EU Immigrations

 30 - 11 - 2021

SHOULD YOU RESIDE IN LATVIA? – ANSWERED BY EXPERTS

Should you reside in Latvia? Does settling in Latvia offer you free-pass to the US? All you want to learn about settling in Latvia. Europe has been witnessing a remarkable increase of applicants for its residence permit whereby its holders are eligible to move globally. European residement by investment programs is widely recognized as the most economical and beneficial program. Among these programs, Latvia’s has been rising as a popular topic for residement investors. So should you invest in Lativa’s residement by investment program? In this post, Portico & Bridge will present to you all that you need to learn about Latvia residement. 

should you reside in Lativa?

ABOUT LATIVA – A GORGEOUS COUNTRY IN EUROPE 

Latvia also known as Republic of Lativa is a Schengen state, a major economic area of Europe. Latvia has a wide spreading coastline and long strips of forest. The capital city of Lativa, Riga, is renowned for its wooden nouveau architecture and remarkable art. Riga was crowned European cultural capital in 2014. 

SHOULD YOU RESIDE IN LATIVA?

Strategic position 

Lativa is located by the Baltic beach, between Litva and Estonia. This country is the gateway to trade among the US, Russia and Asia. Therefore, Latvia holds a crucial part for the entire EU’s trading activities. In terms of natural features, Lativa is home to stunning landscapes lining up wide beach and extended strips of forest. The climate here is cool all year round with four distinct seasons. Generally speaking, Lativa has an advantageous position and a rather ideal climate to reside in and develop. 

Latvia map

Potential of business and investment 

Latvia is home to an economy with potential of growing fast. There was time when Latvia’s growth reached the point of 11,9%, the highest figure in Europe (2006). Remarkably after Latvia joining EU, this country was ranked the 7th lowest Government debt in this union area. At the same time, Lativa took the top 25th place as the world’s best place to do business in. 

With such impressive achievements, it would be unsurprising that Latvia’s residence by investment program is full of hype for Vietnamese investors since Latvia meets every primary purposes they long for: residence rights for the entire family, profitable investment, and tuition-free education. 

The 10th most powerful passport

As featured in the Henley Passport Index – the world’s most authoritative passport index, Latvia’s passport is holding the 10th ranking. Once successfully obtaining this passport, investors are entitled to enjoy the free-pass to 183 countries including Schengen states, EU countries, etc. Therefore, it is worth investing in this passport whereby you can better improve your family and children’s future. 

Latvia

Visa-free to the US

Latvia passport is one of the 39 passports which are eligible for visa exemption to the US, as featured the US’s Visa waiver program. Therefore, this passport holders can stay in the US within a period of 90 days without visa, which can be of great benefit for investors on their short-business trip in the US.

An education system that meets European standards

The Government invests greatly into its education system making sure students are able to enjoy the best learning environment, from kindergarten to higher education. Latvian citizens are provided with cutting edge technology and a curriculum that meets European standards. Latvia aims to focus on encouraging students to develop their practical experience and thinking right at their early ages. Therefore, education is a noticeable part of Latvia. 

education

Cost of living in Lativa

Latvia’s per capital income is about €13.500 per year. Whereas, the people there only spend €3.000 – €4.000 on key necessity on a yearly basis. Broadly speaking, cost of living in Latvia is remarkably less expensive than those of other European countries. Latvia’s residents are guaranteed to live fully and comfortably. 

Modern healthcare system

The World Health Organization recognizes Latvia’s healthcare service as meeting Europe standards. The public hospital system here is modernly equipped with high qualified medical staff. Hospital-goers will receive a considerable financial support if they have health insurance. 

should you reside in Lativa?

LATVIA RESIDENCE BY INVESTMENT PROGRAM 

Lativa’s residency by investment program is the easiest and fastest way to obtain the European passport. Therefore, for your question “should I reside in Malta”, our experts would say yes. This is by far an excellent type of investment in the new era. 

If you have decided to reside in Latvia, its residency by investment program can be of great help. This program is an attractive option for investors thanks to its quick processing time and transparent procedure. Latvia is also home to the most “economical” residence by investment program in Europe. 

Investors can opt for one out these following four methods of investment:

  • Purchase a property that is at least 250,000 EUR plus a financial contribution of 5% (of the purchase price) to the Government 
  • Investing 50,000 EUR in the equity capital of a Latvian company and a financial contribution of 10,000 EUR;
  • Investing 280,000 EUR into the subordinated capital of a Latvian bank for a period of five years plus a financial contribution of 25,000 EUR to the Government;
  • Purchasing government bonds with an amount of 250,000 EUR plus a financial contribution of 38,000 EUR to the Government;

Benefits of participating in the program: 

  • Obtaining residence permit for your entire family;
  • Quick processing time just 1-3 months;
  • Investing with the lowest investment fund in Europe;
  • No requirements on minimum residence period in Latvia; 

SHOULD YOU RESIDE IN LATVIA – BENEFITS OF BECOMING MALTA PERMANENT RESIDENTS 

Once joining Latvia’s citizenship by investment program, investors and their entire family are eligible to enjoy benefits catering European citizens as follow:

  • Visa exemption to 183 countries;
  • Residing, studying and working freely in Latvia for your entire family;
  • Enjoying the education system as native people with affordable tuition and many scholarships; 
  • Accessing modern healthcare system with financial support from the Government; 

CONCLUSION – Should you reside in Latvia?

Should you reside in Latvia? Investors may have found the answer for themselves after going through our experts’ analysis in this post. Latvia’s residement by investment program has become popular among Vietnamese investors and this country is such an ideal place to start-up. With its latest achievements, this Balkan country is the “dream land” for a brighter future, and a promising destination for families who wish to reside in Europe. 

To learn more about Latvia residement by investment, contact us at Portico & Bridge. Our team of over 50 experts from all around the world is willing and ready to offer you our best service

Call us at 0909.898.758

At PORTICO & BRIDGE, “Your Children We Care”.