Residence permit allows you to reside in Latvia for a time period exceeding 90 days in half a year. Latvia is an EU member state, thus you can also move around other countries that are in Schengen zone and reside in them up to 90 days in half a year. Schengen area currently consists of 25 European countries. The carrier of the residence permit is allowed to reside any period of time both in Latvia and outside of it. In other countries the new resident must stay in the country for at least 180 days a year for all 5 years, otherwise the permit is revoked. Moreover, having the residence permit facilitates easier obtaining of visas to countries like UK and USA.
The residence permit is granted for up to 5 years with the right to prolong it in the future. After 5 years, under certain conditions, you can acquire a permanent residence permit. After residence for 10 years with the permanent residence permit, you become eligible for a Latvian citizenship through naturalization process.
Usually in Latvia residence permit can be acquired in a time period from 6 weeks to 3 months. In other countries it takes up to half a year. Along with the foreigner the documents asking for residence permit can also submit his wife/husband and their minor children.
Latvia is a country in North Europe and due to its geographical location and developed infrastructure serves as linkage between West Europe and CIS countries. The number of inhabitants is around 2 million, from which around one third lives in the capital city Riga. Riga is included in UNESCO list as one of the most important places of both culture and nature. The level of life in Latvia is high, yet the living costs are quite low. Latvia is rich with rivers and lakes and half of its territory covers forests. Moreover, Latvia is located on the coast of Baltic coast and has beautiful beaches. Latvian residents enjoy all four seasons. Latvia is multinational country and the majority of people speak Latvia, Russian, English and German language, which makes communication easier. The official currency is Euro. Time zone GMT +2, but from April to November – GMT +3. Gross domestic product (GDP) in 2013 was 20 983 116 thousand Euro and overall Latvian economy keeps growing and developing. Latvia also has highly developed banking system thanks to the Scandinavian origins.