26 UGLOBAL IMMIGRATION MAGAZINE
utilizing its membership to cultivate a dynamic environment that fosters trade , booming tourism , and thriving crosscultural collaborations .
INVESTMENT AMOUNTS AND OTHER REQUIREMENTS FOR LATVIA ’ S RBI VISA
Established in 2010 , the Latvian Residency by Investment program offers a range of flexible investment options . The most famous and relatively affordable option is an investment for 50,000 euro in a company . Others are :
• 250,000 euro direct real estate investment
• 250,000 euro government bond option might be difficult to process due to restrictions in bank internal policies .
After preparing all relevant documents , the Latvian RBI investors can apply in the respective Latvian Embassies wordlwide or , if they are from an eligible country and can enter Schengen legally , hand in their application documents directly in Riga .
The first review of the documents takes between 5-30 days , depending on the assessment speed chosen by the applicants . The residency decision usually can be expected within 2-3 months in case no additional documents are requested .
• 280,000 euro bank deposit route
Each of these investment pathways is subject to additional government and legal fees and grants Residency investors the right to obtain a renewable 5-year Temporary Residence Permit ( TRP ) in Latvia . This permit provides residency and work privileges within the country , as well as enjoy unrestricted travel within the entire Schengen Area .
There is no minimum stay requirement to maintain eligibility for the TRP . However , each 5-year TRP ( except the government bond option ) requires renewing the eID Residency Card identity card annually , which is a swift procedure but requires an in-person appointment in Latvia . After five years , the TRP can be renewed for another term if investment requirements are still in place . For those residents who plan to reside in Latvia and learn the language , there is an option to apply for permanent residency after five years and citizenship after another 5-year term .
“ Leveraging its unique geographical location as a bridge connecting the East and the West , cultivate a dynamic environment that fosters trade , tourism , and cross-cultural collaborations .
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An eligible main applicant must be at least 18 years of age and can include in their application their spouse and all children under 18 years of age . Besides well-known globally sanctioned countries , there
are no restrictions on any other nations ; due to strict Anti- Money Laundering ( AML ) laws in the EU , some countries
PHILIPPE MAY
The Hon . Philippe A . May is the Swiss-Singaporean CEO of EC Holdings . He is a qualified Associate Financial Planner and a member of the Global Investor Immigration Council , as well as the Financial Planner Association of Singapore . He holds a bachelor ' s degree in business administration and an executive diploma in international diplomatic law for honorary consuls from UNITAR , Geneva . May has extensive experience in diplomacy , private banking , insurance , and residence and citizenship planning . In addition to being featured in various industry publications , May has been a speaker and panelist for various investment migration and financial industry conferences . He speaks English , German , French , Chinese and Spanish .