ABLV Bank, AS
23 Elizabetes Street
Riga, LV-1010, Latvia 		Tel: +371 6777 5222
Fax: +371 6777 5200
Client line: +371 6777 5555
E-mail: info@ablv.com

www.ablv.com
ABLV
Services / Advisory / Legal Advice /

Latvian Residence Permits

A residence permit allows travelling in Schengen area without visa. Moreover, you don’t need to stay in Latvia permanently to maintain the residence permit.

On July 1, 2010, amendments to the Immigration Law became effective, allowing foreign investors to obtain a temporary residence permit in the Republic of Latvia.
You can obtain a residence permit in Latvia in the following cases:

  • personally taking a subordinated loan from ABLV Bank;
  • personally purchasing real estate – our officers are ready to assist you in choosing property that matches your needs;
  • personally investing in a Latvian company capital.

Your spouse and minor children can claim a residence permit issued to them for the whole validity period of your residence permit.

Advantages of Latvian residence permits

  • Free travelling in Schengen area
    Residence permit allows staying in Schengen member states without visa.
  • Long validity period
    A residence permit issued under making investments is valid for the period up to 5 years.
  • No limitations on residing in Latvia
    Unlike many other Schengen states, Latvia does not require persons granted a residence permit to stay in Latvia permanently. At the same time, after obtaining a residence permit one can live in Latvia all the year round.
  • Relocation opportunity
    If a family (or some of the family members) considers an opportunity to move to Europe in future, a residence permit obtained in the European Union member state and residing there will be treated as a plus when applying for a status of permanent resident or citizen in some EU member state.

We provide advice and assistance in acquiring Latvian residence permits, and also search for necessary property in Latvia. Moreover, we offer you tax advice, including that on changing tax residence.

  • Additional Information for Customers

    Use your Internetbank ID and password to access customer information.

  • Apartment in Jurmala and residence permit in Europe

    Our client decided to get a residence permit in Latvia to be always able to freely travel within the European Union.

    • As the object of the required investment the client chose real estate. According to the criteria outlined by the client, we picked out an excellent apartment in Jurmala and completed the necessary documents to obtain a residence permit.

    • Two months after the first discussion of this issue with us, the client and his family have received the desired status. Now they are free to travel around Europe and always have the opportunity to stay in their apartment in the beautiful resort town on the Baltic coast.

    Sergei Deinekin

    Head of Private Banking Department West

  • The deal without any cause for worry

    Our client from Moscow picked out an apartment in Riga, which she planned to buy. She did not know the seller, so she asked us to help her with registration of the deal.

    • We organized a bank meeting with the client, the apartment seller and our representative. To close the deal successfully the parties agreed to use the escrow account through which our client was able to buy the chosen apartment without any worry. The seller was also satisfied with the payment procedure, because the escrow account supported his interests as well.

    • Since our client became the owner of real estate in Latvia, we also proposed to arrange the residence permit in Latvia for her family that would allow them to travel freely in the European Union. Within a few weeks this issue was successfully fixed, and our client’s confidence in our bank strengthen even more.

    Andrei Trofimov

    Head of Private Banking Department East

  • Sergei Deinekin
  • Andrei Trofimov