Latvia Temporary Resident Permit (LTRP)—A Passing Look

Latvia, located in Northern Europe, is an extremely dynamic country for those who wish to live and work, specifically in Europe. It is one of the three popular Baltic countries. The country enjoys the status of being immigrant-friendly. Its people are warm and welcoming and proud of their values and culture. If you wish to live and work in Europe, then at no cost you can ignore the beautiful Baltic country.

Latvia Temporary Resident Permit (LTRP) is basically a legal document to prove that the permit holder has the legal right to live and work in the country. The candidate is issued a Biometric Card to travel in and out of the nation. He is also eligible to involve in professional activities, pursue higher studies, and invite family members for visa purpose.

Following are the ways through which you can obtain Latvia Temporary Resident Permit (LTRP):

Fixed deposit in a Latvian bank: The candidate has to deposit EUR 280,000 in Latvian Bank for a fixed period of five years. At the end of the tenure, the amount will be refunded without any interest on it, and you can enjoy the unlimited lifelong benefits.

Investment in Real estate: If the candidate wishes to make investment in Metropolitan city than the investment amount is EUR 141 043 and in suburbs, he must agree to buy the real estate of net value of EUR 71 150.

Investment: The aspirant must agree to invest at least EUR 35,000 in a company with the minimum 50 number of workers, and it must be a tax paying company of EUR 40,000 annually with the annual turnover not more than 9000,000. The second option is to make a onetime investment of at least EUR 150 000 in a single company without getting into other formal formalities.

The immigration Department of Latvia issues a multiple entry visa for up to five years. It is important that the visa holder renews the permit once in two years. It is highly recommendable to apply for renewal at least 10 weeks in advance, and during the duration the candidate should be physically present in the country.

LTRP—Major Benefits

  1. Candidates can easily move to Schengen zone and the European Union (EU).
  2. An easy opportunity to settle in Europe.
  3. Possibility of easy extension and the candidate may live and work in the country for longer period of time.
  4. The person can travel in and out of the country any number of times till the time his visa is valid.
  5. It is possible to retain the PR with minimum formalities.
  6. The holder may bring along his family members.
  7. An open opportunity either to invest or start a business venture.
  8. The visa holder can easily get a visa for other developed countries, like Australia, the US, and Canada.

It easy to obtain LTRP. The application processing does not take more than 30 days from the time application is accepted along with supporting documents. An experienced immigration consultant plays an important role even as an experienced guidance multiplies the chances of getting a LTRP.

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