Who is it applicable to 

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Residence permits are issued to NON EU citizens who wish to work in Latvia. These include those who wish to start a business of their own in Latvia. For example, a restaurant, consulting, IT services, recruitment agency, import export of products etc. 

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​​Main requirements 

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• OPTON 1 : Establish a new company and request a work permit as an Employee in this company.

 

• Establish a new company. It can be incorporated by a Latvian citizen or a resident who is allowed to do so. We can help with the process.

• Hire a local director and pay a minimum salary to the person.

• Prepare a detailed business plan or show some activity for 2-3 months.

• Deposit minimum of Euro 2800 capital to start with.

• Announce a vacancy for a position for 10 days, for a strategic employee requirement. Company should detail the requirements for the particular position. These may include specific market knowledge, type of industry experience, knowledge of foreign languages etc. 

• If no local candidate is available to match your expertise, local director can now request to hire you.

• Provide evidence of your work experience for such a position

• Process of taking initial approval from the OCMA ( Office of Citizenship and Migration Affairs ) in Latvia can take about  7-10 days. 

• Upon initial approval, you may now travel to Latvia and submit a complete application pack for requesting a residence permit.

• Company must prepare an employment contact with a minimum Salary of Euro 1537 per month or higher, depending on the classification of the position approved. 

• Monthly taxes for such employee are Euro 800 or more, which you are liable to pay.

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OPTON 2 : Buy an older company and join as Member of the Board

 

• Buy an existing company that's been established more than 12 months ago and was recently active. We help with buying such company. 

• Company's registered capital must be Euro 2800 or higher. 

• You become the shareholder and member of the board.

• Company must prepare an employment contact with a minimum Salary of Euro 3000/- per month or higher. 

• Taxes per month for a Member of the Board position are approx. Euro 1600, which you are liable to pay.

 

OPTION 3 : Invest and join a successful company

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This is the fastest process of putting your first foot into the door.  Successful companies can request to bring in a strategic person to come and join the business. Permission is granted relatively faster. You can secure residence permit as a Strategic Employee and cooperate with the company to execute your business idea under its brand umbrella. You can also establish a company of your own when a resident in Latvia. 

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