Eligibility
In Latvia a foreigner is eligible to apply for a residence permit, if he or she has reached legal age of 18 years, has no criminal record, does not have any real estate purchase debts, has a legal source of income and can meet all the investment requirements listed below. It is also possible to submit a request for family members – main applicant’s children under the age of 18 and spouse.

Requirements
In order to acquire a temporary residence permit of Latvian Republic on the grounds of purchasing a real estate property several requirements must be met.

Major requirements
A foreigner has to subordinate liabilities to credit institutions of Latvian Republic in the amount not less than 280 000 EUR, with the term of the transaction contract concluded not more than 5 years and make a contribution paid to the state budget amounting to 25 000 EUR.

Extra requirements
A bank deposit contract must be signed and the Certificate of deposit shall be completed in the name of the person requesting a residence permit.
All fees and extra costs should be covered as well.

State fees and costs
In order to successfully apply for a residence, following fees are involved:

initial bank deposit volume;
25 000 EUR contribution to the Government budget;
notary fees ~ 300 - 450 EUR;
examination of the documents submitted for requesting a temporary residence permit 100 - 400 EUR for the main applicant, 75 - 360 EUR for the spouse, children (depends on the processing period);
documents legalization fee 15 - 30 EUR (if applicable).
Documents
In order to receive a temporary residence permit in the Republic of Latvia the foreigner must present a valid travel document and submit the following documents:

a copy of passport;
a definite sample form for a residence permit request;
a police clearance certificate;
a document showing the existence of the bank deposit;
a document confirming the necessary subsistence funds;
a document confirming the envisaged place of residence in the Republic of Latvia;
a personal photography;
a document confirming that the foreigner holds a valid health insurance policy (prepared and submitted after a positive decision is issued);
copies of documents confirming relationship: birth or marriage certificates (if applicable, required only for family members applications).