Latvia Permanent Residence via Economic Immigration Scheme: A Comprehensive Look

The Republic of Latvia, which was earlier a part of the former USSR, has now emerged as a much preferred immigration destination for several discernible migrants–many of who wish to gain its prized permanent residency status through the Latvia Permanent Residence Visa.

Latvia–a state-member of the European Union (EU) and Schengen agreement–has lately brought-in an economic immigration scheme even as the same offers 5-year renewable residence permit–the basis of which is investment made in the nation. Visas are proffered for investors, besides every ble even in case the business does not lead to earnings. Allegedly, this choice suits the most those who want to set-up a firm inside the EU.

Latvian Residence Permit Advantages

The visa gives the holders several advantages even as these are key ones:

Unrestricted travelling rights in the Schengen area: Latvia permanent residence permit enables the holder residence in any of the Schengen member states, minus a visa.

Long validity duration: A residence permit made available, via investments is legitimate for as many as 5 years.

No restriction on residence: The visa holders are free to stay in the republic as they want. To put it differently, they may or may not stat permanently. The choice is theirs. Simultaneously, post gaining a residence permit, they may reside therein for the whole year.

Relocation break: In case a family mulls over a chance to shift to Europe in the coming years or months, a residence visa gained in the EU member state and living there is considered an advantage while filing a petition for a position of permanent resident or citizenship in some member state of the union.

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