Subordinated deposit opening in Latvian bank
The residence permit can be obtained through capital investment in the form of a subordinated deposit in the amount of at least € 280 000 in a financial institution of the Republic of Latvia for a period of not less than five years. The deposit cannot be cancelled until the efflux of time of the transaction according to the terms.
Residence permit is issued on this basis for 5 years with mandatory annual renewal.
Also, a one-time fee is in the amount of € 25 000.
Annual percentage rate is 1-2 %. The percentage rate is considered individually when investing of large sums of money. The guarantee of the EU covers all deposits.
Term of preparation of residence permit after depositing funds on subordinated deposit – 1 month.