Changes to the residence permit program for the purchase of real estate in Latvia

October 26, 2021
Changes to the residence permit program for the purchase of real estate in Latvia
Last week the Latvian government submitted an updated immigration bill for consideration.

Last week the Latvian government submitted an updated immigration bill for consideration. One of its points was the partial refusal to issue residence permits for investments in real estate.

Terms of the potential law

According to the document, those foreign citizens who have invested in:

  • purchase of real estate in Latvia;
  • purchase of government securities;
  • subordinated capital of a credit institution.

It should be noted that this bill does not provide for the country's complete abandonment of the residence permit program. Such an opportunity is offered to foreign citizens if some other conditions are met - for example, investment in the fixed capital of the enterprise.

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Alexandra Meyer
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