Temporary residence permit in Latvia / EU

If a foreign citizen has purchased real estate in the Republic of Latvia or he/she possesses real estate in the planning region of Riga or in the cities of the republic (Riga, Daugavpils, Jekabpils, Jelgava, Jurmala, Liepaja, Rezekne, Valmiera, Ventspils) total value of which is not less than 250,000 EUR (283,850 USD*) provided that the following conditions are fulfilled at the same time:

  • He/She does not have or has never had any property tax liabilities;
  • Payment has been made by non-cash transaction;
  • Real estate has been purchased from a legal entity which is registered in the Republic of Latvia, European Union, European Economic zone or in the Swiss Confederation. Real estate property has been purchased from an individual who has a citizenship of the Republic of Latvia or the European Union or real estate property has been purchased from an individual who is not a citizen the Republic of Latvia, but who stays in the Republic of Latvia with a valid residence permit;
  • Total cadastral value of real estate purchased in the planning region of Riga and in other cities of the republic is not less than 80 000 EUR (~90,832 USD*);
  • In case the cadastral value is smaller than the one previously specified then total value of real estate property must not be less than 250 000 EUR (283’850 USD) according to the market value of this real estate property which has been calculated by a certified real estate appraiser;
  • When applying for the first temporary residential permit 5% of real estate property value is paid to the State Budget, a residential permit for 5 years is granted.

*USD exchange rates on 22.10.2015



Our Standart services

  • Finding real estate for TRP and others;
  • Consulting services in terms of real estate, TRP, visas, taxes and capital investment;
  • A full range of legal services including registration of real estate in the Land Register of the Republic of Latvia (drawing up agreements, organizing negotiations, processing of documents with authorities);
  • Immigration services; Legal support in formal TRP formalization in Latvia (and in other countries);
  • Crediting in European banks with 4.5% annual rates!! Up to 70% of real estate;
  • Post-purchase upkeep (renting out real estate and legal support). Tenant control, Real estate costs' aptimization, Technical support, Real estate control;
  • Consierge services – support in adaptation to Latvia;
  • Investment projects' offer (office buildings, shopping centres, dwelling houses, hotels, etc.) with annual yield rates above 8%;
  • Real estate appraisal;
  • Real estate insurance.

* As it is important to DOMENIKA LATVIA that all our Customers are completely satisfied, so that they are ready to create loyal long-term relationships. If our Customers wish DOMENIKA LATVIA can provide non-standard services, for instance, booking airplane tickets and hotel rooms, meeting you in the airport, connecting the Internet or TV cables etc.


Perfect services to non-residents

DOMENIKA LATVIA's special offer to non-residents -
your Home is only 8 steps away


1
STEP

1 STEP

We make a contact with a Client and book airplane tickets, a hotel room or apartments in the short run

2
STEP

2 STEP

We meet the Client in Latvia (at the airport "Riga" or bus station) along with a private car and afterwards present him or her the city

3
STEP

3 STEP

We organize inspection and presentation of the selected facilities according to wishes and possibilities of the Client in a row

4
STEP

4 STEP

We provide general analysis of the inspected facilities to make a successful decision On behalf of the Client we negotiate on more beneficial conditions

5
STEP

5 STEP

According to his or her wishes the Client selects the most suitable facility and may not worry about anythung but a needed sum of money

6
STEP

6 STEP

We organize opening of a personal bank account, take care of a further legal part and its supervision

7
STEP

7 STEP

The client receives a certificate by the Land Register of the Republic of Latvia and the keys! If it is necessary we will formalize a residence permit

8
STEP

8 STEP

If it is required we will organize real estate insurance, its maintenance and renting out. We provide repairs, upkeep and design services

* Due to extensive experience of our team (lawyers and experts in the field of real estate), understanding of the law of the Republic of Latvia and the European Union, as well as due to ongoing dialogue with representatives of the Office of Citizenship and Immigration, DOMENIKA LATVIA protect the interests of its Clients and as fast and safe as possible will get for you residence permit.

Crediting of non-residents

DOMENIKA LATVIA offers our foreign Clients to get a mortgage loan on the most beneficial conditions in the most stable banks in Latvia:

  • Opening a current accounts;
  • Opening a business accounts;
  • Crediting of non-residents.




* Quite often after fulfilling all formalities installments paid to banks on monthly basis are equal with incomes received every month if you rent out real estate property. As a result a Client gets both a residential permit (instantaneously) and real estate (in the long term) at a relatively low price. Furthermore, if the Client wants to sell the property in the future, it will be possible to earn a hefty sum of money.

Crediting requirements:

Finances

up to 70% of the market value of real estate property

Financing term

till 15 years;

Financing currency

EUR or USD;

Interest rate

Bank rate (~4,5%) + flexible rate from 3-month Euribor ~0,2 %;

Minimum amount of credit

100,000 EUR (~113’130 USD) , maximum - not defined; (exchange rate on 04.05.2015)

Monthly installment


Monthly installment for credit must not exceed 25% - 35% of Customer's monthly income (or family total income).

*USD exchange rates on 22.10.2015

Real estate catalogue for TRP

In this compartment real estate objects in the capital city Riga and resort city Jurmala are offered which allows one to apply for a residence permit in the Republic of Latvia and in the EU.

Why Latvia?

Freedom of movement: freedom of movement, residence, work, studies throughout the European Union in a visa free regime (within the Schengen agreement countries).

Geographical location: Location of Latvia is very beneficial and even profitable, bordering with the CIS countries and the Western Europe. The Baltic Sea provides direct access to the Scandinavian countries. A flight from Riga, for example, to Moscow, Kiev or Berlin will not take slightly more than one hour and a half. In the event If your immediate presence is needed in one or another part of Europe, you can get there within 24 hours.

A possibility of owning real estate and making money: in the capital of Latvia Riga or in the resort city Jurmala (as well as in other cities of the country) there is an opportunity to rent out your property and secure monthly incomes which usually are higher than interest rates for deposits in banks.

A possibility to earn interests on yield: if a Client has invested in Latvian credit institution a sum of money which is not less than 280 000 EUR (~316,64 USD – USD exchange rates on 22.10.2015) as a subordinated capital (subordinated loan, deposit or subordinated bonds) with no right to terminate the transaction earlier than in five years.

Ease of communication: Latvia is the leader amongst the European Union and Baltic countries themselves in relation to the number of Russians. Latvia is also an European country where people understand and are able to communicate in English. Despite the fact that Latvian is the official language, both Russian and Latvian are used on the streets of Latvia every day.

Nature: The wonderful Latvian nature. Forests, lakes and, of course, the pearl among Latvian treasures - the Baltic Sea.


Nature: The wonderful Latvian nature. Forests, lakes and, of course, the pearl among Latvian treasures - the Baltic Sea.

Residence permit

Questions and Answers

Why is a TRP needed?
Because it provides a freedom of movement within a visa free area, a possibility to live, work not only in the territory of the Republic of Latvia but also throughout the Schengen area.

How many years is a TRP issued for?
A temporary residence permit is issued for a period of up to 5 years and it must be registered on year- on-year basis. Whereas subsequently it is possible to resubmit the same documents or receive a TRP for 5 years or apply for a permanent residence permit (a citizenship in Latvia).

Are members of the family of a non-resident eligible for a TRP?
Yes, they are. During the validity period of a temporary residence permit a spouse or underage children are allowed to apply for a residential permit.

What are the conditions to receive a TRP?
If a foreign citizen has purchased in the Republic of Latvia or he/she possesses one or several real estate properties in the planning region of Riga or other cities of the republic (Riga, Daugavpils, Jekabpils, Jelgava, Jurmala, Liepaja, Rezekne, Valmiera, Ventspils etc.) total value of which is at least 250 000 EUR (283,850 USD*). or he/she possesses one or several real estate properties outside the planning region of Riga or outside the cities of the republic total value of which is at least 80 000 EUR (90’832 USD).

Can a non-resident receive a TRP using the mortgage options in Latvia?
Yes, he/she can receive a TRP but under conditions if a non-resident is named as a proprietor in the Land Registry Certificate. After getting a TRP it is possible to pledge real estate property.

Are there any age restrictions to receive a TRP?
No, there are not. The only restriction is age restriction when applying for credit.

How can non-residents receive a permanent residence permit?
Provided that the TRP has been granted a non-resident may get a permanent residence permit (citizenship) in the Republic of Latvia. However, a non-resident must not leave Latvia for more than 6 months and during the five-year period a non-resident must not be outside Latvia for accumulated 12 months (one year). A non-resident must have no tax liabilities and he/she must pass the naturalization exam on Latvian (official language) successfully.

Is it possible to receive a TRP if real estate property is purchased from a foreigner holding a valid temporary residence permit in the territory of Latvia?
Yes, it is possible. If real estate property has been purchased from a legal entity which is registered in the Republic of Latvia, European Union, European Economic zone or in the Swiss Confederation. Real estate property has been purchased from an individual who has a citizenship of the Republic of Latvia or the European Union or real estate property has been purchased from an individual who is not a citizen the Republic of Latvia, but who stays in the Republic of Latvia with a valid residence permit.

Partnership

We, holding company DOMENIKA LATVIA, will be happy to see new partners in foreign countries in the field of immigration and TRP services, real estate as well as capital investment and investments.

Due to our partnership agreement you will receive 50% of comission. Thanks to us you will be able to consult your clients competitevely and give answers to their questions about TRP in Latvia (in Europe).

Our partners and their Clients receive full range of services which leads to efficient results and we provide only trustworthy information about business transactions in the field of real estate.

To make yourself familiar with our company you always have an opportunity to get informative materials (presentation) as well as different examples of cooperation argeements which can be changed if find working with us interesting.

Contacts
About us

Holding company DOMENIKA LATVIA

We are DOMENIKA LATVIA – we provide our clients with legal services as well as immigration services (in Europe / in Latvia) – formalization of a RESIDENCE PERMIT in LATVIA (and in other countries) + real estate, visa, tax and capital investment (with annual yield rates above 8%) services



DOMENIKA LATVIA

  • ensures efficient non-residents' investment in Latvia
  • provides a full range of services to non-residents
  • finds the most suitable offer which corresponds to demands and wishes of a Client
  • formalizes business invitation, property registration, temporaty permission
  • guarantees relieable organization and execution of a deal

DOMENIKA LATVIA shall offer you suitable objects, not only which were found by you, but also 98% of the objects from the whole real estate market of Latvia and such objects which are not published. It has become possible thanks to many years' performance in this area, ample data base, collaboration with real estate owners and partners, including real estate agencies both in Latvia and abroad.


DOMENIKA LATVIA

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Investment objects

On the InvestPro.lv web portal you can find a broad supply of investment projects in three categories:

Ready project

An object is finished, further investments are not necessary and it is ready to be put into exploitation. The object may be successfully rented out or sold which will allow to gain a good profit.

For renovation

An object under construction and when all works are done the object can be successfully rented out or sold which will allow to gain a good profit.

Development land

A land plot, after it has been developed (to construct a building), can be fully or partly successfully sold or rented out which will allow to gain a good profit.



Consierge services


If you feel that you need help in some affairs, we, DOMENIKA LATVIA, are ready to assist you. We provide consierge services, everything from tickets' reservation to feeding your pet. During a certain perion we will be your assistant who will be ready to execute your assignments for a specified charge. Just one call and all your questions are gone.


We are ready to deal with day-to-day affairs like ordering a taxi, booking a table in a restaurant, booking a room in a hotel, food, flower and delivery and much more. You can also contact us in relation to business assignment – receiving calls, organization of a presentation, information search as well as our personnel are ready to assist you in employee hirig for your company.


You may not doubt that everything shall be executed perfectly well and you will be satisfied.

Contacts



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Complete real estate catalogue

On the Domenika.lv web portal you can find a complete list of the offered real estate objects both in the territory of Latvia (manily in the capital city Riga and resort city Jurmala) and a little bit in foreign countries – Italy, Greece, Spain and others.

Not every real estate objects allows one to apply for a residence permit, but there are objects with substencially lower prices. On this portal one can also find rental objects, in the event of being in Latvia for a short period of time.

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Contact Us

Contact us

If you want to invest money in one of the real estate objects in Latvia to get a residence permit in Latvia and not only that, contact our non-residents' investment specialists:

Address

Рига, улица Кришьяня Барона 32, Латвия, LV-1011

Call us on

+371 29118879 - WhatsApp / Viber Дайнис Курсишс
+371 26382287 - WhatsApp / Viber Эланс Димитриевс

Email us on

info@domenika.lv