One of the questions we get a lot is how can you easily obtain an EU Schengen Residency Visa? Well, now you can get one through Latvia, simply by buying property there.
Obtaining EU residency is one of the hardest things to get in the world even though Europe has a reputation for being open to immigrants. Well, there’s now an easy way to get EU residency – if you’ve got deep pockets.
Contact our local Latvian Real Estate Agent.
According to Immigration Matters:
Anyone from outside the European Union who buys property in Latvia or invest in business will now receive EU residency rights, the BBC reports.
With Latvia suffering one of the worst economic crises in Europe, many praise the new way of attracting foreign investment.
Property buyers can get European Union residency rights thrown in as an added ‘bonus’, rather like a free washing machine with a Wimpy starter home.
Critics say European residency rules could be abused by criminals, but the real point is whilst the UK and other countries spend millions trying to restrict non-EU immigration and secure their borders, Latvia, a member of the European Union, is effectively flogging EU passports through Estate Agents!
Yes, you can now legally buy EU residency from Latvian Estate Agents!
After obtaining Schengen visa area residency – you could then live and work anywhere in the EU that’s within the Schengen – including the UK. I suspect a rental market glut will soon be apparent in Latvia once people get word of this.