64,559 sq. km
Full Schengen members (EU member states which have implemented the Schengen Agreement)
Associated Schengen members (non-EU member states which have implemented the Schengen Agreement)
EU member states outside the Schengen Area
Latvia is a member state of the European Union (EU), NATO, Schengen zone and is an active participant in World Trade Organization enjoying all the benefits of free and open trade in global markets. Latvia's economy has shown the highest growth rates amongst the EU member states in 2011 and 2012.
On July, 2010 the Latvian parliament adopted Immigrant Investor Program (id est passed an amendments to Immigration law), which provide an opportunity to non-European Union citizens and their families to obtain a Residence Permit enabling to live in Latvia or any other EU country (limited total 180 days per calendar year) and to receive an unconditional visa for travelling within the Schengen Area.
Already more than 7300 investors (from Russia, China, Ukraine, Kazakhstan, Uzbekistan, USA, Israel and others) have invested in Latvian Immigrant Investor Program to secure the visa free access to Europe, with total investment volume of € 1.414 billion. In exchange of purchasing Latvian real estate or committing an investment in share capital of Latvia registered company of at least €50,000 in value, successful Immigrant Investor Program applicants and their family members receive Residence Permit to live and travel in the Schengen Area of Europe.
64,559 sq. km
Russia, Lithuania, Estonia, Belarus
from January 1, 2014
Moody’s: A3 Stable
S&P: A- Stable
Fitch: A- Stable
Residence Permit is issued in the form of an electronic ID registration card with a photo and biometric data (fingerprints and a digital facial image), which is officially recognized by all Schengen states for intra Schengen travel.
Residence Permit is issued in exchange for investment in Latvian economy. Single investment qualify investor's family members (spouse and children under 18 years) to obtain Residence Permit with similar rights to reside in Latvia and to travel within the Schengen Area.
Residence Permit requires annual re-registration to test the validity of the grounds it has been issued, respectively, investor has to verify that investment in Latvian economy is still effective. Residence Permit is issued for 5 years and can be continuously extended for unlimited term.
Residence Permit allows investor and his/her family members:
• to reside in Latvia for an indefinite period as long as Residence Permit is effective,
• to reside in other states of the Schengen Area apart from Latvia for a period not exceeding 180 days within one calendar year,
• to work and study in Latvia.
Residence Permit is not a work permit to work in other states of the Schengen Area.