"Latvian Coast" is no longer attractive - the number of "gold visas" declined

Aug. 27, 2015

"Latvian Coast" is no longer attractive - the number of "gold visas" declined

After raising the threshold for obtaining a residence permit in Latvia through the acquisition of property - to €250 000 in Riga region and up to €125 000 outside the capital district, the number of non-residents of the EU demand for the service has fallen sharply. At the same time the most active buyers for obtaining residence permits are still Russians.

Over the past 5 years, "Golden visas" have been issued to 13,583 foreigners. 82% - to Russians, 9.6% - to Chinese, 9% - to Ukrainians.

The reduction is evident: in 2014 5311 residence permits were issued, and for the first half of 2015 - only 415. 82% of them - the citizens of Russia. 
59 objects were purchased in Riga, 28 - in Jurmala, the rest - in other regions of the country.

According to the materials of DELFI.lv
Photocredit depositphotos.com