Opening of the non-business enterprise
Representative office of foreign company in Latvia – one of the most beneficial and cheaper in terms of financing of methods of obtaining the residence permit.
The non-business enterprise of foreign company is considered as a convenient basis for the legalization of business activity. Opening of non-business enterprise is possible for 1 or 2 representatives. There are no limitations to the amount of the authorized capital of the parent company but it’s necessary the approval of the governing body for the opening of a representative office.
The condition which must be executed for extension of the residence permit – annual report provision on the work of the non-business enterprise. Provision of annual report is not required if the proposed company in the country of registration has a staff of more than 10 people and annual turnover of more than € 2 million.
A residence permit shall be issued for 4 years with necessity of annual renewal through opening of representative office of foreign company in Latvia.
Term of preparation of residence permit – 2-2,5 months.