Immigrating Via Latvia Temporary Resident Permit LTRP? What You Need To Know!

Latvia unfolds newer and more optimistic realms for both skilled workers and business enthusiasts. So, if you are looking forward to moving to the European continent, you will truly find Latvia to outdo all other competitors in the list.
This country enthusiastically invests in the human resources, and if you are ending up here, not only you will have a better access to education and healthcare, but also you will find a truly vibrant and atmosphere that would always keep you motivated.
In case you are looking for Latvia, Temporary Residence Permit or LTRP is one of the various ways that can be employed for facilitating instant movement.
It is an excellent gateway that has been helping immigrant to live their dream of living in the Baltic nation. So, you can also exploit this gateway and make the most from this dynamic country.
If you get the Latvia temporary residence permit LTRP, you will be hurled with a lot of benefits. Take a look at some of them that would definitely captivate you to vouch for this visa. The moment you have got the TRP for movement, you will get free entry to all Baltic and Schengen countries.
Owing to the Schengen treaty, you will get access to travel to 26 countries without any visa. At the same time, there is one more realm that opens when you get the Latvia Temporary Residence Permit LTRP. You will be held eligible to content for Permanent Residency (PR). There are also multiple admission rights that would accrue to your name the moment you shift to the nation under the LTRP Programme.
The best way that you can resort to for getting Latvia TRP is by going for a colossal investment. You can look forward to Limited Liability Company or Joint Stock Company that you can open to help you get the Latvia immigration visa. In the first place, the amount of investment will stand at a pegging EUR 36,000. This investment would solely be meant for establishing a new company.
The TRP is meant for 5 years and within this time period, you cannot sale the properties or reduce the amount of investment. Every year, there is also provision to apply for an extension, and it will be granted for one full year.
But you must, in all probability, meet with the basic dynamics that determine the extension, and in those dynamics the additional investment will find the top position. You will have to EUR 1, 43,000 to get an extension of one full year in the country.
At the same time, it is extremely mandatory to employ at least 15 employees in your enterprise. If you fail to meet with this, you will be solely responsible for the consequences that would accrue to your name.
So, if you are using the Latvian Temporary Residence Permit, you must keep these things in mind for a better stay.
Summary: If you are immigrating to Latvia through Temporary Residence Permit, you must keep note of some things for streamlining the stay.


Latvia Temporary Resident Permit LTRP—A Comprehensive Look

With mesmerizing beauty and beautiful landscape Latvia is located in Northern Europe and is a popular country among Non-European citizens. It’s perfect for those who wish to migrate to study, work, live or simply spend some memorable time with their loved ones on a family holiday. Latvia is just right country to immigrate as it has everything that one needs to live a happy and satisfied life.

This beautiful Baltic country has a low cost of living as compared to other European countries which means immigrants can easily save more on their earnings. In order to legally live or work in the country, one needs a residence permit. It’s an official document and makes one’s u stay in the country valid and gives him you the right to live, work or study.

Those who wish to visit the country for a short period of time should submit an application for Latvia Temporary Resident Permit (LTRP). Temporary Residence Permit is issued for up to five years depending on individual’s application.

Generally, a visa is issued for a period of one year. The visa holder needs to present an application for an extension of 90 days at the maximum or 30 days at the minimum before his Temporary Residence Visa expires or loses its validity.

Once a person has lived as a temporary resident in Latvia for five years, he may submit an application for Permanent Residency (PR), and once he has lived as a Permanent Resident for ten years, he becomes eligible to submit a petition for—well, you guessed it right–Latvian citizenship.

How to Get LTRP

Presently, one can get LTRP on these grounds:

  1. Investment
  2. a)   Not less than EUR 35 000 have to be invested in a firm with a figure of workers not surpassing 50 people. It is compulsory that the firm gives not less than EUR 40 000 of taxes to the state budget every year even as the yearly turnover shall not go beyond EUR 9000000.
  3. b)   Investment of EUR 150000 to a firm, minus any additional requirements.
  4. Acquisition of real estate

The bare minimum worth of the real estate in big cities of the nation is equal to EUR 141043. In the remaining areas the same ought to be not less than EUR 71150.

  1. Deposit in a bank

An outsider has to put a time deposit of not less than EUR 280 000 to any bank of Latvia for not less than 5 years.

Latvia Temporary Resident Permit LTRP Advantages

Permit holder enjoys many rights with par with Latvian citizens. Following are the some major advantages enjoyed by the Temporary Resident Permit holders:

  • Hassle free movement across the Schengen zone and the European Union (EU).
  • An easy opportunity to settle in other European country. What a blessing!
  • Complete freedom to invest or start a business venture.
  • Applicant can bring along his family members and can send invite to second degree relatives as well.
  • He enjoys the right to get subsidized education or gets a discount across the EU.
  • An easy way to receive a visa for other countries, like the USA, Australia, New Zealand, etc.
  • Right to enjoy social benefits, such as an easy access to medical healthcare, unemployment benefits and maternity leaves, etc.

These are just some of the benefits that greet the visa holders. There are some restrictions as well. The holder does not have the right to vote, run for election or hold a designation in state authorities or government institutions.

Coming back to the gains, for most of the immigrants, the biggest advantage of Temporary Residence Permit is that he automatically becomes eligible to enter the Schengen Zone and the EU without acquiring any additional visa or getting through the lengthy registration procedure which makes the complete process hassle-free and he can expand his business venture across the European length and breadth without giving a second thought.

The processing of application does not take more than 30 days from the date an application is accepted by the Latvia High Commission.

Summary: Latvia Temporary Resident Permit (LTRP) can be easily acquired. The procedure is crystal clear and one does not need to get through the lengthy procedure. The permit is issued for up to five years depending on the applicant’s needs with subject to further extension.