Changes in the Latvian immigration law
From the January 1, 2017, the Republic of Latvia approved several proposals related to law on immigration in Latvia. The changes that undertook place concern income requirements related to issuance of temporary residence permits in Latvia. Please see below a short overview of the relevant changes.
European Union citizens
EU citizens have the right to stay in Latvia on the basis of a valid travel document for the period of up to 3 months within half a year counting from the first day of entrance. If the person wishes to stay in Latvia longer, the temporary residence permit shall be applied.
The person has to have minimum income of 380 EUR per month (was 370 EUR per month) in order to receive a temporary residence permit in Latvia.
Non European Union citizens
It is required that investors who purchase and own real estate (functionally bounded with buildings) worth over 250 000 EUR, and apply for a temporary residence permit in Latvia on investment basis, must have minimum income of 1140 EUR per month (was 1110 EUR per month). Similar increase on minimum income applies also persons who have invested at least 100 000 EUR or 50 000 EU in the share capital of a company.
A person who applies at least 280 000 EUR in a credit institution for (at least) 5 years term (without rights to discontinue this investment earlier), must have minimum income of 380 EUR per month (was 370 EUR per month).
A representative of foreign corporate entity has to have minimum income of 380 EUR per month (was 370 EUR per month).
A person´s spouse and minor children, as well as dependants can receive the residence permit in Latvia on the ground of your received residence permit. Person spouse income per months must be 380 EUR (was 370 EUR per month), a child 228 EUR (222 EUR per month).
If you are interested to find more about immigration law in Latvia, please do not hesitate to contact our lawyers at email@example.com.
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