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
(287,996 $*) 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 (~92,159 $*);
- 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 (287,996 $) 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 18.07.2017