TOTAL COSTS
Acquiring a temporary residence permit (TRP) in Latvia through real estate purchase involves several expenses. Below is a detailed list of potential costs for a purchase of 250 000 EUR worth of property in Latvia to obtain TRP.
REAL ESTATE PURCHASE COSTS:
| Value of the property | € 250 000 |
| Stamp duty upon registration (1.5% of the real estate value) | € 3 750 |
| Registry fee | € 15 |
| Notary expenses | € 300 |
| Escrow account (by individual bank price list) | starting € 1 000 |
| TOTAL COST FOR REAL ESTATE PURCHASE: | € 255 065 |
TEMPORARY RESIDENCE PERMIT (TRP) REGISTRATION COSTS:
| Application fee | € 150 |
| Government tax (5% of the property value) | € 12 500 |
| Health insurance | € 200 |
| Legal and representation fee | from € 5000 |
| Translation of documents may be required, costing approximately €20-€30 per page | € 500 |
| TOTAL COST FOR TRP APPLICATION | € 18 350 |
ADDITIONAL COSTS
- Travel Expenses: Costs for traveling to Latvia to view properties and finalize the purchase.
- Accommodation and Living Expenses: Temporary accommodation and living expenses while staying in Latvia for the property purchase and TRP application process.
- Bank Fees: Costs associated with transferring money internationally and opening a bank account in Latvia
FIND OUT HOW TO OBTAIN YOUR GOLDEN VISA TODAY!
For any questions regarding residence permit in Latvia and Golden Visa Service please reach out to Latvia Sotheby’s International Realty Sales Expert!
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