In this article we want to show you why Republic of Latvia is one of the best counties in Europe for immigration process.
Immigration laws of European Union are getting same for all its members (The 25 Schengen countries are: Austria, Belgium, Czech, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. With Latvian residence permit you can live and work in any of these countries- members of European Union). Each country have its own specific character of immigration laws but its main features that allow its citizens and holders of residence permit to live and work legally in Europe are maintained in all European countries. United Kingdom and Ireland are not included in Schengen zone.
There is a certain period after which a person can get permanent residence permit in all European countries after official immigration. This period may not exceed 5 years after official immigration of foreign citizen.
We think that Latvia is one of the most attractive countries from the immigration point of view and simplicity of preparing documents needed for immigration. If you want to live and work abroad, Latvia is the best for you: Immigration to Latvia is really simple – you don’t need to satisfy strict age requirements, have higher education, know Latvian language or wait for several years without knowing result.
If we talk about simplicity of immigration process you should understand that it is a bit simpler to get residence permit and to satisfy all immigration laws in Latvia in comparison with other countries, but anyway it is not an easy thing to do.
Advantages of immigration to Republic of Latvia in comparison with other European countries:
1. Tax weight
Total tax weight in Latvia which forms from all the taxes including Social insurance tax is just 30,5% from GDP. It is one the lowest index via 27 EU countries. Average tax weight in Europe is 39,8% from GDP. The highest tax weight are in Denmark – 48,7%, Sweden – 48,3%, Belgium – 44%, France and Italy – 43,3% from GDP.
Value added tax (VAT)
Most of goods and services are taxed with 21% but there are exceptions and some specific goods and services are taxed with 10% VAT.
Personal income tax
Personal income tax is 23% from private incomes.
Corporate income tax
Corporate income tax to companies is 15%.
2. Latvia is a member of European Union and part of Schengen zone
Latvia became a member of European Union in 2004 and from 21st of December 2007 Latvia is part of Schengen zone. It means that after your immigration to Latvia you will get Schengen visa and can go to any European country without additional visa.
3. Very highly developed bank infrastructure
There are more than 20 banks what operates in territory of Latvia. Mostly they are controlled by Sweden, Norway, Germany and Denmark. They make financial system of the country stable and allow keeping money on the accounts without being scared about it.
4. Geographical position.
Latvia, officially Republic of Latvia is one of the three Baltic States in Northern Europe in the Baltic region. It is bordered to the north by the Baltic state Estonia, to the south by the Baltic state Lithuania, and to the east both by Belarus and the Russian Federation. Across the Baltic Sea to the west lies Sweden.
If You need legal services or accounting services, please contact us
Tel. (371) 29 112 333