One of the major advantages of registering a company in Latvia is the possibility to obtain a residence permit. With a Latvian residence permit, you can travel freely within the Schengen Area for up to 90 days within a six-month period. Residence permit holders, along with their family members, have the right to work, study, and access medical services in Latvia. Additional benefits include a facilitated process for obtaining visas to the United States and other countries.
How to Obtain a Residence Permit Through Business in Latvia
Latvia offers several options for foreign citizens to obtain a residence permit through business activities:
- Investment in the Share Capital of a Latvian Company
A foreign citizen may apply for a residence permit by contributing to the share capital of a Latvian company. The investment requirements are:- €50,000 if the company’s annual turnover does not exceed €10,000,000 and it employs up to 50 people.
- €100,000 if the company’s annual turnover exceeds €10,000,000 or employs more than 50 people (including subsidiaries).
- Corporate Roles
Residence permits can be granted to those who take positions such as board member, administrator, council member, partnership representative, proctor, liquidator, or foreign merchant representative in various activities related to a Latvian company or a branch of a foreign company. - Employment in a Latvian Company
Foreign citizens can also obtain a residence permit by being employed in a Latvian company with a minimum salary of €860 per month. This permit is initially issued for five years and must be extended annually. - C-Type Short-Term Visa
Alternatively, foreign citizens may apply for a C-type visa, a short-term visa valid in the Schengen Area. Variations include:- C-type visa valid in all Schengen member states – allows stays in any Schengen country.
- C-type visa valid only in Latvia, or excluding specific Schengen states.
Special Conditions for EU Citizens
European Union citizens can also apply for a residence permit if they have resided in Latvia for five years or more. In certain cases, the five-year requirement may be waived.
Obtaining a residence permit through business in Latvia not only provides freedom of movement across Europe, but also opens doors to business opportunities, work, education, and international travel benefits. Latvia combines favorable business conditions with personal mobility, making it an attractive destination for entrepreneurs and investors.
