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.