Practically the best option is investing in Latvian real estate. When investing in real estate, other regulations apply and foreigners only have to pay property tax. In addition, it is not mandatory to actually live in Latvia, so the property may be rented out and thus the return on the investment is possible.

Foreigners usually choose to obtain a residence permit by buying a property (apartment) in Latvia. The apartment is often bought as a buy-in, especially for families with children over the age of 18. The Latvian Migration Law provides that spouses and adolescent children (children under 18 years old) are entitled to a residence permit together with the main investor and do not need to make additional investments.

The process of obtaining a residence permit is relatively complicated and requires knowledge of local legal and procedural issues. Baltic Legal lawyers are experienced in this field and offer constructive advice to choose the best type of investment and take care of preparing all the necessary documents before submitting them to the Migration Office of Latvia.