Residence permit in Latvia automatically entitles to free movement on the territory of all Schengen countries.
Temporary residence permits in Latvia can be obtained by the owner of real estate, worth at least 100 000 lats (EUR 143,000), and their family members - spouses, minor children and persons who are under the care / custody of the owner. On expiry of residence permit the owner and his family will be able to apply for its renewal, for a permanent residence permit in Latvia, and later on the permanent resident status in the European Community.
Residence permit should not be confused with the Schengen visa. There are certain similarities - both of them give possibility to enter the Schengen countries, but then the similarities end here. Residence permit - a resident status. It has no time limit for staying in Schengen countries.
The holder of residence permit in Latvia does not have to travel outside the Schengen area for the annual re-registration, and take your passport for an indefinite term in state immigration authorities, as it is with a Schengen visa.
On receipt of a temporary residence permit freedom of movement is not restricted in any way for at least five years. Accordingly, if you have a need urgently go to any of the Schengen countries, you will not have to wait for a visa and will not have to return to your country, to extend the visa.
What is residence permit in Latvia and its pluses.
- A residence permit in Latvia, provides the ability of being in a country and visa-free travel in all member states of the Schengen agreement, without restrictions of time to stay;
- A residence permit in Latvia substantially facilitate process of obtaining visas to countries such as USA, UK, Australia, Canada. Functioning residence permit, allows all documents for the visa to be filed from Latvia;
- Provides the right to work in Latvia;
- Provides the same social benefits as citizens of Latvia have (unemployment benefit, maternity benefits, medicine, education, etc.);
- At the expiration of five years residence on the territory of Latvian Republic a person may apply for permanent resident status in the EU;
- The holder of residence permit in Latvia has the right to purchase cars registered in the LR and exploit them in other countries without customs clearance. The difference in the price of one and the same the car in Latvia, and for example, in Ukraine can reach up to 100% depending on the type of car, its year of release, and other factors;
- A residence permit in Latvia, provides a possibility for obtaining a driver's license, valid in all EU countries without any restrictions;
- After 5 years, the holder of a temporary residence permit have the right to apply for a permanent residence in Latvia, which gives the right to move freely and live anywhere in the Schengen area without having to stay in Latvia, 180 days or more. After another five years, the applicant has the right to apply for citizenship of the Republic of Latvia, which gives the right to move freely and live anywhere in the Schengen Agreement, the European Union, as well as be in the U.S. and Canada without a visa.
Europe is closer than you think!