2012 was very successful for Latvia

2012 was very successful for Latvia

This year’s EU’s and Eurozone’s economic outlooks were downgraded several times, while Latvia’s growth outlooks only went up. While Latvia’s economic growth projection was only 2% in the beginning of the year, the current economic projection of the Finance Ministry provides for 5% increase of GDP in 2012.

2012 has been especially successful and important for Latvia’s economy. Growth rates have exceeded all expectations. Starting from September, Latvia started completing Maastricht criteria for Euro adoption. The government’s next year’s priority goals include the adoption of Euro, further reduction of the workforce tax and shadow economy.

Latvia had the most rapidly growing economy in the EU in the first three quarters of 2012. Latvia’s economic achievements are made even more significant by the fact that they were made in the time, when Europe was being especially ravaged by the Eurozone debt crisis. Both Europe and Eurozone are expected to have GDP reduction in 2012.

So if you see that Latvia as good place for your business you must get more information on Company formation.

Important news for foreign investors are that starting from 2013, CIT will not be applied to non-residents’ paid and received dividends. This regulation will not apply to dividends that are paid to low-tax or non-tax state residents. There will also be a central CIT regime on income and losses from sales of shares, except sales of tax or non-tax state shares.

Visa code in European union

Visa code in Latvia, European union

The aim of the regulation is to establish the conditions and procedures for issuing visas for short stays in (maximum of three months during any six-month period) and transit through the Member States of the European Union (EU) and the associated states applying the Schengen acquis in full. It applies to nationals of third countries that must be in possession of a visa when crossing the external border of the Union.

In addition, the regulation lists the third countries whose nationals must hold an airport transit visa for passing through the international transit areas of Member State airports. In urgent cases of mass influx of illegal immigrants, any Member State may extend this requirement to nationals of other third countries. More about visas you can read in section on Immigration.

Buy Property in Latvia and get Resience Permit to EU for 5 years

Buy Property in Latvia 

If you’re interested to buy a property, the mortgage is one of the most important considerations. Becoming a landlord for the first time is an exciting opportunity! Of course that should be carefully considered as you will have to invest your own money and as well your time into it to keep things running the way they should to ultimate the profit you made of it.

The key to a succesful investment is careful managing of your budget and of course choosing the right property.

Well there’s a few most important things you should do if you decide to become a landlord:

• Work out your finances 
• Choose your property and tenants
• Find the mortgage that suits you best
• Get a quote and apply
• And last but not least,be a good landlord

According to law one who has bought a property for 100.000,- Lats (~144.000,- eur) in Riga or Riga region or for 50.000,- Lats (72.000,- eur), he can apply for Tempoeary Residence Permit for 5 years. More about immigration you can get in section on immigration.

Latvian embassy in Moscow got 8000 applications for visas to Latvia

Latvian embassy in Moscow got 8000 applications for visas to Latvia

In the first part of December, 2012 Embassy of Latvia in Moscow received 7942 applications for visas and this is for 13,3%  more than in previous year. It is stable tendece that amount Russian tourists increase and tourists from Russia are travel leaders to Latvia. On 10th December there were 1150 visa applications - and this is the most visa application amount in one day ever. Previous record was 1050 and that was just 5 days before.

This big interest about Latvia is related with desire of Russians to meet New Year in Latvia. Amount of Russian tourists to Latvia increases regularly. And Latvia is the one of the top countries where Russian tourists go.

Mostly new year tourists travel in Russia, as second place where tourists plan to go is Estonia and the third is Latvia. Russian tourists plan to spend usually in capital cities - Tallin, Riga and Vilnius.

Most popular places where Russian tourists travel is also Lithuania, Germany, Czech Republic, Italy and Thailand. More about immigration you car read in section Immigration.

The Baltic states is as London for less rich millionaires

The Baltic states is as London for less rich millionaires

 

There was made research by Latvian, Lithuanian, Estonian and Russian researchers. There was found that collaboration between The Baltic States and neighborhood countries in East is increasing dynamically all the time, especially in field of sales, transport and investments. Russia is very important trade business partner for Latvian, Lithuanian and Estonian companies and The Baltic states companies can diversify trade ways. More about Latvia you can read in section on Latvia.

Researchers agree that despite of tight Latvian and Russian relations, there are very stable economical relationships. Russia and Belarus shows interest to collaborate with Latvia because Latvia is also part of European Union(EU). Belarus cooperation with Latvia gives additional opportunity to take part in economical and political negotiations with European Union. But collaboration of Russia and Latvia allows it to make impact to EU politics. Of course Russian and Belarus companies' collaboration with Latvia allows them expand their business activities via whole EU market.

Belarus is interested to develop business transit through sea ports in Latvia and there is wide possibilities to develop mutual collaboration. Researchers predict that there will be good collaboration between Belarus and Latvia in spite of sanctions of EU to Belarus - Professional links and mutual trust will be more important than sanction of European Union (EU).

If you are also interested to start and develop your business in Latvia and come into European Union market through Latvia please visit our webpage in section on company formation.