Investments in Latvia.
Immigration to Latvia.
Moderate pricing policy in respect of real estate and assets Tax discounts and cash benefits for active investors Relatively low “investment threshold” for obtaining residence permits in Latvia Availability of special economic zones and free ports – Liepaja, Rezekne, Ventspils and Riga ports No restrictions on the lease or sale of the purchased Latvian real estate.
Attraction of investments to the state is currently one of the main priorities of the Republic of Latvia. Back in 2010, the government began a large-scale work to create favorable conditions for foreign investors. Thanks to a planned and coordinated at all levels of public policy, investment in Latvia has become a safe and profitable investment.
Tax system.
The liberal nature of the taxation system in Latvia is largely due to the abolition of a number of taxes in 2013 and the conclusion of a large number of bilateral treaties on the avoidance of double taxation. The Latvian tax system is convenient for foreign investors in that it has one of the lowest tax rates among all EU countries: corporate tax is 15%, VAT is 21%.
Key economic sectors of Latvia.
Due to strict financial discipline, Latvia was able to withstand the global economic crisis of 2008 and become the fastest growing European economy. A significant part of the Latvian gross domestic product – approximately 70% – falls on the service sector. Important components of the economy of Latvia are also the manufacturing industry, transport and construction industries.
Opening of business in Latvia.
Investments in Latvian business or the opening of a representative office in Latvia can bring a foreign founder not only financial benefits, but also the right to legal residence in the state. To obtain a residence permit in Latvia, the minimum amount of investment in the charter capital of a local company should be 35,000 euros (for small businesses) or 150,000 euros (for large businesses).
Latvian citizenship for investment.
The existing investment program in Latvia does not provide for the option of directly obtaining Latvian citizenship, but fixes the status of residence permit for a foreign investor. To participate in the program, an alien should choose one of the investment options, each of which will allow obtaining a residence permit both for the investor himself and his family members. The most common option involves a subordinated deposit of at least 300,000 euros for a period of 5 years. Advantageous advantage is the opportunity to issue a deposit without a direct visit to the country, although to design the very map of residence permit to come to Latvia still have to.
The second option of obtaining a residence permit in Latvia under the investment program will allow you to issue a cherished card, investing 35 000 euros in the authorized capital of the enterprise. However, these conditions are not limited: the company may have no more than 50 employees, and the annual turnover should not exceed 10 million euros. There is also a separate condition that specifies the taxation of an enterprise for an investor. For the reporting period, the amount of taxes paid must be at least 40,000 euros.
Real estate in Latvia.
Own housing on the shores of the Baltic Sea can also become not only a place for a good rest or permanent residence, but also a profitable investment. Together with the Latvian real estate the foreign investor automatically receives a residence permit for a period of 5 years and the right to legal employment in Latvia. The main condition for obtaining residence permit for real estate is the minimum purchase amount – 250 000 euros for one real estate object, owned by a citizen of Latvia or another country within the EU. In this case, the very fact of the purchase obliges the foreigner, and the future holder of the residence permit card, to pay a special fee of 5% of the transaction amount. Having received the property rights, and also having issued a residence permit, the investor and his family members must continue to re-register annually.
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