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Foreigners may obtain a residence permit, buying two properties in the regions of Latvia

18-12-2015

On Thursday, of December, the Parliament of Latvia (Saeima) at the second reading adopted that foreigners from non-EU countries can apply for temporary residence permit in Latvia for 5 years, purchaising of two properties in the regions outside of Riga and Riga district of total value 250 thousand euros.

At the second reading, the Parliament of Latvia (Saeima) adopted new amendments to the Immigration Law, that a foreigner can obtain a temporary residence permit for five years, buying two properties outside of Riga and Riga district of 250 thousand euros. Each property value must be at least 125 thousand euros.

But in Riga, Jurmala and Riga districts such as Adazu, Baldone, Carnikava, Garkalne, Ikšķiles, Ķekavas, Marupe, Olaine, Ropažu, Salaspils, Saulkrastu or Stopiņu district for obtaining a residence permit in Latvia will still need to buy one property of total value at least 250 thousand euros.

The amendments stipulate that the cadastral value of real estate in Riga, Jurmala and Riga districts, listed bellow, shall not be less than 80 thousand euros, but outside of Riga, Jurmala, and Riga district cadastral value of each property must not be less than 40 thousand euro.  
 
 
 

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