Practically the best option is investing in Latvian real estate. When investing in real estate, other regulations apply and foreigners only have to pay real estate tax. In addition, it is not mandatory to actually live in Latvia, so the property may be rented out and thus a return on investment is possible.
Foreigners usually decide to obtain a residence permit by buying real estate (apartment) in Latvia. The apartment is often purchased as a joint purchase, especially for families with children over the age of 18. Latvian migration law provides that spouses and minor children (children under 18 years old) are entitled to a residence permit together with the main investor and do not need to make additional investments.
The process of obtaining a residence permit is relatively complicated and requires knowledge of local legal and procedural aspects. Baltic Legal lawyers have experience in this field and offer constructive advice on choosing the best type of investment. Also, they take care of preparing all the necessary documents before submitting them to the Migration Service of Latvia.