Changes in the Latvian immigration law
From the beginning of 2016, the Republic of Latvia approved several proposals related to law on immigration in Latvia. The changes that undertook place concern income requirements related to issuance of temporary residence permits. Please see below a short overview of the relevant changes.
European Union citizens
EU citizens have the right to stay in Latvia on the basis of a valid travel document for the period of up to 3 months within half a year counting from the first day of entrance. If the person wishes to stay in Latvia longer, the temporary residence permit shall be applied.
The person has to have minimum income of 370 EUR per month (was 360 EUR per month) in order to receive a temporary residence permit in Latvia.
Non European Union citizens
It is required that investors who purchase and own real estate (functionally bounded with buildings) worth over 250 000 EUR, and apply for a temporary residence permit on investment basis, must have minimum income of 1110 EUR per month (was 1080 EUR per month). Similar increase on minimum income applies also persons who have invested at least 150 000 EUR or 35 000 EU in the share capital of a company.
A person who applies at least 280 000 EUR in a credit institution for (at least) 5 years term (without rights to discontinue this investment earlier), must have minimum income of 370 EUR per month (was 360 EUR per month).
A person who is registered in the Latvian Commercial Register as the Board or the Council, managing or a person authorized to represent a corporate entity (a foreign corporate entity) in activities related to the branch office in Latvia) must have minimum income of 1636 EUR per month (was 1432 EUR per month) in order to receive a residence permit. It is required that a company that has been registered per 1 year, has paid at least 21 350 EUR in taxes.
A representative of foreign corporate entity has to have minimum income of 370 EUR per month (was 360 EUR per month). If a person is an employee in the Latvian or foreign company he/she has to have a minimum salary of 818 EUR per month (was 716 EUR per month).
A person´s spouse and minor children, as well as dependants can receive the residence permit on the ground of your received residence permit. Person spouse income per months must be 370 EUR (was 360 EUR per month), a child 222 EUR (216 EUR per month).
Schengen visas
The Schengen visa allows the holder to a total stay of up to 3 months days within a period of 6 months for tourist or business purposes. Receiving the multiple entry Schengen visa, is possible to leave and return in any number of times within the 6 months period, but the combined stay within the region must not total more than 3 months (90 days).
If there is the Schengen visa issued to the employee of the Latvian or foreign company, receiving of the work permit and announcement of the vacancy (1 month before receiving of the Schengen visa) is required before receiving of the visa. In this case you must have a salary of 818 EUR per month (was 684 EUR per month).
If you are interested to find more about immigration law in Latvia, please do not hesitate to contact our lawyers at info@gencs.eu.
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