Residence permits for foreign investors & Real estate management services

Residence permits for foreign investors & Real estate management services

About us The company’s main business One of the company’s main activities is the attraction of foreign investors who are interested in buying real estate in Latvia in exchange for a temporary residence permit in the Republic of Latvia as a European Union member country for a period of 5 years.

The other activity is the management of the real estate that the investors have bought. This allows the investors (the new owners of the apartments and houses) to be fully confident that during their absence their property will be looked after.

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

About Latvia

The Republic of Latvia The Republic of Latvia (Latvian: Latvijas Republika) is a country in northeast Europe. The former Soviet republic independent in 1991. West of the Baltic , and in its northern Estonia and Lithuania in the south of it, known as the three Baltic countries . The East is adjacent to Russia , Belarus .

September 20, 2003 through a national referendum, the Latvians voted to join the European Union the identities of its Member States with effect from May 1, 2004. Latvia and the North Atlantic Treaty Organization ( NATO) Member States, on March 29, 2004 December 21, 2007, the Schengen Member States. Thorough economic reform in Latvia have to change the former Soviet Union’s rigid economic model, and the eventual establishment of the capitalist market economy in Western Europe .

Chinese name:

The Republic of Latvia

Name:

Latvia

Referred to as:

Latvia

Respective continents:

Europe

Capital:

State leaders:

Riga Riga, the Daugava Pierce, Liepaja Latvian Lats Parliamentary system republic Andris Berzins

Population density:

36/km2

Major religions:

Catholic 64,589 square kilometers 12,622 U.S. dollars

Major Cities: Official language: Currency: Political System:

Land area: Per capita GDP:

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Our services Receiving the residency permit for 5 years in the European Union The residency permit gives you the right to travel within the Schengen Area without a travel visa.

Requirements for the acquisition of the residency permit: Persons who have bought one or more real properties located in Riga, Riga Planning Region, or a city of the Republic of Latvia with the total value of the transactions not less than 100 000 LVL (143 000 EUR) or one or more real properties located outside of Riga, Riga Planning Region, or a city of the Republic of Latvia with total transaction value not less than 50 000 LVL (72 000 EUR). This requires an invitation letter.

Persons who have made financial investments in a credit institution of the Republic of Latvia and the investment amount is not less than 200 000 LVL (285 000 EUR) in the form of subordinated capital (subordinated loan or subordinated bonds) of the credit institution and maturity of the transaction is not less than five years, and the deposit agreement cannot be terminated prior to its maturity date. This is the easiest and simplest way.

Persons who have invested in equity capital of a capital company not less than 25 000 LVL (33 500 EUR) and in the course of every financial year shall pay not less than 20 000 LVL (28 500 EUR) in taxes to state and municipal budget. This requires an invitation letter.

Persons who conform to the aforementioned requirements are entitled to submit documents for the residency permit of the Republic of Latvia.

Also the family members – spouses, minor children and children under guardianship of the investors are allowed to receive the residency permit.

For more information please visit: http://www.pmlp.gov.lv/en/pakalpojumi/uzturesanas.html Our experienced lawyers and consults will help you with juridical questions as well as the preparation of documents so that you receive the permit of residency regardless of which of the above options you choose.

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Our services Finding and managing real estate properties based on client requirements We cooperate with the largest real estate companies in Latvia. Our database consists of hundreds of apartments, houses and lands.

Information about a certain property is prepared based on the request and chosen residency permit option. Afterwards it is sent as e-mail to the person who requested it.

Buying of real estate (apartment, house, land) Document preparation, hotel reservation, meeting and escorting from the airport or train/bus station.

Inspection of properties, preparation of down payment contracts, preparation of the sales contract, notary and lawyer services, registration of property in the Unified Land Register.

The rates are discussed with the customer prior to the deal.

If a real estate property is being bought, the rates of residency permit preparation are determined by the Republic of Latvia (as indicated here – http://www.pmlp.gov.lv/en/pakalpojumi/cenradis.html). All payments are only accepted by wire transfers from one bank account to another.

We also consult regarding the choice of financial institutions in Latvia and account creation both for natural and legal persons if a necessity arises.

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Our services The management of your real estate You will not have to worry about the security of your property during your absence because we provide services that will not only keep your property safe, but also increase it’s value.

We provide:        

Property insurance; Security systems installation (security cameras and alarms); Technical management (utilities management, bill payment); Representing the owner’s interests in the general meetings regarding the property management; Addressing issues with the local building owners if the property is part of a dispute; Providing the property for rent if a specific contract is signed with the owner; Changing the name on the utility contract to the name of the new owner; Property cleaning services by agreement but at least once per month.

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Property gallery Possible property investments

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Frequently asked questions 1. How much do I have to invest in order to get residence permit in Latvia?

You can buy a property in the capital city of Latvia- Riga or other popular cities – Jurmala, Daugavpils, Liepaja, Jelgava, Ventspils, Rezekne etc. for the value of 100 000 Ls (200 000 USD). Or You can purchase a property in less popular cities for the value of 50 000 Ls (100 000 USD).

2. What are the basic and mandatory costs to settle all necessary documentation to get a residence permit in Latvia?

Mandatory costs: Latvian State fee (if documentation is made in 30 days) is 140 USD per person. Latvian State fee (if documentation is made with accelerated procedure-10 days) is 340 USD per person. Certified medical certificate that you don’t have tuberculosis. This certificated costs 50 USD and is valid for following year. Health insurance policy with a limit of 30 000 Ls (approximately 60 000 USD) a year – the cost is 50 – 80 USD for each family member.

3. In how long period of time it is possible to obtain a Latvian residence permit?

You can obtain a Latvian residence permit in 30 days.

4. Are there special terms in order to obtain a Latvian residence permit?

There aren’t special conditions. Person, who is willing to obtain a residence permit, has to be law-abiding, with legitimate income and the transactions have to be carried out by the bank.

5. Is a Latvian residence permit issued for five years?

In the beginning a residence permit is issued for one year and after this period of time it is necessary to extend it. In order to do it, you have to submit documentation, 90 days before permit expiry, showing that you don’t have any debt and all taxes that are related to the property are paid.

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Frequently asked questions 6. Are there any limitations for staying in Latvia?

There are no limitations to stay in Latvia.

7. Do I have rights to work in Latvia if I have a residence permit?

The residence permit gives you and your family rights to work in Latvia. As well as receive a social care (medical care and other).

8. Is there a possibility to study in Latvia for students from aboard, who don’t speak Latvian?

There are schools in Latvia, where it is possible to get a secondary school and a high school education in English.

9. Does a Latvian residence permit gives me rights to travel and stay in another EU country?

With a Latvian residence permit you are allowed to travel to any EU and Schengen zone country. More common it is up to 90 days.

10. How much in average does cost one-day stay in Latvia, while all documentation is done in order to get a residence permit?

Basic costs: Hotel (including breakfast and dinner): 70 USD/day, urban transport: 10 USD/day, dinner in restaurant or cafĂŠ: 20USD-40 USD/person.

11. Is it complicated to purchase a property in Latvia and how long does it takes?

You can buy the real estate in Latvia (apartment, house or land) relatively fast. Documentation process can take one or two days, property registration takes around 30 days and you have to be aware that payment can be paid only with bank transfer.

12. Can I buy more than one property?

In order to obtain residence permit, property quantity is not limited, but the value of properties cannot be lower than 100 000Ls (around 200 000 USD) or 50 000Ls (around 100 000 USD). The value depends on city and its region.

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Frequently asked questions 13. In which city is better to buy a property- an apartment?

We recommend the capital city of Latvia- Riga, or most popular resort city in Baltics- Jurmala.

14. How long does it take to obtain a tenant for an apartment?

It depends on monthly lease payment. More common it is one or two months. Average rent is 200 Ls per month (375 USD) and tenant pays utility costs (electricity, heat, water etc.) himself.

15. Am I able to find an interpreter in Latvia who speaks Chinese?

The company provides Chinese interpreter at all times it is needed. It is paid service.

16. What language are sorted documents, that confirms my right of real estate?

All documentation is done in Latvian, but company provides notary certified translations. It is paid service.

17. How big is an optional range for apartments in Riga?

The choice is very wide. We prepare offers and arrange meetings with property owners. In average we show 8-11 apartments per day (in Riga) or 3-5 per day apartments in another cities.

18. What is the population in the capital city of Latvia?

The population in Latvia- 2 067 887 people the population in the capital city of Latvia- 600 203 people.

19. Do I have an opportunity to engage in agriculture in Latvia, if I own a land there?

Yes, there are many opportunities in field of agriculture. The Latvian government contributes development of organic farms.

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com

Contact us Got questions? Get in touch now!

We work:

Address:

Phone and email:

From Monday to Friday 7:00 to 18:00

Olgerta 6, Jurmala, Latvia, LV-2008

Saturday 9:00 to 15:00

Our websites: http://bcroad.asia http://bcroad.ru

T: + 371 26333596 T: + 371 26447499 E: info.bcroad@gmail.com

Residence permits for foreign investors & Real estate management services / http://bcroad.asia / http://bcroad.ru / info.bcroad@gmail.com