New immigration law amendments have barely entered into force, but Latvian politicians are discussing new changes again. At this time, the Ministry of Finance of Latvia has offered to give residence permit for foreign investors purchasing interest-free special purposes government bonds without fixed income for five years, informs the ee24.com with reference to the Latvian media.
According to the proposal, made by the Ministry of Finance, such new state securities will be redeemed at par value, won’t appear in public trading or taken as a deposit and won’t be foreclosed. Government bonds allow interest free borrowing of additional investments from foreigners for a period not exceeding five years.
Since September 1, 2014 a residence permit given for real estate purchase in Latvia increased in price up to €250,000. According to new rules, residence permit may be obtained for purchasing interest-free government bonds worth €250,000 at par, with another €25,000 to be paid in the state budget.
October 21, 2014 Commission of the Latvian Parliament on defense, internal affairs and corruption prevention approved exclusionary amendments to the immigration law, regulating ban on issuing a residence permit in Latvia for the Russians and sent them for further approval. The final decision is to be taken by the Saeima and the President of Latvia.