Non-EU investors will be issued TRP `temporary residence permit` with annual renewal. You have to visit Latvia while renewing the permit, takes 7-10 days. The TRP residence permit issued is a biometric card (replaces visa sticker) allows visa free travel to all 26 Schengen countries including Switzerland, Germany, France etc. plus non-schengen countries Romania, Bulgaria, Cyprus and is allowed to stay 90 days in every 6 month period in Schengen countries. It is also issued to any family members accompanying with the investor.
The temporary residence permit (TRP) grants the investor right of free movement to other European countries in Schengen zone. The investor is free to leave the country anytime and is not required to stay permanently in Latvia.
If the foreigner wants to apply for “permanent residence permit” after 5 years, he/she must have continuously stayed in Latvia for 4 years and 2 months for the past 5 years. Exception is the business immigration option.
Non EU citizens
Non EU citizens have to fulfil one of the below criteria to receive Temporary Residence Permit (TRP) based on investment activity such as real estate, board member or director in a company or bank deposit.
- The Investor, spouse and minor children, as well as dependants may apply for the residence permit valid for the period of 5 years.
- After a lapse of five years, the temporary residence permit (TRP) may be extended.
- TRP grants an investor the right to work in Latvia*;
- TRP is also granted to an investor’s family members;
- TRP does not oblige an investor and members to reside permanently in Latvia;
- TRP is issued for a period of five years;
- TRP shall be registered annually;