On 8th May, SAEMA approved the final reading of the amendments to Immigration Law to come into force as of 1st September, 2014. The amendments provide that the real estate price limit that grants to foreign nationals a right to obtain a residence permit in Latvia for five years is increased up to EUR250,000.
According to the amendments, as at the moment of purchase, the price of one item must not be lower than EUR250,000, and its cadastral value must not be lower than EUR80,000, this rule will be applicable in all Latvian regions. Furthermore, a proposal concerning payment of 5% of a real estate price to the budget if a residence permit is requested for the first time was also approved.
Source: lanida.lv
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