In terms of guaranteed freedoms and inviolability of property rights, you probably, interested in transferring your business to the territory of Latvia or the EU. For these purposes, we offer both the registration of companies and their legal support, including the issuing of a TRP for your employees. We will undertake the organization, decision making, and support of all necessary migration and legal issues.
TRP for an employee
TRP for an employee
In order for your employee to qualify for a TRP in Latvia, he must meet a few requirements, the main of which are the following:
- Work experience in the present position held for at least 3 years or completed secondary or higher education that required working in the present position.
- The wage must be at least € 926 gross (net from € 630).
- The applicant must not be in military service.
- The applicant must not have a criminal record, for which the penalty was imprisonment for more than 3 years.
- The applicant should not have any health disorders or diseases that threaten or may threaten the safety and health of the surrounding society.
- A company registered in Latvia must have a share capital of at least € 2,800.
TRP for a manager
A TRP for Latvia can be obtained by each fully legitimate representative of a commercial company in Latvia (LLC, JSC) or a branch of a foreign company registered in the Latvian Commercial Register, among them a member of the board, procurator, liquidator, administrator, or a representative of a foreign branch or representative office registered in Latvia. In order for such a representative to qualify for a TRP in Latvia, the structure registered in Latvia must conduct an active economic activity and create an economic benefit for the Latvian state (for the representation of a foreign merchant there are other requirements). The criteria for this economic return are as follows:
- A company registered in Latvia must have a share capital of at least € 2,800.
- The total amount of tax deductions paid to the state budget and local government must be at least € 21,350 per year or € 1,750 per month when calculated for an incomplete fiscal year.
- The company should not have any tax debts.
TRP for a company owner
A TRP for Latvia can be obtained by the owner of a commercial company in Latvia (LLC, JSC) who has made an investment in the shared capital of at least € 50,000. These companies also have their own requirements for economic returns:
- The total amount of tax deductions paid to the state and local government must be at least € 40,000 per year or € 3,300 per month when calculated for an incomplete fiscal year.
- The company should not have any tax debts.
European Union Blue Card
To attract highly skilled employees to the Latvian labor market, a TRP is also issued in Latvia – a European Union Blue Card for a period of up to 5 years.
For the EU Blue Card you need:
- Higher qualification – higher education (at least 3 years of study in a specialty or in the industry that is specified in the employment contract);
- Higher salary (not less than € 1,389 gross).
In general, the same rules will apply to you as to the other employees – both regarding the submitted documents and the invitations.
However, for the recipient of the EU Blue Card a number of advantages are provided:
- Holders of an EU Blue Card are given an additional 3 months to the term of their employment contract. This means that in the case of losing their job, if the period the holder of the EU Blue Card is without work does not exceed more than 3 months in a row he does not lose the EU Blue Card and can receive unemployment benefits for a period of up to 3 months;
- In the case of registration as a permanent resident of the EU in Latvia, they may be outside Latvia longer than those persons who have received a temporary residence permit.
If you have a valid EU Blue Card issued in Latvia and you want to change your employer, you and your family members have the right to live in Latvia until a decision to issue a residence permit or refuse to issue it is made.
A TRP that is issued to blue card holders is the same as the other TRP, except that in the notes section the term “EU Blue Card” is indicated.
Residence permit for a property buyer
The purchase of residential or non-residential property in Latvia, after transferring the property data to the land register, is the basis for obtaining a TRP in Latvia for a period of up to 5 years. In order for you to qualify for a TRP in Latvia, the purchased property must meet the following criteria:
- The value of the purchased property must be at least € 250,000, and the cadastral value of at least € 80,000. If the cadastral value is not enough, it will need a certified real estate valuation that will confirm its market value of at least € 250,000.
- The real estate seller is an individual, a citizen or non-citizen of the Republic of Latvia or EU countries and legally resides in Latvia, and a legal person established in Latvia, EU countries, European Economic Area or the Swiss Confederation, is a tax resident of Latvia.
- Payment for the property is fully made by bank transfer.
- There are no tax debts for the property.
- The property is not used for agricultural purposes.
- The buyer paid the amount of 5% of the value of the property to the budget.
Timeframe of implementation
The deadline for obtaining a TRP in Latvia directly depends on the basis on which an individual intends to get the right to stay in Latvia. These periods in normal cases (not requiring in-depth investigation by the competent structures) vary from 30 to 75 days (1-3 months). The classic validity period of a TRP is up to 5 years. Once a year the TRP must be registered (renewed).
Annual registration of a TRP in Latvia
It is important to remember that if the TRP in Latvia has been issued for more than one year, it must be registered annually. A person who has received a residence permit in Latvia annually registers it 30-90 days before the end of each annual period. If the TRP is valid for several years, the residence permit must be registered every year.
The decision on the registration of a residence permit in ordinary cases (not complicated and not accelerated) is taken within 30 days.
Costs
Except the predetermined fee of the Company for issuing a TRP (look for tariffs in the About Us, Price List section), you will incur overhead costs when you apply for a TRP. The overhead cost for obtaining a TRP is also directly dependent on the basis of the TRP. In some cases it is required to request and translate documents and go through other formalities. The Department of Citizenship and Immigration charges a state duty for the invitations, checking the documents submitted for obtaining a TRP in Latvia and issuing the TRP. A duty is charged on each applicant and member of their family, the exact amount of the state duty per person depends on the urgency of the consideration and the basis for the paperwork. In normal cases, the sum of all state duties per person ranges from € 100 to € 200 for each family member.