Amendments to the Immigration Act, which specify the procedure for obtaining a temporary residence permit in Latvia for foreign investors, adopted by the Saeima in Latvia last week, making the process of obtaining residence permit in a more organized, experts say the Latvian Rietumu banka. On this day, June 21, a REGNUM correspondent was informed at the press-service bank.
"Recent developments relieve some of the issues that have so far appeared in the paperwork. I am confident that our clients and their family members who supported Rietumu get residence permit, as a result will benefit, because clarity in administrative matters - it's always a plus. We for its part, began to offer advantageous credit terms of buying property in Latvia and we see that the idea of a "second Baltic house" is becoming increasingly popular. Moreover, the residence permit for the registration of real estate can be bought on credit "- sure the first vice-president of Rietumu banka Ruslan Stetsyuk.
To obtain a temporary residence permit in Latvia, and along with it - and unable to move freely throughout the Schengen area, you must either place in the Latvian bank subordinated debt (deposit) or buy real estate in Latvia, or to invest capital in a local company. The relevant rules of the Latvian law on immigration began to operate last year, recognized as one of the most liberal in Europe. Recently entered into force amendments to the law making process of obtaining a residence permit as clear.
The amendments relate to investors who plan to issue residence permit on the basis of capital investments in companies or real estate purchase. When investing in capital in the amount of 36 thousand euros determined that such an enterprise should not work more than 50 employees, annual turnover not exceeding EUR 10 million, and annual taxes should be paid in an amount not less than 29 thousand euros. When investing in capital in the amount of 142 thousand euro are no other conditions are put forward.
When purchasing real estate in addition to the previously specified in the law of the minimum purchase amount (142 thousand euros in Riga and the major cities and 70 thousand euros in the regions) need to be considered and the cadastral value of property to be acquired - at least 43 and 14 thousand euros, respectively. If a cadastral value is less than specified, the transaction can be effected, then the price of sale must meet the value specified in the assessment of a certified appraiser. The investor can purchase one or several properties, the total cost of which will correspond to the minimum amount of purchase.
In the amendments stipulate who may have purchased real estate: the legal entities registered in Latvia, and from individuals - citizens of Latvia and the EU, as well as citizens of other countries residing in Latvia with a valid residence permit. No matter where in the Latvian real estate investor bought, insert a residence permit in the passport, he is now able to obtain the location of the property, and in Riga. To get stickers in the passport in Riga, in such cases it is desirable to pre-notify when submitting documents to the Embassy of Latvia in their own country.
As reported news agency REGNUM, several dozen clients Rietumu banka have received residence permit in Latvia. Rietumu banka - Latvia's largest bank with a local private capital. Net audited profit Rietumu Group for 2010 amounted to EUR 10 million. Regional offices of the group are located in Moscow, St. Petersburg, Minsk, Kiev, Alma-Ata, Paris, Bucharest.
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