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Santa Garsniece.

Amendments provide that:

-          a foreigner may apply for temporary residence permit for a period up to 5 years upon contribution of 25 000 LVL into the equity capital of a company whose turnover or year balance does not exceed 7 million LVL and which employs up to 50 employees and pays  not less than 20 000 LVL in taxes annually;

-          a foreigner may apply for temporary residence permit for a period up to 5 years upon investing a sum of 100 000 LVL into the equity capital of a company or contributing the said amount into foundation of a new company;

-          a foreigner may apply for temporary residence permit for a period up to 5 years upon purchase of immovable property in Riga or biggest Latvianhj cities for a sum not less than 100 000 LVL (and said property’s cadastral value shall be 30 000 LVL), or elsewhere in Latvia for a sum not less than 50 000 LVL (and said property’s cadastral value shall be 10 000 LVL). Foreigner applying for a temporary residence permit will be obliged to purchase the immovable property only from a legal entity registered in Latvia, citizen of Latvia or other EU country, non-citizen of Latvia or a foreigner who holds a valid Latvian residence permit.