NAVIGATING THE PATH
STEP-BY-STEP GUIDE TO LATVIA GOLDEN VISA
Engaging with legal advisors, immigration consultants, and financial experts is highly recommended to navigate the complexities of the residency application process. Professional assistance ensures that all documentation is accurately prepared, translated, and legalized, reducing the risk of application delays or rejections. These professionals provide valuable guidance on selecting the most suitable investment pathway, complying with Latvian laws, and maintaining residency status, thereby facilitating a seamless and efficient application process.
Learn About the Latvia Golden Visa Program and define the investment option:
As the first step the potential applicants should preferably talk to experts, gain sufficient information about the Latvia Golden Visa Program and determine the appropriate investment alternative for themselves.
To save time, the applicants and their family members that will get benefit out of the Golden Visa program should fill in and duly sign the Due-Diligence Forms.
We recommend that the prime applicants and their family members who will benefit from the program to issue a valid Power of Attorney to a Latvian lawyer so that the next steps can be carried out and the transactions can proceed without them.
The POA may be signed in front of a Notary in Latvia or at a Latvian Consulate abroad. If the POA is signed in front of a Notary out of Latvia, then it should be translated into Latvian by a certified translator and apostilled.
Select an Investment Pathway:
Decide between real estate investment, business investment, capital transfer, or a combination based on your financial capacity and strategic goals.
If you chose a capital transfer, have your business plan prepared and make it ready to submit for government approval.
This step consists of executing the ‘Legal Due Diligence’ of the property (if this option is chosen) by a lawyer on behalf of the investor. This is a technical and serious process that may take some time. After which, the investor needs to acquire the promissory sale and purchase agreement and the execution of a public deed.
If the application is based on a financial investment, the selection of the financial instruments should be completed in this stage.
The time needed for the investment may vary depending on the type of the investment chosen and the real estate asset, financial, or setting up a business option.
Documentation:
During this period all the required documents and the information regarding the applicant, family members that will benefit from Golden Visa program, property to be purchased or financial / business investment should be gathered to attach to the formal application. Some of the documents required for the Golden Visa process are collected in Latvia and can be handled by POA, while some others should be collected and sent by the applicant’s country of origin. Documents may vary depending on the applicant’s citizenship or personal status.
All documents must be recent (issued in the last 3 months) and translated in Latvian language. Foreign public documents must be duly certified and authenticated with an Apostille stamp (for countries part of the Hague Convention) or be officially certified and then translated into Latvian. For any countries that are not parties to the Hague Convention, a certification by the Latvian consular in the country of origin of the document is required. Private documents need to be certified by a public authority or notarized before being translated.
Required main documents are:
- Personal Documents:
- Valid passport
- Birth certificate
- Marriage certificate (if applicable)
- Police clearance certificate from your country of residence
- Proof of health insurance
- Financial Documents:
- Bank statements
- Proof of investment funds (e.g., property purchase agreement, business investment details)
- Tax returns
- Additional Documents:
- Business registration documents (if applicable)
- Property deeds or contracts (for real estate investment)
Execute Investment:
Complete the chosen investment (e.g., purchase property, transfer capital, or establish a business).
Secure the official documents proving the investment has been made, such as property purchase agreement, deed registration (for Real Estate Investment); company registration certificates, investment receipts /for Business Investment); bank transfer receipts, bond purchase confirmations (for Capital Transfer)
Launch The Application:
Fill out the official residency application forms provided by Latvian authorities.
The application for the residence permit can be submitted to Office of Citizenship and Migration Affairs (OCMA) in Latvia or through a Latvian embassy/consulate if applying from abroad.
Ensure all applicable fees are paid, which may vary based on the investment pathway and number of applicants.
Go to Latvia for the Collection of Biometric Data:
An important part of the process, and the only requiring the physical presence of all applicants (main investor and family members) is the collection of the biometric data.
According to the EU legislation, the Latvian Authorities must collect:
- Biometric “passport type” photos of all applicants, including infants over 3 months old.
- Fingerprints for all applicants, including children over 6 years old.
- Specimen of signature for all applicants, including children over 12 years old.
Fingerprints of the index fingers and the thumbs are collected by both hands. In case of applicants who are not able to give their fingerprints, due to temporary or permanent inability then it is possible to submit a medical certificate stating the disease concerned.
The photos must be a close-up of the full head and upper shoulders/chest, contain no other objects or people and be in clear contrast to the background.
To enter Latvia to submit the biometric data the applicant may need to hold a valid Schengen visa according to his nationality. Currently, citizens from around 100 non-EU countries are required to hold a visa to legally enter Latvia. If the applicant does not belong in these countries, he may legally enter Latvia without a visa.
Obtain Approval for The Latvia Golden Visa:
This phase is completed by the authorities, after which the Golden Visa application will be granted, and the applicants will be issued a Golden Visa Residence Card.
The timeframe to receive the Golden Visa approval as set by the law is two months, after giving the biometric data.
Renew Your Golden Visa in Greece:
Every five years, the Latvia Golden Visa holders can apply to renew their Golden Visa residence card, making it easy to access permanent residence.
Request Citizenship:
After ten years of continuous living in Latvia and paying taxes, Golden Visa holders will be eligible to apply for citizenship and a Latvian passport.
Hands-on Assistance
Once the potential applicants choose their investment options and duly issue the Power of Attorney to our team, we:
Make sure that the right process is followed for the Golden Visa, depending on the investment.
Perform all legal due diligence.
Negotiate with all related parties and draft the contracts.
Fill out all tax returns and carry out all the necessary transactions.
Sign the sale contracts or bank documents on behalf of the applicants.
Submit all the necessary documents and information to the competent authorities.