One property - two residence permits
Some clients contact us with the wish to purchase one property, a house or apartment, but with the condition that two families could obtain residence permits. For example, elderly parents + their son and daughter-in-law.
This is possible, but certain requirements must be met.
First, the property must cost 500,000 euros (250,000 * 2).
Second, the cadastral value must be at least 160,000 euros. If this is not met - then an appraisal is needed.
The appraised value of the property must not be less than 500,000 euros. We draw attention to the fact that appraised value is often 10 - 20% lower than the transaction amount.
Third, each person must pay 250,000 euros, "for themselves".
That is, buyer No. 1 is one of the parents, who personally pays their share, 250,000 euros. And buyer No. 2 is their son, who also pays 250,000 euros.
It is not permitted for one buyer to pay for both themselves and the second buyer. Each person pays their own share independently. Even if they are relatives.
As for "spouses", the husband or wife obtain a residence permit on the basis of marriage. Thus, when purchasing one property, a residence permit can be obtained by at least FOUR people. If someone has minor children under 18 years of age - they can also obtain a residence permit.
If you also wish to acquire a good property, if 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 find a suitable property, answer all your questions, draw attention to significant nuances, complete the transaction, obtain a residence permit, and manage your property.
For more detailed information about obtaining a residence permit in Latvia, see here in various sections.
Have questions? We await your email or call!
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST