The Latvia golden visa sets certain conditions for third country nationals requesting a residence permit for real estate ownership.
Conditions
- Total value of the real estate is at least EUR 250 000,
- No more than two properties allowed.
- No vacant land allowed.
- No real estate tax debts
- payment of the total real estate value has been made by non-cash settlement
- The person must pay 5% of the real estate purchase value into the state budget;
- real estate must not comprise agricultural land or wooded land,
Property Ownership
- Legal entity – has been purchased from a legal entity registered in the Republic of Latvia or a Member State of the European Union, any country of the European Economic Area or the Swiss Confederation and which is a taxpayer in the Republic of Latvia within the meaning of the tax laws of the Republic of Latvia;
- Natural Person – the real estate has been purchased from a natural entity who is a citizen of the Republic of Latvia, a non-citizen of the Republic of Latvia, a citizen of the European Union or a foreigner who is staying in the Republic of Latvia on the basis of a valid residence permit,
Cadastral Value
The total cadastral value of the real estate is at least EUR 80 000 at the moment of purchase. If a foreigner has acquired two immovable properties outside Riga or Jurmala, or in Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils or Stopini municipalities, cadastral value of each immovable property at the time of acquisition thereof shall be at least EUR 40 000. If the cadastral value is below the amounts referred to in this sub-clause, the total value of the real estate in accordance with the real estate market value determined by a certified real estate appraisal shall not be below EUR 250 000 or, if a foreigner has acquired two immovable properties – market value of each immovable property may not be less than EUR 125 000;