Credit goes to Latvian government for showing a wonderful effort for enhancing country’s economic growth by introducing several amendments in its immigration policies and opened the door for investors by providing a lot of liberties to them for starting their own venture in the country.
Providing extra flexibility in immigration policy, the Republic of Latvia, divided into 118 administrative divisions, warmly welcomes the immigrant entrepreneurs, who are self-driven and capable of offering the wonderful support to various economic development programs to keep the economy of the country on the fast growing track.
Summarizing the above sentence, we can easily find out the most necessary requirements of Latvia immigration – one must be ready to offer their immense contribution in economic development, which is a primary requirement for the applicant. Besides, they have to deal with unemployment as well, by providing job opportunities to the citizens of the country.
In other words, businessmen and investors directly make an impact on the country’s economic development program. In return of their contribution, the immigrants get the facility of permanent residence in the country and lots of other privileges.
The immigrants who come under entrepreneur program – must have to demonstrate the minimum investment amount of EUR 300,000 (LVL 2, 00, 000) to the country for 5 years as a subsidiary deposit.
Moreover, the applicants must have to offer their contribution in real estate sector by purchasing a land a – for Riga, they have to provide an essential investment amount of EUR 143,000 (LVL 100,000) and for other areas they need to offer an amount of EUR 72,000 (LVL 50,000). More and more, the investors have to offer their contribution in corporate sector by offering an investment amount of EUR 36,000 (LVL 25,000).
Apart from offering employment opportunity, industrial development and economy development, the immigrants also provide corporate tax and other taxes for well being of the country, aiming to make it a fast growing country.
Latvia, shares a history with other Baltic States Lithuania and Estonia, not welcome only investor, it welcomes all kinds of immigrants under various visa programs – the country has witnessed a notable growth in increasing numbers of skilled workers – who are always in high demand in the country and get an opportunity to grab the wonderful job.
