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Latvian immigration laws are simple but strictly enforced. You cannot get a Latvian temporary resident permit without a valid work contract issued by one of the Latvian companies that is registered with the Latvian department of employment. The company will have to declare every vacancy and that particular vacancy has to be kept open for Latvian citizen for a period of one month. It is only if a suitable candidate is not found even after a month’s time, can the vacancy be offered to a foreign national. But there is another option, buying real estate property. The new amendments of the immigration law makes it clear that if a foreign national can prove that he has enough reason to be in Latvia and will be required to stay in Latvia for a period of more than 90 days , then he can be granted temporary resident permit. This reason can be either investments in the equity capital of Latvian companies or real estate holdings. A negligible amount of investment or a small holding of land in Latvia will not be sufficient. If the investment or the land holding is large enough to meet the requirements of the immigration law, the application of the foreign national can be considered. This new amendment of the immigration law is helping the Latvian property market. This is because there is a definite rise in the number of foreign nationals eyeing the available properties in Latvia. This easy method that will most probably lead to speedy consideration of their application has appealed to many foreign nationals. This is the reason many of them have rushed in to acquire land in Latvia. The land prices have gone up too. Since most of the foreign nationals would prefer to later convert their temporary resident permit into permanent residency and settle down with a Latvian citizenship, they do not find the investment in real estate to be a loss. In fact, most foreign nationals only consider it as an early investment in the land of their dreams. Presently you will be able to buy a single bedroom apartment in Latvia for an amount close to LVL12, 600. A two bedroom apartment can make you poorer by LVL25, 200. A three bedroom apartment can cost anywhere between LVL21, 000 to LVL30, 000. If it is a four bedroom apartment that you are interested in then you will have to shell out at least LVL32, 900. The effect of the immigration law has been seen very clearly in the form of price rises. Where the average price of a square metre of apartment was LVL 148 in the year 2004, it has risen to LVL862 by the year 2007. The price rise is significant. The overall average rise in property prices has been estimated to be around 300%. It is true that the immigration law is helping the Latvian property market and it is affecting it considerably too. The foreign nationals are keen on buying property but the Latvian nationals are upset by the increase in prices of land and dwellings. Building houses have also become costlier as the average price of building a square feet of dwelling has increased. We are a India based immigration consultancy ,expert in Latvia visa and Latvia residence permit .Those who want to immigrate Europe best option is to invest in Latvia real estate and to et Latvia residence permit .For More information Please visit our site .
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