What were the results of last year? Is the residence permit program still in effect in Latvia? What is the situation at the moment? You can find answers to these questions in our article.
In 2018, 76 investors purchased real estate and obtained a residence permit in Latvia. This is 12 fewer people than in 2017. In 2017, 88 investors obtained a residence permit.
Statistics for 2019 are not yet available, but we are seeing an improvement in the situation and an increase in the number of residence permit requests.
The geography of investors is extensive - this includes Russia (the largest number of residence permit holders), China, Ukraine, Kazakhstan, Uzbekistan, and Belarus.
In addition to new transactions, it is also important to assess the total number of active residence permits. As of the end of December 2018, 8,492 people held an active residence permit (based on real estate) (3,939 investors and 4,553 family members).
Fortunately, there is no trend of residence permit holders selling property or renouncing their residence permit. Thus, the Latvian real estate market maintains stability.
Also, you can find publications in the mass media about the termination of the program and difficulties in document processing. Most often, this is inaccurate or distorted information.
The residence permit program is still in effect, there are no new conditions, there are no changes.
Moreover, we see an improvement in the situation among our clients. Since September 2018, most investors have obtained their residence permit on the first attempt, without any delays or difficulties. However, it should be noted that positive and quick results would not be possible without careful preparation of documents, timely submission of information, and thoroughly executed preparatory work.
If you also wish to purchase a quality real estate property, if an individual approach is important to you, if you want to communicate with a realtor and lawyer in your native language, then contact our company KOM-INVEST! We will be happy to select a suitable property, answer all your questions, draw your attention to important nuances, process the transaction, and arrange your residence permit!
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
Email: info@kominvest.com
Skype: KOM-INVEST