Duration of the application process:
- Real estate purchase procedure – starting from two weeks;
- Preparation of documents to submit for obtaining a residence permit - depends on the individual;
- Submission of the application to the Latvian Embassy or Consulate - usually once a week;
- Decision made by Office of Citizenship and Migration Affairs – up to 30 days;
- Entry visa for arrival in Riga - minimum three days;
- Medical examination and insurance in Latvia – minimum one day;
- An inset for the passport – one hour.
- the real estate must be purchased after 1 July 2010;
- the total value of the property will be defined according to the amount of the deal registered at the Land Register;
- the property has to be purchased from legal entity registered in the Republic of Latvia, physical person being citizen of Latvia, non-citizen of Latvia, European Union citizen or foreign person residing in Latvia with a valid residence permit. If the property is bought from other person, it is not possible to apply for temporary residence permit;
- the foreign citizen has not and never had any debt commitments towards the state of Latvia;
- transaction amount has been paid in the form of clearing settlements;
- foreign citizen is eligible to obtain temporary residence permit if he has bought the real estate using a bank loan. The bank loan can be allocated both by foreign and Latvian crediting institutions;
- Along with a foreign national, documents to apply for residence permit may be submitted also by:
- spouse of the foreign national,
- their underage (and dependent) children,
- individuals under the foreigner’s guardianship;
- All the family can apply for residence permit together;
- Temporary residence permit for minor children is allocated only until they reach lawful age.
Opportunities of travelling within Schengen area while holding a residence permit for a Schengen state.