Residence permit in Latvia will cost €250,000

Residence permit in Latvia will cost €250,000

The cost of real estate in Latvia, which provides a right for obtaining a residence permit, may be increased to a quarter of a million euros. At least, the coalition of ruling parties will try to adopt this amount, according to ee24.com citing varianti.lv.

To increase the minimum threshold in 1.75 times, from the current €143,000 to €250,000, parties will have to gather support of not only the majority of deputies of the Sejm, but also of President Andris Bērziņš, who eventually will sign the final text of amendments to the immigration law.

Politicians have discussed only amendments related to the minimum cost of real estate. The introduction of annual quotas or the probability of selling a residence permit in Latvia for € 50,000 were not items of the agenda. Recall that the voting on amendments will take a place in the Parliament on April 10.