FAQs
Frequently Asked Questions [toggle title="Is this legal?"]Absolutely. According to Latvian law (citation), any foreign citizen who passes a security check and can demonstrate a minimum amount of subsistence is entitled to a 5-year renewable resident permit [/toggle] [toggle title="How long is the resident permit good for?"]A resident permit is issued for a period of 1 year and is renewed annually for a period of up to 5 years. The renewal requirement is to demonstrate that the company that the individual has capitalized has paid a minimum of €28,500 in Latvian taxes during the previous year. Investco will automatically file appropriate paperwork for each individual demonstrating that Investco has paid the minimum tax requirements and will make all arrangements for annual renewal on behalf of the client. All annual renewal filing and processing fees are included in the initial €40,000 share capitalization. [/toggle] [toggle title="Do I have to stay in Latvia once I get my permit?"] No. There are no residence restrictions that require the permit holder actually be present in Latvia for any minimum number of days. It is possible for the resident permit holder to travel to or reside in any country within the Schengen Area for a period not exceeding the validity of the Latvian resident permit. The resident permit holder may also choose to live or travel outside of the Schengen Area for any period of time without affecting the validity of the resident permit. If the resident permit holder wishes to later apply for a Permanent Resident Permit they must demonstrate bona fide proof of continual residence in Latvia during the 5-year period. [/toggle] [toggle title="How long does it take to get the resident permit?"] It is possible to receive the resident permit in as little as 10 days from the date of acceptance of an application, depending on the citizenship of the applicant. Citizens of some countries may require additional security checks, which could take at least 90 days. [/toggle] [toggle title="Is it possible to renew the resident permit after 5 years?"] Yes. It is possible for the resident permit to be extended following expiration of the initial 5-year period. According to current law, such an extension, however, requires that the permit holder’s agreements with Investco are simply amended to extend this period for an additional 5-years. No additional capitalization is required, however permit holder must cover costs of renewal fees. [/toggle] [toggle title="At the end of the 5-year period, is it possible to apply for permanent residence?"] Yes. Upon expiration of the initial 5-year term of the resident permit, the permit holder may apply for permanent resident status provided they demonstrate they have continually resided in Latvia during the 5-year period. Permit holder may also apply for residence in any other Schengen country, according to the laws of that country for temporary residents. [/toggle] [toggle title="How can I find out more?"] Fill out the contact form on the right side of the screen. We will be in touch very soon. [/toggle] [toggle title="Can you provide references?"] Yes. We have obtained resident permits for many people. We will be happy to put you in contact with one or more of them. [/toggle] [toggle title="I'm a (lawyer/law firm/immigration consultant). I want to offer your services to my clients."] We offer a very generous commission for each completed permit. Fill out the contact form on the right hand side of the screen, and we will be in touch very soon. [/toggle]
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