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Foreigners invested LVL 318 mln during 2.5 years in exchange for residency permits in Latvia
BC, Riga, 07.01.2013.
Print version
Print versionSince the government policy took effect two-and-a-half years ago, a total of 4,744 foreigners have invested LVL 318 million in the Latvian economy in exchange for residency permits, informs LETA.
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As the Citizenship and Migration Administration (CMA) informed LETA, just as in 2011, the greatest interest from the foreign investors last year was for real estate property. Indeed, 2,435 requested residency permits based on the fact that they or members of their families had acquired real estate property in Latvia for between LVL 50,000-LVL 100,000. The most popular are apartments in Riga and Jurmala, with 487 and 303 bought in 2012.
Investment in bank subordinated capital also gives foreigners the right to request residency, but here the total last year was much less than for real estate at LVL 19.8 million.
CMA mentions that foreigners are least interested in the opportunity to invest in a company's share capital.
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