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  • Thema von BalticLegal im Forum Dies ist ein Forum in...

    Documents for submission
    These are the necessary documents to submit to acquire residence permit:

    Filled application form
    Passport size picture
    Document issued by competent authority from the home country indicating that the foreigner has no criminal record
    Prove of sufficient financial means
    Document indicating place of residence in the Republic of Latvia
    Prove that payment for the real estate was in non-cash form (bank transfer)
    Document that indicates that person has paid real estate tax if the real estate in owned for more than a year
    Document that indicates that State fees for residence permit request are paid
    Additionally upon arrival
    Valid health insurance
    Reference from Latvian medical institution proving that the foreigner does not suffer from tuberculosis in active phase
    Documents and application can be submitted

    At Immigration office in Republic of Latvia
    At Latvian embassy or consular missions outside the Schengen area
    Residence permit for the family
    Along with the main investor his/her family members can apply for a temporary residence permit.
    Qualified family members are the spouse and children under18 years of age.

    Financial means to support living expenses
    Minimum required financial means for investor – 960 Eur per month
    Minimum required financial means for spouse - 320 Eur per month
    Minimum required financial means for child - 192 Eur per month
    In order to prove possession of sufficient financial means the foreign national should provide a bank statement that indicates amount for one year 12 x 960 = 11520 Eur.

    Additionally expected expenses related with buying the real estate
    State fee for registration the new owner in the Land Register – 2% from the value of the property
    State fee that must be paid to the government when you recive the permit – 5% of the proparty value
    Stamp duties, notary fees & other; approximately 80 – 130 EUR
    Duration of the process
    The time for obtaining a residence permit in Latvia includes the period necessary to review the submitted documents which is 5 to 30 days depending on the amount of fee paid.

    If an additional verification by the foreign national is necessary, the term can be extended for up to 90 days.

    A foreigner has to visit Latvia to obtain a residence permit no later than three months after being granted the permit.

    State fee 143 Eur – decision by Immigration office is issued in 30 days;
    State fee 285 Eur – decision by Immigration office is issued in 10 days
    State fee 427 Eur – decision by Immigration office is issued in 5 days

  • Getting there - getting to EuropeDatum16.01.2023 14:49
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    By road
    Driving licence
    A valid driving licence issued in an EU country is valid throughout the EU. In some countries, in addition to carrying a valid driving licence, you will need to have your vehicle registration document with you.

    Motor insurance
    Wherever you are travelling in the EU your car insurance policy will automatically provide the minimum cover (third party liability) required by law. This also applies to Iceland, Liechtenstein and Norway. If you have comprehensive insurance at home, check that the cover extends to travelling in other countries.

    Driving safely
    In all EU countries seat belts must now be worn in all vehicles, including tourist coaches and minibuses. Children must also have appropriate child restraints in cars and lorries and, where possible, in other vehicles as well.

    Using a mobile phone while driving greatly increases the risk of an accident and it is either explicitly or implicitly forbidden in all EU countries.

    Tolls
    There are toll roads in many countries including Austria, the Czech Republic, France, Greece, Hungary, Ireland, Italy, Poland, Portugal, Slovakia, Slovenia, Spain and the United Kingdom. Payment of tolls in some countries (Austria, Czech Republic, Hungary, Slovakia and Slovenia) is by 'vignette' or toll label which has to be affixed to the windscreen.

    Bus and coach travel
    Bus and coach passengers will enjoy new rights wherever they travel within the EU from 1 March 2013. All passengers will have the right to receive adequate information. Passengers travelling 250 km or more will have additional rights such as assistance, reimbursement or rerouting in case of delay and cancellation. Passengers with a disability or reduced mobility will get free assistance at terminals and on board buses or coaches.

    By air
    Creating a single European market for air transport has meant lower fares and a wider choice of routes and services for passengers.

    Air passenger rights
    As an air passenger you have certain rights if your flight is delayed, cancelled or if you are denied boarding. These rights apply to all scheduled and chartered flights, both domestic and international, when departing from an EU airport (or from Iceland, Norway and Switzerland). When arriving at an EU airport from a non-EU country, they apply only to flights operated by an airline licensed in the EU (or Iceland, Norway and Switzerland).

    Air carriers are liable in the event of accidents or for lost, damaged or mishandled luggage.

    Security
    In order to ensure a high level of security throughout the EU, common rules and standards have been laid down for such things as passenger security controls, hand luggage and checked luggage, when departing from EU airports.

    By rail
    The EU has over 212 000 km of railways with extensive international passenger services. There are over 6 000 km of high-speed lines in several countries with trains reaching speeds of up to 350 km/h and the network is being extended with new links in Austria, Belgium, France, Germany, Greece, Italy, the Netherlands, Portugal, Spain and the United Kingdom. Huge financial support is going into trans-European projects such as enhancing the rail links from Rotterdam to Genoa, Lyon to Hungary’s border with the Ukraine, from Stockholm to Palermo, from Dresden to Bucharest and from Warsaw to Tallinn.

    By water
    There are many key sea routes between EU countries offering regular, high-quality services as an alternative to, or in combination with, road, air or rail. There are also 41 000km of navigable inland waterways in 20 of the 27 EU countries. Enjoy a sea or river cruise or use the water as a practical and pleasant way of getting around.

    Metro
    If you plan to use the metro, familiarise yourself with maps of European city metros.

  • Gibraltar OffshoreDatum19.12.2022 13:03
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Gibraltar is one of the British Overseas Territories that we recommend for an offshore company. Gibraltar is located at the southern end of the Iberian Peninsula on the Mediterranean Sea. Gibraltar is known for its Rock with a densely populated urban area at the foot of the Rock. The official language of Gibraltar is English, but Spanish and Llanito are also widely spoken.

    Company information
    The nature of the company is non-resident which means that the director of the company does not have to be on site, the board meetings and shareholders' meetings have to be held in Gibraltar. The most important company characteristics in Gibraltar:

    Company formation (registration process in Gibraltar takes about 5-8 days
    Minimum share capital of EUR 1.21 and usual authorized share capital of EUR 2,420
    At least one director and one shareholder are required
    A local qualified company secretary is required.
    Submitted accounts are not publicly available
    An office must be maintained within Gibraltar

    Company formation
    In order to entertain a non-resident company in Gibraltar, the following is required:

    Submission of annual accounts
    Create and deposit accounts
    an annual minimum license fee of 55 EUR

    Control system
    Gibraltar has no double tax treaty with any country and has no corporate tax. Only the annual license fee has to be paid. Also, there is no wealth tax, capital gains tax, gift tax or VAT in Gibraltar.

  • Work in GermanyDatum19.12.2022 13:01
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Vacancies
    As of now, there are approximately 1 375 110 vacancies available in Germany. That is 3.3% of all the job positions, both occupied and vacant, in the country.

    Wages and expenses
    In Germany the minimum wage is EUR 1599, while the average salary is EUR 3997.

    A single person in Germany spends an average of EUR 766 per month, not including rent.

    Workweek
    The standard workweek in Germany is 8 hours a day or 40 hours a week.

    Useful resources
    If you are planning to work in Germany, it is useful to know the following information and contacts of organizations.

    Work permit services
    If you are interested in working in Germany, you need to obtain a work permit and a residence permit (which in some cases are obtained simultaneously). For this you can use the help of our legal team - we provide consultations, find the best solutions to your unique case and deliver legal assisstance of all kinds. So contact us by using the form on the upper right side of the page, and start a journey to your dream job in Germany.

  • Business environment in LatviaDatum18.11.2022 18:12
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    According to the World Bank Group, Latvia ranks 22nd out of 189 countries in terms of ease of doing business. The country ranks among the top 20 for obtaining credit for businesses; in the top 30 starting a business, construction and registration of real estate, easy and efficient tax payment, international trade and enforcement of contracts; and among the top 50 for resolving bankruptcies and protecting minority investors. The weakest point of Latvia's business environment is by far its ease of getting electricity for newly built properties, for which the country ranks 65th.

    Overall, Latvia is the most favorable for companies that do not plan to build new infrastructure. Ease of starting a business, paying taxes and getting credit combine well with cheap but skilled and educated labor and low cost of infrastructure and facilities. Because of this, Latvia is a very popular country to start a business, especially for entrepreneurs from outside the EU, as overall it takes a lot less investment to start a business in Latvia than most other EU member states, while the bottom line (in terms of quality) is the same. The entrepreneurial risks for such entrepreneurs are comparatively low as long as they consider the possible competition on the local market.

    Legal framework
    Since Latvia joined the European Union in 2004, it has adopted most of the Union's laws and policies. One of the examples is the Schengen agreement, which allows free international trade with other EU member states (more about Latvian market access from the EU here).

    Latvian politics favors the free market and consistency with EU policies. Some analyzes classify Latvian legislation as conservative, meaning that new policies take a long time to be accepted by the government and are generally treated with caution. Legislative initiatives proposed by the EU are excluded from this. Latvia aspires to be an active member of the European Economic Area and tries to align its policies with European standards.

    Economic geography
    Most companies are concentrated in the Latvian capital Riga and the surrounding cities. Other major cities often devote themselves to specific market sectors, e.g. The port cities of Ventspils and Liepāja offer ice-free ports (read more about logistics in Latvia), while Daugavpils is a major rail hub.

    Cities of regional importance also play their role in Latvia's economic environment. For example, the Rezekne Free Economic Zone is located in the city of Rezekne. The EPZ contributes to the development of the region and attracts companies with up to 100% real estate tax breaks, corporate tax breaks of 80% and return of investment costs through tax incentives of up to 55%. Rezekne is also an important railway junction.

    The most urbanized regions of Latvia are the central, eastern and western regions. However, it must be noted that if the central region is thoroughly urban, the east and west are urban in the sense that the majority of the population lives near large cities, with small rural areas in between. The southern and north-eastern regions are predominantly rural.

    Market freedom
    Latvia is a free market economy, which means that economic policies are aimed at reducing state intervention and preventing the emergence of monopolies. According to the Wall Street Journal and the Heritage Foundation, Latvia is the 37th freest economy in the world. Latvia's score in this case is supported by high levels of tax, trade, investment and business freedoms, but is dragged down somewhat by corruption and government spending.

    In Europe, Latvia ranks 17th in terms of market freedom. This position is getting stronger and stronger every year as Latvia takes steps to integrate into the European Economic Zone and catch up with the main member states.

  • Trasta komercbanka bankDatum25.09.2022 12:55
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Trasta Komercbanka is a kind of a financial club for people aiming at success and non-stop development.

    Trasta Komercbanka is an international bank, They are flexible and can create special finance solutions for their customers and their business.

    In 1991 year Trasta komercbank was founded in Latvia. In 2017 the bank has stopped its activity and no longer provides banking services in Latvia.

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