🏢 Residence permit in Latvia while doing business: conditions, process, advantages
Latvia is one of the few countries in the European Union that offers a real opportunity to obtain a residence permit (UA) by opening and running a business. This is especially relevant for entrepreneurs who want to combine the development of a European project with the opportunity to live and travel around the Schengen area.
In this article you will learn how to obtain a residence permit in Latvia while doing business, what conditions must be met, what advantages it provides and how to avoid common mistakes.

✅ What is a residence permit when doing business?
It is a temporary residence permit issued to a foreigner (who is not a EU/EEA citizen) who has opened or invested in a company registered in Latvia. This residence permit entitles:
* live in Latvia
* move freely within the Schengen area
* conduct legal business
* apply for residence permits for family members

📌 Grounds for obtaining a residence permit while doing business in Latvia
According to the Latvian legislation (Immigration Law), a residence permit can be obtained on the basis of the following conditions:
1. Foreign investor or company founder
If you are:
* the founder and/or member of the board of the Latvian company,
* the company is actively engaged in economic activities,
* you have invested at least 50,000 euros in the company's share capital,
📍 A residence permit is issued for a period of up to 5 years with annual renewal if the conditions are met.

2. Investments in fixed capital + taxes
This is the most popular and safe way. Requirements:
* Minimum share capital: from 50 000€
* Every year the company must pay taxes to the Latvian budget in the amount of at least 40 000€
* The company must carry out an active economic activity (office, website, employees, contracts)
💡 A residence permit can be obtained not only by an investor, but also by a member of the board, if he will conduct business on the spot.

🧾 A package of documents for obtaining a residence permit when doing business
To file with the Office of Citizenship and Migration Affairs (PMLP), you will need:
1. Application for a residence permit
2. Passport + notarized translation
3. Investment certificates (bank statements, registration documents)
4. Company Articles of Association and Registration Documents
5. Extract from the commercial register (Lursoft or UR)
6. Document confirming the place of residence in Latvia
7. Certificate of absence of criminal record from the country of citizenship
8. Confirmation of payment of state duty
9. Office lease agreement (if any)
10. Financial statements on the activities of the company (if any)
📌 All documents must be translated into Latvian and certified.

💼 Requirements for the company
To confirm the right to a residence permit, the company must be real and active, not fictitious:
* Registration in the Latvian Register of Enterprises (UR)
* Open bank account
* Taxes and fees paid
* Real contracts concluded (with suppliers, tenants, customers)
* Website and contact information available
* If necessary - employees with employment contracts
📌 The PMLP has the right to carry out an on-site inspection and request additional evidence.

👨 ‍ 👩 ‍ 👧 Residence permit for family members
According to Latvian legislation, family members (spouse and minor children) can obtain a residence permit on the basis of your residence permit:
* Separate applications are submitted
* Proof of kinship required
* Sufficient financial security is required for the family to live in Latvia

🌍 Advantages of a residence permit in Latvia when doing business
✅ Residency and legal status in the EU

✅ Free movement in the Schengen countries

✅ Access to the EU banking system

✅ Possibility to open accounts in Latvian and European banks

✅ Simplified tax scheme

✅ Relatively simple restoration procedure

✅ Possibility to apply for a permanent residence permit or citizenship in the future

⚠️ Possible reasons for refusal
* Fictitious or inactive company
* Violations in the documentation
* Insufficient investment
* Non-payment of taxes or debts to the state
* Penalty or ban on entry into the EU
💡 To avoid rejection, it is recommended to cooperate with professional lawyers who are familiar with Latvian migration and commercial law.

⚖️ Legal assistance from Lex&Finance
Lex&Finance law firm offers a full range of services for opening a company and obtaining a residence permit in Latvia:
* Consultation and selection of the optimal foundation
* Company registration on a turnkey basis
* Preparation of all documents for applying for a residence permit
* Assistance in finding real estate and office space

* Support at all stages - from the idea to obtaining a residence permit card
📞 We will help you to get a residence permit in Latvia legally and efficiently while doing business, without risks and red tape.