Download Latvia Immigration Information
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If you have obtained One or more immovable properties in Riga, Riga planning region or any other republic city amounting to at least LVL 100000 (Euro 143000 or around INR 1 crore) or
One or more than one immovable properties in regions other than Riga, Riga planning area or other republic cities for an amount of at least LVL 50000 (Euro 72000 or around INR 50 lakhs), you can file for the TRP once the effects have been transferred in the deal and the ownership rights have been entered in the Land Cadastre.
The property deal to be effected must be post July 1 2010.The funds must be transferred from your bank account to the seller’s account, or through an escrow account. There should not be any tax debt on property in Latvia. It is advisable not to mortgage the property in order to enter a real estate deal. You must furnish proofs of real estate tax payments.
It takes around 10 days to prepare necessary documentation for executing the purchase and registration deal and endorsement into the land cadastre. State authorities charge a fee of 2 % on the value of registration.
Our Latvian associates can assist you in locating suitable properties, finding tenants, managing property, provide legal support and take care of the property proceeds when you are out of Latvia.
For quick reference 1 LVL = App 2 USD
Also Read
Latvia Temporary Residence Permit Overview
Latvia Temporary Residence Permit (Latvia TRP) – By Investing in Equity Option
Latvia Temporary Residence Permit (Latvia TRP) – By Investing in Subordinate Capital