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Latvia ‘Golden Visa’ investment tripling from August

Posted by: In: Real Estate 25 Apr 2014 Comments: 0 Tags: ,
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Latvia is tripling its ‘Golden Visa’ minimum investment from €71,000 to €250,000 – more than previously suggested – but it will still be among the cheapest in Europe

Latvia is tripling the cost of its ‘Golden Visa’ – although it will still be among the cheapest property-for-residency scheme in Europe.

The cost of the Latvian ‘Golden Visa’ is rising from €71,000 to €250,000, plus a one-off non-refundable residency application fee of 5% of the property sales price, which goes to the government, says Lars Gehrmann, from the golden-visa-europe.com website.

To qualify for the updated scheme, which comes into effect from 1 August, the property must have property a minimum cadastral/tax value of €80,000, the Latvian parliament has agreed.

It was previously suggested that the minimum investment for the Latvian ‘Golden Visa’ was to be €150,000, plus a €25,000 fee – limited to only 800 applicants a year – with all others having to invest €500,000.

Mr Gehrmann tells OPP Connect, “Latvia was the cheapest, but at the same time a serious destination for a Golden Visa. Now, its minimum property investment is the same as Greece, at €250,000.

“So I expect a run right now for the last deals in Latvia until 30 July …read more

Source: OPP

    

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