Latvia is a small, peaceful Baltic state surrounded with beautiful and eye-capturing landscapes. It is located between Estonia and Lithuania. It is not so populated even as its regional language is Latvian. However, majority of the people speak English and Russian. The nation falls under the Schengen area and it gives the facility to move in and around 25 countries which fall under the area.
Many aliens immigrate to Latvia with the aim of traveling to Europe for travel, work and study purposes. There are many gateways wide open for aspirants for getting a residence and shift to this Baltic region. But perhaps the most approachable route is through the investments in real estate or in any national company. This is one of the effective ways of entering the country and getting sure shot approval from the concerned office of citizenship and migration affairs. Under this scheme, the residence permit is given for a period of 5 years.
The Schengen Visa allows the migrant to stay for 90 days in the time period of six months under the Schengen countries. The investor enjoys the facility of free movement. He can leave the country whenever he wishes so. After 10 years of stay in the country, the migrant can apply for permanent residence.
Two packages are offered under this investment plan. First package is of EUR 70,000. Under this plan, the migrant gets TRP in 2-3 months where as the second package is of EUR 1, 50,000 in which the migrant has to buy real estate equivalent to this value. It can help him to get the TRP for 5 years even as it takes 3 months to obtain this permit. After holding TRP for 5 years, the immigrant can apply for Permanent Residency (PR).
The cost of living in the nation is fairly low. One of the most popular cities of this Baltic state is Riga. Majority of the people wish to buy real estate in the Riga city. Being the biggest city, it meets all the requirements of the present people. Liepaja and Daugavpils are other two big cities of the nation.
Residence permit allows the migrant to enjoy some really good facilities. He may invite his family and relatives which will provide the residence permit to them and the children under the age of 18. This also gives the chance to get the education in the European educational institutions. A migrant can also expand his business in the market and easily move in and around the Schengen area, without the limitations of borders. He also gets to enjoy multiple facilities which the citizen of Latvia enjoys.
The person holding PR can avail all the facilities pertaining to medical and education system. He enjoys all the rights of Latvian citizenship, except the right to vote. He can get the driving license in this Baltic sate. The facility of yearly renewals is offered to the non investors.