On February 21, 2020, it became known that Latvia met the requirements and recommendations of the FATF (Financial Action Task Force) organization, so Latvia will not be included in the so-called "gray list".
As our Prime Minister stated, "the comprehensive overhaul of the financial sector was successful, and we have achieved the goal set a year ago - to put in order the system for combating financial crimes and restore the country's reputation."
In our view, this is good news for both new investors and those who already have investments in Latvia.
New investors will be able to make bank transfers from their country to Latvia, since the reputation of the Latvian banking sector no longer raises questions.
There will also be no difficulties in the reverse direction. There should be no restrictions on returning investments from Latvia to your country.
For example, you can receive income from renting out Latvian real estate and return these proceeds to your country. Your bank should accept this payment.
We understand that any new investments will be subject to thorough verification - the origin of funds, checks against sanction lists, and risk assessment. But if the verification is passed, then you can confidently assert that your income is transparent, since the banking sector in Latvia must comply with very strict rules.
If you wish to purchase a quality real estate property, and individual attention is important to you, if you want to communicate with a real estate agent 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, point out important details, complete the transaction, arrange your residence permit, and manage your real estate.
For more detailed information about obtaining a residence permit in Latvia, see here in different sections.
Have questions? We are waiting for your email or call!
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST