Latvia is the country that has attracted most investors to obtain a Golden Visa. This is basically caused by the low entry costs of a min. of 70.000 Euro. Around 450 Million Euro have been invested in Latvia in the last years from foreign investors in Golden Visa Latvia program … but now important changes are coming.
We have seen thousands of investors coming to Latvia to obtain the Golden Visa although Latvia until now was not in the Euro Zone. But the free Schengen Visa and the low entry costs made it up. It seems that Latvia was especially attractive the geographic neighbors like Russia, Kazakhstan.
2013 was an interesting and good year for the program in Latvia as financial crisis hit Cyprus and less people went there and the upcoming Latvia-entry to the Euro Zone in 2014. This caused already increasing real estate prices. It is expected that the Golden Visa Latvia program will change in 2014 to adopt it a bit to the similar schemes in Spain, Portugal and Ireland (with investment requirements of 500.000 Euros).
Basic information on Golden Visa Cyprus:
- Similar to other countries there are different schemes for Investors, Entrepreneurs, Students, high qualified workers
- Visa will be granted for 5 years and could be prolonged and will give you access to all the Schengen-Zone
- There is no minimum stay required
- Like in other countries you need to have a clean history (no jail, older than 18 years, invest need to come from a country that is not a fiscal island!)
- Deposit or acquisition of government bonds of around 300.000 Euro
- Investment in real estate (either min. of 70.000 Euro outside or min. of 150.000 Euro inside the main cities)
- Create a business with min. 36.000 Euro invest and yearly taxes of 28.000 Euro
Latvia is one of the cheapest places for Golden Visa Latvia. There is the infrastructure to do the Visa process in a fast track. The upcoming Euro entry of Latvia will give real estate prices a push, some changes in the Golden Visa Latvia program are expected for 2014 to adjust to other countries.