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Auray Capital Latvia

Situated in Northern Europe, Latvia is known as the pearl of the Baltic States. It is a member of the European Union, and has historically welcomed influences from Western Europe, Scandinavia and Eastern Europe. Latvia’s capital Riga is a modern city, while its rural areas offer unspoiled nature for residents and visitors alike.

Latvia amended its immigration law to grant temporary residence permits on July 1, 2010. The country is looking to make the program more competitive to continue attracting high net worth individuals from around the world. The program operates under the supervision of the Office of Citizenship and Migration Affairs.

Investment immigration programs

Residencyby investment

Residencyby investment

Information on available program coming soon

Citizenshipby investment

Citizenshipby investment

Information on available program coming soon

Key Facts

  • Area: 64,589km2
  • Population: 2,165,165 (2014 est.)
  • Official language: Latvian
  • Capital: Riga
  • Government: Parliamentary democracy
  • Legal system: Civil law system with traces of socialist legal traditions and practices
  • Currency: Euro
  • GDP per capita: $19,300 US (PPP 2013 est., $38.87 billion US GDP)
  • Climate: Maritime, wet moderate winters
  • Visa-free travel for citizens: 152 countries

Economic Immigration & Taxation

This small, open economy relies on exports for a third of its GDP. Due to its location on the Baltic Sea, transit services are highly developed, along with timber and wood processing, agriculture and food products, and manufacturing of machinery and electronics industries. Most companies, banks and real estate have been privatized, but the state holds important stakes in large enterprises. The country joined the eurozone in 2014.

Latvia has a flat rate tax of 24% on employment and business for individual residents. Capital gains are taxed at a 15% rate and other income at 10%. Corporations are taxed at a rate of 15%. Moreover, dividends earned by corporations are exempt of tax. The country has multiple bilateral agreements to avoid double taxation of income.

AURAY Capital’s partnership, via Grant Thornton Rimess Baltic, can provide assurance, taxation and advisory services in its Riga office.

Logos Auray Capital & Grant thornton Raymond Chabot

Family Life

Latvia offers a high quality of life, relatively low taxes and a low cost of living. Its capital Riga is a UNESCO world heritage site and it attracts an expat community. Although Latvian is the official language, English is understood in business, as are German and Russian. The cost of living in the capital is low compared to other European cities, and Riga also offers several international schools.

AURAY Capital's specialists in Residency and Citizenship by Investment programs can guide you through Latvia’s immigrant investor program.

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