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EU residency for sale at your nearest Latvian Estate Agency | Immigration Matters

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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! 

One building owner, Kristaps Kristopans, told the BBC reporter that “almost all of the buyers of these flats are Russian – attracted, in part, by Latvia’s offer of EU residency rights for property buyers”.

The report continues:

“Half of the buyers in this development have applied for residency. And since the law was introduced in July, it has already given the property market a boost.

“In essence the whole initiative restarted the real estate market in Latvia,” Mr Kristopans explained as he showed off the property.

“One year ago it was completely dead. No transactions. Nothing. And now a lot has changed. Sales are picking up nicely.”

The law means that non-EU citizens who buy a property worth at least 70,000 euros ($93,000; £60,000), or invest in a business, can get EU residency rights – allowing them to move freely within the 25 countries that make up the EU’s Schengen area. 

During the 20th century, Latvia was occupied by the Soviet Union. So many Latvians object to their government providing incentives for Russians to buy Latvian assets.

And some, such as Roberts Zile – a Latvian member of the European Parliament – believe that an influx of Russian investment will increase Moscow’s influence in the region as well as pushing up property prices beyond the reach of locals – welcome to the club!

Mr Zile also argues that the law could be abused by criminals, who could win the right to move freely within the European Union.

“We are selling residency rights in the whole Schengen area, not just in Latvia,” he said.

“They are more interested in other countries. They will not reside here. It could be more of a worry for other EU countries, not for Latvia.”

See Damien McGuinness report:

http://www.bbc.co.uk/news/business-12106988

See article:

UK Border Agency launch new website

The newly revised UK Border Agency website has a better look and feel and navigation seems faster, but previously published links to specific pages of the site may no longer exist.

For instance, the link for European Workers is now:

http://www.ukba.homeoffice.gov.uk/eucitizens/bulgaria-romania/work-permits/applying/

The link for ‘Bulgarian and Romanian nationals‘ is:

http://www.ukba.homeoffice.gov.uk/eucitizens/bulgaria-romania/work-permits/

The UK Border Agency and Home Office website contains a vast amount of information which can be difficult to wade your way through the guidance and Immigration Rules.

The navigation section for European workers from Bulgaria and Romania also appears to have been simplified although finding specific information is still a challenge.

Confusion remains over the need for Bulgarians and Romanians applying for BR1 Yellow Cards as students to take out Comprehensive Sickness Insurance cover. 

The BR1 Form in Section 9 states:

‘If sections 4 (Students) and 5 (Self-sufficient) have been completed: evidence of ‘Comprehensive Sickness Insurance’ cover in the UK and funds to show you are economically self-sufficient, e.g. a bank statement.’

In other words, the paragraph means you need comprehensive sickness insurance only if you are applying under both ‘student’ and ‘self sufficient’ sections.

Nevertheless, student applicants are being asked to take out private medical insurance policies and are being refused if they fail to supply the correct cover.

What is the correct insurance cover?

One insurance company manager told Immigration Matters that he has been trying to get clarification on the exact requirements from the UK Border Agency for several weeks.

Active Quote offers an easy to use online quotation and application system, but also has telephone support from advisers who are on hand to answer questions.

To obtain a quotation for Comprehensive Sickness Insurance visit the Active Quote website 

See article:

 

UK Border Agency launch new website

The newly revised UK Border Agency website has a better look and feel and navigation seems faster, but previously published links to specific pages of the site may no longer exist.

For instance, the link for European Workers is now:

http://www.ukba.homeoffice.gov.uk/eucitizens/bulgaria-romania/work-permits/applying/

The link for ‘Bulgarian and Romanian nationals‘ is:

http://www.ukba.homeoffice.gov.uk/eucitizens/bulgaria-romania/work-permits/

The UK Border Agency and Home Office website contains a vast amount of information which can be difficult to wade your way through the guidance and Immigration Rules.

The navigation section for European workers from Bulgaria and Romania also appears to have been simplified although finding specific information is still a challenge.

Confusion remains over the need for Bulgarians and Romanians applying for BR1 Yellow Cards as students to take out Comprehensive Sickness Insurance cover. 

The BR1 Form in Section 9 states:

‘If sections 4 (Students) and 5 (Self-sufficient) have been completed: evidence of ‘Comprehensive Sickness Insurance’ cover in the UK and funds to show you are economically self-sufficient, e.g. a bank statement.’

In other words, the paragraph means you need comprehensive sickness insurance only if you are applying under both ‘student’ and ‘self sufficient’ sections.

Nevertheless, student applicants are being asked to take out private medical insurance policies and are being refused if they fail to supply the correct cover.

What is the correct insurance cover?

One insurance company manager told Immigration Matters that he has been trying to get clarification on the exact requirements from the UK Border Agency for several weeks.

Active Quote offers an easy to use online quotation and application system, but also has telephone support from advisers who are on hand to answer questions.

To obtain a quotation for Comprehensive Sickness Insurance visit the Active Quote website

See also:

Latvian sham bride found in bed with real boyfriend

Weekly UK Immigration News Round up 23 January 2011

How to Obtain a Student Visa to Study in the UK

New Countries Eligible to Participate in H-2A and H-2B Programs announced by USCIS

20 suspected illegal immigrants held in raid on London NHS hospitals

If you need any immigration advice or help with Sponsorship or Tier 2 Working Visas, Visa, ILR, Settlement, Citizenship, dependant visa or an appeal against a refusal please email: 

info@immigrationmatters.co.uk or visit www.immigrationmatters.co.uk

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8 Responses to “EU residency for sale at your nearest Latvian Estate Agency”
Read them below or add one

  1. Pat Schleicher says :

    Will I lose US citizenship if I become a Latvian citizen? I am interested.

  2. […] to meet it. The trouble is that many immigrants are either Britons returning from abroad or other European citizens who can’t be kept […]

  3. SYED ABBAS says :

    thanks for this help.

    can you provide me the link or contact details of the right person please.

    regds,

    syed

  4. Suggest you contact the Latvian Government or an estate agent for the rules

  5. SYED ABBAS says :

    Why you dont answer my comments?

    huh.

  6. Syed Abbas says :

    “EU residency for sale at your nearest Latvian Estate Agency”

    EU residency rights?

    how long we need to stay in latvia, and if i take residency in latvia, during that can i live and work fulltime in uk in the same time, and that time will be count.

    Please advise as i am keely intrested.

    SYED ABBAS

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