. Migration Permit to Latvia can be easily accessible either by purchasing a property, or through business investments. Gaining residency on the basis of real estate is amongst the most popular methods of obtaining a Latvian Residence Permit. With the aim of getting 5-year Residence Permit opens the way for further extension of visa, but, the aspirant has to fulfill certain requirements.
To meet the above prerequisite, the applicant should have made purchases of not less than EUR 142,500. The purchase certificate should be under the name of the migrant who has applied for its residence permit. The complete payment should be made through funds transfer, or through a bank. The property should be purchased from the citizen of Latvia or the EU. The candidate is also expected to settle all his taxes pertaining to real estate.
On getting Latvian Residency, the holder enjoys many facilities. He can invite his relatives and they also enjoy free movement in the Schengen countries. It also provides the residence permit for spouse and young children. Their children are entitled to get free or discounted education. He also enjoys many medical, unemployment and maternity benefits. The migrants enjoy all the benefits which a Latvian citizen is entitled to. They are also entitled to grab the driving license of the Baltic nation.
Besides enjoying the TR, the holders also avail benefits of traveling. The migrant has to invest 13.5 million lats in local business. This will help in getting residency for 5 years with the possibility of extension. There are two possibilities of investments. The migrant can contribute smaller amounts equivalent to EUR 35,620 with additional investment in limited company or in a joint stock company. The other option is to contribute EUR 142,470 to a Latvian company which is higher than the first option.
According to the latest survey, new Latvian immigration law has limited down the residence permit to 700 permits on the basis of real estate purchase of worth EUR 150000 with the extension of 100 permits exceeding EUR 0.5 million.