You and your family will be eligible to obtain Latvian/EU Residence permit for 5 years by placing a Term deposit in Latvian bank of your choice.
|Suitable for:||High net-worth individuals wishing to obtain Latvian and European residency in most rapid and convenient way.|
|Minimum deposit:||EUR 280’000 + EUR 25’000 state duty|
|Requirements:||The deposit will be locked for 5 years, but interest will be paid on average 3% – 6% per Annum depending on particular Bank promotion.|
|Time to complete program:||1 – 3 months depending on your citizenship|
|Type of a Residency:||Initially, you will obtain the Temporary Residency permit (TRP) for 5 years by renewing it annually.|
|Who can apply:||All non-EU citizens without criminal records. Residence permit will be granted also to your Spouse and underage children (not over 18 years old).|
|Work Permit:||Yes, employment will be allowed. Certain conditions apply.|
What’s special about this program?
✓ Fast and Predictable. Perhaps one of the fastest programs in the market. Since program is very straightforward, there are no much obstacles which could delay or interrupt a program completion.
✓ Easy. Just few procedures to complete. It’s possible to complete program visiting Latvia just once by collecting your residence permit ID Card.
✓ Mobility. Enjoy freedom to travel and live anywhere within 26 countries of European Schengen area.
What’s so special about us?
✓ Explore alternatives. It’s always good to know what options else you have. We doubt that the Banks will let you explore other solution than bank deposit program. For each Solution we suggest, we will provide at least one Alternative to compare, even if it’s a link to our competitor website!
✓ Follow-up services. We are keen to assist you even after you will complete immigration program. Here are just a few examples how we can help:
- Handling Residence Permit annual renewal;
- Planning & manage your stay in Latvia.
STEP #1: Contact us and get detailed quote and evaluation. It is very crucial that at this stage you describing us your plans and desires as detailed as possible to be sure that you have chosen right program.
STEP 2: Choose particular bank. We will provide you with a latest information regarding Latvian Banks which participating in this immigration program.
STEP #3: Signing deposit agreement and transfer funds to deposit account.You can complete this stage either by visiting Latvia or in some cases remotely.
STEP #4: Submit your residence permit application. All adults wishing to apply for residency should visit in person nearest Latvian Embassy or Immigration department in Riga, Latvia.
STEP #5: Decision making by Latvian authorities.It could take 1 – 3 months depending on your citizenship.
STEP #6: Collecting Residence permit ID card. All family members who applied for residency should visit Riga, Latvia.
About the Latvia Banking Sector
Both domestic and foreign banks offer banking services in Latvia. A single authority, the Financial and Capital Market Commission (FCMC), supervises the financial sector to ensure the overall stability of the financial and capital markets. The legislative framework for banking in Latvia meets EU requirements, and in some areas is even stricter. International Financial Reporting Standards (IFRS) have been fully recognised.
Banking in Latvia is highly supervised and bank inspections are conducted more frequently than in other EU member states. The financial center of Latvia is the capital, Riga.
Currently, 20 local banks and 9 branches of foreign banks operate in Latvia with total assets of approximately 40 billion US Dollars (year 2012). Starting year 2014 Latvia has introduced the EURO as the national currency.