Value of which is ≥ 250 000 EUR
Real estate cadastral value ≥ 80 000 EUR (or if below - certified uppraisers property valuation),
State duty: 5% of real estate value

There are compulsory conditions for receipt of temporary residence permit through real estate purchase:

1. One functionally related built-up real estate and it must not comprise agricultural land or wooded land;
2. The real estate which has been acquired from a legal person registered in the Republic of Latvia or a European Union Member State, European Economic Area State or the Swiss Confederation, which is a taxpayer within the meaning of the laws and regulations governing the field of taxes of the Republic of Latvia, or a natural person who is a citizen of Latvia, a non-citizen of Latvia, a citizen of the Union or foreigner who is staying in the Republic of Latvia with a valid residence permit issued in the Republic of Latvia;
3. Foreign citizen does not have and never had a debt on payments for the real estate tax in Latvia.
4. The payment of the real estate full amount should be made in the form of non-cash payment.
5. Upon applying for a first temporary residence permit, the person must pay 5% of the real estate purchase value into the state budget;

Real estate investment process

1. Fill application form (We will find properties according to your criteria).
2. Trip to Latvia
3. Property inspection
4. Opening private Bank account in Latvia
5. Transferring all payments to your private account in Latvia
6. Real Estate Purchase agreement signing
7. Property rights registration
8. Temporary residence permit registration process
9. European ID card

Or to be more specific about process

Buying procces requires to deal with serious legal matters, there are many issues that require specific knowledge in order to make things move quickly. Law require that all official documents have to be filled in Latvian language. The right step by step procedure in would be following:

1. After the property is choosen, it is important to chek ownership.
2. Inspection about the property and restrictions - loans, servitutes, third person requests, unpaid utilties bills, real estate tax, unauthorized construction, e.t.c.
3. After inspection of the property you have to coordinate the buying process. The Parties have to agree on down payment, purchase and escrow account agreement project.
4. Purchase Agreement must be done in written form with or without a notarial assurance. Notary fees are from 80 – 300 EUR.
5. The Payment for the purchase is highly recomended to settle through the Escrow account in the bank. The Payment could be done also at the moment of signing the contract, at the moment of signing request for corroboration for сhange of ownership and partial payment before and partial payment after corroboration of ownership rights.
6. Request for corroboration for сhange of the ownership in Land register, must be signed with notarial assurance.
7. If the property consists from the land or includes ownership shares of land, required to obtain consent from local municipalitie. In this case receiving of this document takes from 7 – 20 days.
8. Payment of processing fees and real estate tax for сhange of the ownership in Land register. Processing fees are EUR 21.36 and 2% of purchase price.
9. After all this previously mentioned documents and payment bills, must be submitted to the Land register department.
10. From the start of purchase process until receiving Land register ownership certificate, takes from 14 to 30 days.