Recently, more and more clients have been contacting our company to arrange a residence permit under the program "citizens of visa-free countries receiving a sufficient pension".
What are the main criteria for a residence permit?
- Retirement age (in 2024 - 64 years and 9 months).
- Possession of a pension of 1,100 euros per month.
- Citizenship of a country that has a visa-free entry agreement with Latvia. For example, Israel, Canada, United States.
Is property purchase required?
Property is not required. It is sufficient to have an address in Latvia where you can register your residence.
For what period is a residence permit issued?
A residence permit is issued for 5 years. The residence permit card is issued for one year, with a simple annual renewal procedure.
What are the advantages of a residence permit?
A Latvian residence permit allows you to stay in Latvia for an unlimited period of time. It also allows you to visit European countries with simplified procedures.
How do you prove you have a pension?
You must obtain a document from the social service confirming pension payments for the last 12 months of at least 1,100 euros per month (the average pension in Latvia last year, multiplied by two). Such a document must be certified with an Apostille. The currency does not matter - the Department of Citizenship and Migration will convert it using the exchange rate of the Latvian Bank.
Can the amount of 1,100 euros be confirmed in other ways? For example, by a bank deposit?
In our practice, we have had clients who proved the presence of this amount with other documents. For example - a bank deposit with monthly interest payments. Or income from securities. Or - income from renting out property. Or - possession of a large balance in an account.
However, we point out - recently a requirement was introduced that the main condition is the presence of a pension. If there is no pension at all (for example, only income from a deposit), then it will not be possible to arrange a residence permit.
Can other family members obtain a residence permit?
Together with the senior (who has a pension), his spouse can arrange a residence permit. Adult children cannot arrange a residence permit.
How long does the residence permit application process take?
On average, no more than one to two months. During this time, you can collect documents, submit them to the department, receive a decision, and arrange your residence permit cards.
Our company already has seven successfully processed clients under this program!
For more detailed information on obtaining a residence permit in Latvia, see here in different sections.
Have questions? We look forward to your email or call!
Phone number: +371 29774775 (Viber, WhatsApp)
Email: info@kominvest.com