Month: April 2010

Saeima commitee alters Immigration Law provisions regarding temporary residency permits in Latvia

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Excert from Baltic-Course.com

  • The Saeima Economic, Agricultural, Environmental and Regional Policy Committee decided today, reviewing  amendments to the Immigration Law, to change the  conditions for issuing  temporary residency permits, introducing  a provision that such five-year permits can be issued  if the applicant has invested no less then LVL 25,000 in the share capital of a Latvian company, and the company has paid  no less then LVL 20,000 in the state and municipal budget.
  • The provision originally stated that the amount of tax payments by a given  company must be LVL 10,000, and that the company must employ no less then five people. The Economic, Agricultural, Environmental and Regional Policy committee decided to change this provision, because it would be hard to check how many people are actually employed by the company, therefore taxed paid by the company  is the most important criterion, writes LETA.
  •  The Economic, Agricultural, Environmental and Regional Policy committee also approved a proposal today that five-year  temporary residence permits would be available to persons who buy property in Riga, with the total transaction value of no less than LVL 100,000, or a property outside  Riga with the total value of transactions of no less then LVL 50,000.
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