How to obtain a Schengen residence (in Europe)
Latvia extend residence permits to foreign investors
For Latin American citizens and foreigners in general, a new path that would facilitate the acquirement of the a Schengen residence has emerged. With a residence you would not have to worry about crossing borders in most European Union countries,and this can be done by investing in Latvia. That nation's parliament adopted amendments to the Immigration laws and thanks to this, a person can invest in Latvia and receive a residence permit.
The Schengen residence permit, provided by the Latvian authorities have a duration of five years, but may be renewed after the end of this period of time. The permit is valuable because with it you would be guaranteed freedom of movement by most members of the European Union, as well as by third countries.
The parliament, in its amendments to the law, established at least three ways to obtain residence permits by investing in Latvia. It is important to note that residence permits are available for the person seeking to invest in Latvia as members of your family, spouse and under age children, including those who are under the legal custody of the investor.
The first of the way to obtain a residence permit in Latvia is to invest at least 36 000 euros in a company of that country and pay corporate taxes for a minimum amount of 28 thousand euros per year.
A second way would be to invest in Latvia at least 143 000 euros in the purchase of a property in Riga, the capital of the nation, or in another country's largest cities, while if the person wishes to invest in Latvia, but in a village without much development, then the figure to use would be 71,500 euros.
The third way to obtain residence permits to invest in Latvia would be by placing a deposit in a Latvian bank, at least 286 000 euros, subject to a period of five years in one of the most historic Latvian banks and prestige. This financial institution based in Riga, also has subsidiaries in France, Romania, Russia, Belarus, Ukraine and Kazakhstan. This bank is one that is considered valid to invest in Latvia and placed there the required figure to which the person would get for him and his family, longed residence permits.
In times when there is increasing talk over deportation of Latin Americans living in Europe, with strong anti-immigrant laws and right-wing governments in key countries in the so-called Old Continent, it seems more attractive the possibility of investing in Latvia and through this mechanism, then get the residence permit of residence represents the Schengen Visa, therefore, there would be worried-less and free to movement in most European space.
Countries covered by the Schengen area (where no border controls apply):
Austria, Andorra, Belgium, Bulgaria (from 2011), Vatican City, Hungary, Germany, Greece, Denmark, Iceland, Spain, Italy, Cyprus (from 2011), Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania (from 2011), San Marino, Slovakia, Slovenia, Finland, France, Czech Republic, Sweden, Switzerland, Estonia.
Price: EUR 6.000 (Tramits and bank account opening)