Frequently asked questions
1. Incorporate or buy a shell company in Latvia. Usually a trip to Latvia is necessary for notarization of documents in person. Company should have a minimum registered capital of Euro 2800. If not, you may have to bring in funds to the bank account and raise the capital.
2. Inject some additional capital into the company bank account. Higher capital helps impress the immigration authorities to grant you a residence permit.
3. Develop a business plan and explain how you will be able to pay yourself a minimum salary of Euro 1537 per month and pay Taxes of about Euro 800 per month.
4. Find a few Latvian, European and international companies and sign cooperation agreements with them to show that you have clients / business potential to earn for your company and for yourself.
5. Compile your education and experience reference letters. These should match the company's proposed business activity. Make sure that your education certificates are duly attested with an apostille. Ensure that you are demonstrating well documented work experience ( even if it is within your own company abroad ) for a minimum of three years. Longer the better.
6. Obtain a criminal record from your country of residence where you have been living continuously for the past 12 months. Get it apostilled.
7. Once all of the above have been compiles, you can visit Latvia again, using any Schengen visitor visa you may have.
8. Once in Latvia, immigration law allows you to submit your application for a residence permit. Make sure you include all documents to support your application.
9. You may choose to pay Euro 400 for a 5 working day process or Euro 200 for 10 days or Euro 100 for 30 days. It depends on how long is your Schengen visa valid and if you are going to stay and wait for the decision on your application.
10. Be prepared for some questions. It helps to hire some professionals to help you prepare and mediate with the immigration authorities.
Proserve has an impressive track record.
You may also find this page useful
https://www.proserve.lv/latvia-residence-trc-permit-for-business-selfemployment-employment