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Investors cheat for obtaining a residence permit in Latvia

29.11.2010
Homesoverseas.ru editorial office
48
The Latvian government intends to amend the law "On Immigration", relating to the issuance of residence permits to investors. The fact that the first four months of the law of potential buyers of real estate identified therein loopholes that allow to obtain a treasured its investor visa is not quite honest way. In particular, as at 12 November, the Office of Citizenship and Migration Board has received 68 applications for registration of temporary residence permits, of which satisfied 33. Most of the applicants (42 people) to seek investor visa on the basis of the Latvian real estate purchases (including approved 26 ), but the Department of experts repeatedly identified cases of fraud, when foreigners to obtain a residence permit recourse to fictitious real estate transactions. "In our practice, it was a case where the husband sold his wife Q2. m. apartments in Jurmala 100 thousand lats (141,182 euros). Both of them are foreigners. Thus, according to the law spouse can officially obtain a residence permit. State from this no benefit, except for state duty in the amount of 2% of the transaction amount, "- said the head of department of public relations of the Office of Citizenship and Migration Affairs Andrey Ryabtsev. After reviewing the situation, the government of Latvia has established a special working group to prepare amendments to the immigration law. Block transactions with relatives, of course, no one will. Just OCMA proposes to include in the law of the item, according to which the investor to obtain a visa, foreigners will have to buy property only to citizens or non-citizens of Latvia or European Union citizens. "This, in our opinion, will reduce the risk to enter into fictitious transactions between nationals of other countries and will help to attract funds to the real" - said Ryabtsev. According to him, according to the order of the Cabinet of Ministers of amendments to the Immigration Law will come into force no later than July 1 of the next year. According to the law "On Immigration", which came into force on 1 July 2010, the foreigner can obtain a temporary residence permit in Latvia, in the case if he will invest the money in the Latvian economy and contribute to its growth. One option - buy for 50 thousand lats (70,591 euros) in real estate regions or 100 thousand lats (141,182 euros) -.. In Riga, Riga district and cities of national importance. Another option - the introduction in the Latvian commercial banks subordinated capital in the amount of at least 200 thousand lats (282,365 euros) for a period of five years.. The third option - an investment in the fixed capital of Latvian companies at least 20 thousand lats (28,236 euros) According to the materials of the site.. http://www.dv.ee
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build area 305 sq. m
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