Latvian deputies decided that the minimum price of the property, the purchase of which will allow foreigners to qualify for a residence permit to increase to 250 thousand euros, writes Prian.ru. At the same time the cadastral value of the property must be at least 80,000 euros. These requirements will apply to the whole territory of Latvia. In addition, under the new law , investors wishing to obtain a residence permit , the first call should be to make the state budget one-time payment in the amount of 5 % of the purchase price .
These changes may come into effect this summer .
Currently, the alien may apply for a residence permit in Latvia , if the gain in Riga, Riga Planning Region and seven major cities in the property is not less than 142.3 thousand euros ( cadastral value exceed 42.69 thousand euros) , and in other places the country - 71.15 thousand euros ( 14.23 thousand euros) .