In recent times, the Latvian Golden Visa has emerged as an enticing opportunity for individuals seeking to invest in a European country while enjoying the benefits of residency. One of the avenues to obtain this sought-after visa is through capital share investment in a Latvian company. This article serves as your ultimate guide to navigating this process seamlessly.
Understanding the Latvian Golden Visa
What is the Latvian Golden Visa?
The Latvian Golden Visa program offers residency permits to non-EU citizens who invest minimum of Euro 50,000 in various Latvian enterprises, contributing to the country's economic growth. By investing in a Latvian company, you not only secure your foothold in the European Union but also unlock a plethora of benefits. Additional amount of Euro 10,000 is also to be paid to the Latvia State Revenue department, once your residency application is approved. In addition some small fees ranging from Euro 200 - 400 per person and arrangement of a declared place of living address is also required.
Benefits of the Latvian Golden Visa
Residency in Latvia : Enjoy the freedom to live, work, and study in Latvia.
Schengen Area Access : Once you obtain the Latvian Golden Visa, you gain access to the Schengen Area, opening the doors to travel throughout much of Europe.
Business or Employment Opportunities : Explore investment , self employment or gainful employment prospects within Latvia's booming economy. Specially if you are experienced in the IT field. An investor and his/her dependents can establish other businesses in Latvia and even in other Schengen countries beside his/her investment in the Latvian company that sponsored the Golden Visa. Thereby opening many doors of opportunities within Europe.
Quality of Life : Experience Latvia's rich cultural heritage, picturesque landscapes, and vibrant cities, clean air to breathe and excellent healthcare.
Higher Education - Higher education in Latvian universities is top class, taught in English and is reasonably priced starting from Euro 3500 per year.
Steps to Secure Your Latvian Golden Visa via Capital Share Investment
Step 1: Research and Select an Eligible Latvian Company
Before diving into the investment process, research Latvian companies that are open to capital share investments from foreign nationals. Ensure that the company aligns with your investment goals and meets the Golden Visa program's requirements. It would be wise to engage experienced consultants with market knowledge. SIA "Proserve" is a successful firm with experience in this matter.
Step 2: Capital Share Investment
Upon selecting a suitable company, initiate the process of investing in its capital shares. This investment solidifies your commitment to the Latvian economy and forms the basis of your application for the Golden Visa. Minimum investment must be Euro 50,000 and must be transferred to the company's bank account from your personal bank account.
Step 3: Prepare Required Documents
Compile all necessary documentation, including proof of your capital share investment, source of your income, proof of recent taxes paid in your country, valid passport, medical insurance, and a clean criminal record. Thorough documentation is key to a successful visa application.
Step 4: Submit Your Visa Application
Submit your visa application to the Latvian authorities, either at a Latvian embassy in your country or by visiting Latvia and submitting the application within Latvia. Ensuring that all supporting documents are accurate and complete. The authorities will review your application, including your investment details, before granting the Latvian Golden Visa. Process can take 10 - 30 working days.
Step 5: Receive a decision letter from the immigration authorities.
Upon review, you will receive a decision letter. This letter will detail if any missing information is required, or if any documents must be submitted before a final decision may be granted. If all positive, you will be asked to pay a one time state duty of Euro 10,000 to the Latvian State Revenue Department's bank account. You cannot deposit cash and this payment must be made from your own bank account.
Step 6: Visit immigration authorities
Option A. If you submitted the application at Latvian embassy in your country, follow the instructions to submit your passport for a temporary Visa D sticker in your passport. This 3 month valid visa will allow you to enter Latvia one time to complete the process. Once you arrive in Latvia, you will visit the immigration department for biometrics and collect your first residence permit card valid for one year.
Option B. If you submitted the application while you visited Latvia, and you are waiting in Latvia, you will now go back directly to immigration department and complete the biometrics and card issuance process. If your previous multiple entry Schengen visitor visa is still valid, you may enter Latvia using the same and complete the process.
Now you have your Latvian Golden Visa, marking the beginning of your exciting journey as a resident of Latvia and the European Union.
Conclusion
Securing your Latvian Golden Visa through capital share investment in a Latvian company opens doors to a myriad of opportunities and experiences. By following the outlined steps diligently, you can navigate the application process smoothly and embark on a new chapter in your life. Invest in Latvia, invest in your future.
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