Obtaining a residence permit
The uniqueness of these changes lies in the introduction of a new method of obtaining a residence permit – investing in real estateLinks to an external site.. It has attracted a large number of investors as a foreigner investing in real estate has the opportunity to move freely within the Schengen area. Citizens of the Russian Federation are particularly interested in using this opportunity, since Latvia is close to it and is a popular tourist destination due to its unique cultural monuments, well-known resorts and international festivals.

Benefits of holding a temporary residence permit
Residence in the Republic of Latvia for a maximum period of five years
Cross borders freely between EU member states and non-EU countries
Moving and staying up to 90 days within 6 months to other EU countries except UK, Ireland, Cyprus, Bulgaria and Romania
to obtain a Latvian or EU permanent residence permit after five years
to obtain a temporary residence permit for the spouse and children
What is a residence permit?
A residence permit is a document granting a foreign citizen the right to reside temporarily (a temporary residence permit) or permanently (a permanent residence permit) in the Republic of Latvia. Invest wisely, invest in properties that are expected to increase in value!

Temporary residence permit
Issued for up to 5 years
Must be re-registered every year