Real estate in Latvia is immovable property that usually consists of a land plot (possibly including all natural resources, depending on the agreement) and any buildings connected with it. In the case of an appartment it can also refer to a specific part of a building, along with a defined shared interest in the underlying land. In Latvia, if a foreigner purchases real estate and if the deal meets with specific requirements then this kind of investment can entitle the purchaser to apply for a residence permit. (read more)

Latvian real estate market review
According to the annual review, provided by the Latvian State Land Service (hereafter the SLS), during the period from the second half of 2011 to the second half of 2012, 49% of the total transaction turnover in real estate originated from deals on flats and commercial buildings, leaving more than half (51%) of all turnover being related to plots of land.

As the SLS mentioned in it's review, the biggest players in the real estate market in Latvia today are commercial banks and their subsidiaries. The second position (by volume of financial turnover in real estate) is held by the foreign investors, many of whom pursue the goal of receiving a residence permit in Latvia based on the purchase of real estate. The fact that Latvia's credit rating and GDP have increased significantly in recent years, while the rating of other European countries has declined, has played a crucial role in drawing the interest and confidence of foreign investors - especially in the Latvian real estate market. Many studies along with visible trends prove that the amount of money spent on real estate in Latvia will continue to increase for the forseeable future. The speed of growth has been strong but steady, increasing confidence and reducing the risk of any kind of property bubble. According to statistics provided by the Office of Citizenship and Migration Affairs, during the last year alone, 2,435 foreigners requested a residence permit based on the purchase of real estate.

The SLS data shows that the role of the Riga real estate market has always been bigger than the rest of the Latvian market. This trend has increased during the last few years. The amount of real estate deals in Riga is two times higher than in the rest of Latvia, which makes real estate in Riga in pretty high demand.

The EU or the European UnionLinks to an external site. is a political and economic union of several European countries (currently 28 member-states), that includes most of the jusridictions on the continent. The EU has developed in is actively promoting a range of policies aimed towards bringing the member-states together in all respects, as well as making their cooperation easier. These policies include:

common internal market
standardised system of laws
non-restrictive travel area
common visa policy
free circulation of goods and services
free movement of labour
All these and many other advantages are available to any resident of the EU, including citizens and migrants with residence permits, either temporary or permanent.



Furthermore, these benefits can also be enjoyed by the family members of these immigrants - the EU has many directives that allow family members to obtain a residence permit more easily, requiring fewer documents and applying simplified procedures.

Story
The history of migration in the modern European Union begins at the end of World War II and is based on the idea of ​​a united, borderless Europe. However, this idea, or, to put it loosely, an idea of ​​European unification, existed beforehand.

Before the end of World War II
The ideas of a united Europe before the 20th century (particularly 1949, when the Council of Europe was founded) were expressed by dynastic unions, empires and country-level unions, which often presented themselves as the "heart of Europe". those who embodied the political essence of the continent. The notable examples of such entities would be the Holy Roman Empire, the Polish-Lithuanian Commonwealth, and the Austro-Hungarian Empire.

The painting called Queen Europe is notable because some thinkers have also expressed the idea that Europe is not united under the banner of any particular country, kingdom, etc., but as a sovereign power in its own right. For example, a German cartographer, Sebastian Munster, presented a painting called Europa regina, or Queen Europe, in his 1570 work Cosmographia. In this painting, the countries of Europe are shown as borderless and united into a unit whose borders roughly corresponded to the borders of the continent of Europe.

1945 to 1993
After the Second World War brought great devastation to European countries and massive casualties among their inhabitants, the countries involved began to express a more concrete vision of European unity. In the decades that followed, a number of Europe-wide alliances and organizations were formed. These were devoted to different causes, but all were united under a single idea – the idea of ​​creating peaceful ties between European countries that would transcend national interests.

The most notable of these institutions were:

European Coal and Steel Community (ECSC)
European Atomic Energy Community (EAG)
European Economic Community (EEC)
European Council
European Parliament

This area is governed by the Handling of Alcoholic Beverages Law, Cabinet Regulations No. 662 “Procedures for the Circulation of Excisable Goods” and the Law on Excise Duties.
Sale of alcoholic beverages and tobacco products requires a special authorization – licence. (The Law on Excise Duties mentions the types of alcoholic beverages and tobacco products requiring a licence.) For example, the retailers of alcoholic beverages selling beer need only a licence for retail sale of beer.
A licence gives the right to sell alcoholic beverages or tobacco products only at the place indicated therein. A licence may be used only by the person to whom it was issued.

The Licensing Commission of the State Revenue Service issue licences to merchants registered in the Commercial Register for the following activities:

wholesale of alcoholic beverages and tobacco products;
retail sale of alcoholic beverages and tobacco products.
The procedure for obtaining a licence includes following activities:

documents for obtaining a licence are submitted by an official representative of the merchant whose signatory powers are registered in the Commercial Register or a person authorised by the official representative of the merchant;
the samples of the application form is available in the Appendix No. 7 and No. 8 of the Cabinet Regulations No. 622 “Procedures for the Circulation of Excisable Goods”;
in the application for obtaining a licence, the preferable means of receiving the permit (in paper or electronic form) should be specified (in compliance with the legal provisions on circulation of electronic documents);
a licence shall be issued for an indefinite period of time;
if a merchant additionally applies for retail sale of alcoholic beverages and beer in a booth, then the retail sale shall be allowed for a period of time specified by the binding regulations of the local government;
the application must be submitted with the following documents:
documents confirming the right to use the business premises;
explanation of the process of economic transactions and the financial security in case if the application is submitted to obtain a wholesale licence;
confirmation by the merchant that the local government has agreed on retail sale of alcoholic beverages in the booth, if the application is submitted to obtain a licence for this exact purpose;
the administrative commission considers applications and issues authorizations or makes a reasoned decision to refuse issuance of a licence;
the licence becomes valid on the next day after the decision is made;
the licence can be used only by the merchant to whom it was issued. The merchant is not entitled to transfer the licence to another person;
in case of refusal, the application can be re-submitted.
A licence may not be issued in the following cases:

the relevant licence of the merchant has been revoked or the record of the place designated for the sale of alcohol beverages or tobacco products has been deleted during one year before submitting the application due to violations of legal provisions related to circulation of excise goods;
a merchant has carried out commercial activities involving excise goods without a relevant licence;
the merchant or an official of the merchant's administrative body has not paid the fine imposed due to violation of legal provisions related to circulation of excise goods;
the application or accompanying documents contain false information, or accompanying documents are forged;
the merchant has been avoiding taxes during three years before submitting the application;
the merchant's administrative body includes individuals who during three years before submitting an application have been members of the administrative body of the merchant that has avoided tax payments;
the merchant has excise duty debt, except for the cases when the deadlines are extended in accordance with the tax laws and regulations, and payments are made in due time;
not all of the information or documents to be accompanying the application are submitted upon request by the Licensing Commission;
operations involving excise goods are conducted in places where such activities are prohibited according to the legal provisions governing the circulation of excise goods;
state fees referred to in the laws and regulations have not been paid.

The registration of Lithuanian companies is carried out by the State Business Register Center. The Register Center was established on July 8, 1997 by the Ministry of Justice of the Republic of Lithuania with state funds.

The main function of the registry center is the administration of the following three main state registers:

Real estate cadastre and register
Register of legal persons
Directory of addresses
The registry center took over responsibility for the registration of local government legal entities in 2004; however, company data has been collected from the register since 1990.

Indeed, the Register Center in the Lithuanian Public Sector is considered an excellent example of the establishment and development of a system of register databases.

The Ministry of Justice of the Republic of Latvia believes that the most suitable type of company for the administration, maintenance and development of registers is precisely a state-owned company that can make a profit as it offers more opportunities to improve the efficiency of the registration process. In contrast to the institutions financed from the state budget, a state-owned company also has the option of recruiting appropriate IT specialists and ensuring the development of IT.

Register of legal persons
The register contains complete information and historical data on the form and status of legal persons, their areas of activity, their size and information on representatives, members, governing bodies and obtained licenses, etc. of legal persons. Since 2004, most companies have been required to submit annual financial reports to the register. Likewise, limited liability companies have been obliged since 2010 to declare a list of shareholders by submitting this information to the registry center.

The Register of Legal Entities applies in practice the principles of transparency and publicity, because the information on legal entities: enterprises, institutions and non-governmental organisations is public.

Statements from the Register of Legal Entities, annual reports, lists of shareholders or any other documents, such as minutes of Board meetings, are kept in the archives of the Centre of Registers, and they are available to all interested persons. This is a paid service.

Electronic registration
In 2010, the Centre or Registers launched the electronic registration of legal entities online. Taking into account that no documents are submitted in written form when using this service, a safe electronic signature is necessary. So far, online registration of legal entities has been available only to the citizens of Lithuania, but the Centre of Registers is actively working on ensuring equal possibilities for foreign investors to use this service. Therefore, the e-Guide for establishment of enterprises is introduced in Lithuania to provide foreign customers with the required assistance by offering the information on how to carry out procedures of establishment and registration.

Types of entities
The Centre of Registers offers to register various forms of legal entities. For example:

a public limited liability company
a private limited liability company;
a cooperative enterprise
an individual enterprise
a state enterprise
a budget institution
an association
a traditional religious association
a trade union
an agricultural company
a co-operative society
a credit union
a municipal enterprise
a public institution
a charity and benefits foundation
a political party
other religious associations and societies
a branch or representative office of a foreign company
Certification services
The Centre of Registers is one of the three providers of certification services in Lithuania. The information trader of the Register of Enterprises of the Republic of Latvia, Lursoft, in cooperation with the Centre of Registers of Lithuania ensures the access to the Lithuania's business database. The business database of Lithuania is integrated with the system of Lursoft, and the inquiries are processed online, thus ensuring that the database is updated at the moment of checking.

As in any country, Latvia's human resources are defined by its population. The total population of Latvia is approximately 1 986 000 people. Of them, the working-age population, ie people aged 15-64, accounts for about 64% - 1 271 040 people. About 14% are children under the age of 15 – 278 040 people. The rest of them, 22%, are retired or pensioners - 436 920.

The unemployment rate in Latvia is around 9.5% (2016). This means that out of 1,271,040 people, 90.5% are working - 1,150,291 people. These are the same people who could be considered the consumers with the greatest purchasing potential. 120 749 people (this 9.5% of the unemployed) are potential workers or workers. The under-15s are potential workers (looking ahead) but unlikely consumers. In Latvia, state pensions are not high, making pensioners more likely to be potential customers and an unlikely labor force.

Languages
The official language of Latvia is Latvian, so all official documents (e.g. when founding a company) must be submitted in Latvian. Most contracts are also signed in Latvian, although certified translations are often available when dealing with foreign clients or partners. Latvian is also a primary language for transactions and marketing.

Another important language is Russian, due to the historical connections between Latvia and Russia. Although it is not recognized as a minority language and is not used officially (e.g. on most price tags), it is recommended to use Russian as an adjunct to Latvian advertising, as the Russian-speaking population accounts for about 39% of the total population - a significant number of Customers.

Public holidays
Latvia has 14 public holidays, two of which always fall on Sundays and are not deducted from the working week. This number of public holidays is roughly in line with the European average, and due to the common culture they are also mostly the same: Christmas Eve, Midsummer, Easter, etc. As in other European countries, Latvian customers tend to make a lot of purchases before the public holidays, especially before more traditional public holidays like the midsummer festival.

Official Name: Republic of Latvia
Capital: Riga
Total area: 65 000 km2
GDP per capita: $18,100
Native Language: Latvian
Government: Parliamentary Democracy
Population: 1,911,108
Major Religion: Evangelical Lutheranism
Monetary Unit: Euro (EUR)

Latvia regained its independence from the Soviet Union in 1991. Located on the Baltic coast, Latvia is a flat country with large forests that provide timber for the construction and paper industries. The surrounding area is rich in wildlife. Latvia also produces consumer goods, textiles and machine tools. The country attracts tourists from all over Europe.

Ethnically, the population is 59% Latvian and 29% Russian, and more than a third live in the capital, Riga. Riga was founded in 1201 and is the largest city in the three Baltic States with 730,000 inhabitants. At 43 meters, the Statue of Liberty is one of the tallest monuments in Europe.

Latvia's 100-seat unicameral parliament, the Saeima, is elected every four years by direct popular vote. The President is also elected by Parliament every four years.

The best-known Latvians include the expressionist painter Mark Rothko and the contemporary composer Peteris Vasks.

Characteristic specialties of Latvian cuisine are speķapīrādziņi (bacon pies) and a refreshing, cold sour cream soup.

Health & Wellbeing
Social security and benefit programs are being developed, including free provider choice, free medicines and prescriptions, and inclusive health insurance for all citizens.

Economy & Jobs
Service, tourism, shipping, trade and agriculture.

Main attraction
Riga, Bauska Castle, the cities of Jurmala, the historical town of Kuldiga and the medieval castles of Sigulda.

Immigration
Latvian citizenship can be obtained in a number of ways. The most common are lineage, birth, marriage, award renewal, and business. Tourist, student and work visas are also available as immigration is provided through real estate.

Business
Latvia is a small, open economy, with exports accounting for almost a third of GDP. Because of its geographic location, transit services are highly developed, along with timber and wood processing, agriculture and food products, and manufacturing of machinery and electronics industries. Corruption remains a barrier to attracting foreign direct investment, and Latvia's low birth rate and declining population pose major challenges to its long-term economic vitality. Latvia's economy posted GDP growth of more than 10% per year in 2006/07, but slipped into a severe recession in 2008 due to an unsustainable current account deficit and high levels of debt amid the flagging global economy. Triggered by the collapse of the second largest bank, GDP collapsed by 18% in 2009. The economy has not returned to pre-crisis levels, despite strong growth, particularly in the export sector in 2011-12. The IMF, the EU and other international donors provided significant financial support to Latvia under an agreement to defend the currency's peg to the euro in exchange for the government's commitment to tough austerity measures.

Official Name: Republic of Latvia
Capital: Riga
Total area: 65 000 km2
GDP per capita: $18,100
Native Language: Latvian
Government: Parliamentary Democracy
Population: 1,911,108
Major Religion: Evangelical Lutheranism
Monetary Unit: Euro (EUR)

Latvia regained its independence from the Soviet Union in 1991. Located on the Baltic coast, Latvia is a flat country with large forests that provide timber for the construction and paper industries. The surrounding area is rich in wildlife. Latvia also produces consumer goods, textiles and machine tools. The country attracts tourists from all over Europe.

Ethnically, the population is 59% Latvian and 29% Russian, and more than a third live in the capital, Riga. Riga was founded in 1201 and is the largest city in the three Baltic States with 730,000 inhabitants. At 43 meters, the Statue of Liberty is one of the tallest monuments in Europe.

Latvia's 100-seat unicameral parliament, the Saeima, is elected every four years by direct popular vote. The President is also elected by Parliament every four years.

The best-known Latvians include the expressionist painter Mark Rothko and the contemporary composer Peteris Vasks.

Characteristic specialties of Latvian cuisine are speķapīrādziņi (bacon pies) and a refreshing, cold sour cream soup.

Health & Wellbeing
Social security and benefit programs are being developed, including free provider choice, free medicines and prescriptions, and inclusive health insurance for all citizens.

Economy & Jobs
Service, tourism, shipping, trade and agriculture.

main attraction
Riga, Bauska Castle, the cities of Jurmala, the historical town of Kuldiga and the medieval castles of Sigulda.

immigration
Latvian citizenship can be obtained in a number of ways. The most common are lineage, birth, marriage, award renewal, and business. Tourist, student and work visas are also available as immigration is provided through real estate.

Business
Latvia is a small, open economy, with exports accounting for almost a third of GDP. Because of its geographic location, transit services are highly developed, along with timber and wood processing, agriculture and food products, and manufacturing of machinery and electronics industries. Corruption remains a barrier to attracting foreign direct investment, and Latvia's low birth rate and declining population pose major challenges to its long-term economic vitality. Latvia's economy posted GDP growth of more than 10% per year in 2006/07, but slipped into a severe recession in 2008 due to an unsustainable current account deficit and high levels of debt amid the flagging global economy. Triggered by the collapse of the second largest bank, GDP collapsed by 18% in 2009. The economy has not returned to pre-crisis levels, despite strong growth, particularly in the export sector in 2011-12. The IMF, the EU and other international donors provided significant financial support to Latvia under an agreement to defend the currency's peg to the euro in exchange for the government's commitment to tough austerity measures.