bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 01.10.2016 | Name days: Lāsma, Zanda, Zandis
LatviaLatvia

Saeima approves amendments to Immigration Law in second reading

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUOn Thursday, 9 June, Latvia’s Saeima performed a second review of amendments to the Immigration Law in relation to the parliament’s previously approved regulation regarding the payment of EUR 5,000 to the state budget when requesting residence permits a second time.

On 21 April, the Saeima adopted changes to the Immigration Law in the final reading. Among other things, amendments included the application of a EUR 5,000 fee to the state budget in cases when foreigners request residence permits in exchange for real estate purchases, investments into capital companies, bank capital and state bonds. President Raimonds Vejonis, however, decided to send amendments back to the Saeima for a repeated review.

On Thursday, deputies decided that foreigners would not have to pay a fee of EUR 5,000 to the state budget when requesting restoration of residence permits the first time.

Foreigners requesting restoration of residence permits a second time will not be applied with additional conditions in relation to the payment of EUR 5,000 to the state budget, deputies decided.

Amendments also state that issue of residence permits to third country residents can be halted in relation to the total number of them in Latvia and their possible influence on the country’s national security or economic development. Changes will also be added to conditions under which residence permits are issued to foreign investors that finance capital companies or buy real estate.

New rules state that the issue of residence permits to citizens of third countries will be allowed to be halted for no longer than a period of five years.

Amendments will also add conditions for the issue of residence permits for periods of up to five years to foreigners who invest money into Latvian companies. Minimal investment amount in Latvian companies has been increased (from EUR 35,000 to EUR 50,000). In addition, companies are to have no fewer than 50 employees and annual revenue no higher than EUR 10 million. Such companies are to pay no less than EUR 3,300 in taxes to state and municipal budgets annually.

From now on, residence permits in exchange for investments in a single company will be issued to no more than ten foreigners. In addition to investments into a Latvian company, those foreigners will have to pay EUR 10,000 each to the state budget. The required investment amount for capital companies has been reduced from EUR 150,000 to EUR 100,000. The company needs to have no fewer than 50 employees. Rules state that residence permits will remain in force as long as the company that received investments pays no less than EUR 100,000 in taxes. In addition, monthly tax payments should not be below EUR 8,300 for the first annual account period.

In relation to procurement of real estate properties, Saeima deputies decided to support the proposal that provides for permission to request residence permits for a period that does not exceed five years in exchange for purchase of functional real estate property in Riga, Jurmala, Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils, Saulkrasti or Stopini worth at least EUR 250,000.

Amendments will come into force on 1 July.

Ref: 102.109.109.7982


Leave a reply

Latvia has the eighth highest unemployment level in the European Union

In August, the highest unemployment level in the European Union was registered in Spain, where it reached 19.5%. Latvia’s unemployment level was 9.3% in August. It is the eighth highest among EU member states, according to data published by Eurostat on Friday.

Baltic States reach an agreement on Rail Baltica contract

The agreement on Rail Baltica project’s financing and completion conditions has been reached and signed in all three Baltic capitals, as Saeima’s European Affairs Committee was told by Chairperson of RB Rail Baiba Rubesa.

Lithuanian MPs overturn contentious law ID’ing all booze buyers

After a fortnight of grocery retailers’ mandatory carding, Lithuanian lawmakers gave in to the angry alcohol buyers’ demand to repeal the order and passed this week an amendment that now requires sellers to ID only those alcohol buyers who seem to be underage.

WADA adds meldonium to the list of banned substances in 2017

The World Anti-Doping Agency has published its list of banned substances for 2017. Meldonium, developed in Latvia, will remain on this list.

Weekends expected to be rainy in Latvia; next week to be especially cold

A new cyclone will reach Latvia on Sunday. It will bring with it strong rain. After that, an anti-cyclone will reach Latvia on Tuesday. Strong northern wind will carry over colder masses of air to the country, as reported by Latvian State Environmental, Geology and Meteorology Centre.

10% increase in visitor numbers expected for Riga’s hotels

In 2016, hotels and other places of accommodation in Riga could experience a 10% increase in the number of visitors when compared to 2015, says manager of Riga’s Tourism Development Bureau Vita Jermolovica.

Russian proposal to ban baby boxes gains government backing

A proposal to ban baby boxes in Russia has gained the backing of the federal government but is facing sharp criticism.

Government approves Start-up Operation Support Law draft

On Thursday, 29 September, Latvian government approved Economy Ministry’s proposed draft for Start-up Operation Support Law to support and regulate operations of so-called start-up companies.

Swiss engineering firm ABB expands in Estonia

Swiss engineering system manufacturer ABB group will launch its new regional business service centre in Tallinn in October.

EUR 15,017 donated for infertility treatment programme in Latvia

To help finance infertility treatment programme, charity campaign organized by Butterfly Effect association in cooperation with Elvi and EGV Clinic has raised EUR 15,017 since the beginning of 2016.

Study: counterfeit medicine causes major losses for EU

Because of counterfeit medicine, the legal medical industry in Europe loses EUR 10 billion every year, which accounts for 4.4% of the entire trade volume of the pharmacy sector, as concluded in the latest European Union Intellectual Property Office study about counterfeit medicine and its effect on economies of EU member states.

«Death» shows support to UGF’s work in government during doctors’ protest

The protest act organized by Latvian Health and Social Care Workers Union near the Saeima gathered 300 to 350 people.

U.S. warns Russia about bombing of besieged Syrian city

The U.S. has warned Russia that Washington would stop cooperation with Moscow in Syria if Moscow would not stop the bombardment of besieged Aleppo.

Latvia supports Kristalina Georgieva as candidate for UN Secretary General post

Latvia supports EC Vice-President Kristalina Georgieva as a candidate for the post of UN Secretary General, as confirmed by Foreign Affairs Minister Edgars Rinkevics.

Aseradens: decline of electricity prices expected in Latvia

If reforms are successfully realized in the electrical energy market, Latvia may experience a decline in electricity prices, as announced by Economy Minister Arvils Aseradens.

MH17 investigators: Missile came from Russia, was shot from rebel-held territory

The Dutch-led international team of prosecutors stated on September 28 that it has found that the missile with which passenger plane on flight MH17 was downed in 2014 over eastern Ukraine was shot from territory held by pro-Kremlin separatists.

Politicians forget about transit industry as a source of income for state budget

Politicians and the public regularly discuss the lack of budget funds to afford improvements for healthcare, education, law enforcement. New taxes and new ways of adding money to the state chancellery are sought left and right. They forget that transit has always been a stable source of income for Latvia, Vesti Segodnya writes.

Study: most girls and half of boys in Riga do not tie their future to exact sciences

73.5% of girls and 49.1% of boys in Riga do not see their future associated with exact sciences, according to results of Jaunieši IT study carried out in Riga’s schools.

Businessmen: faster adoption of e-procurements system would benefit competition

To ensure more transparent procurements, businessmen urge government to introduce an electronic procurement system as soon as possible. This system is expected to ensure honest competition and help resolve other problems that are often present in state and municipal procurements.

President: KNAB supervisory institutions should explain the loss of classified documents

Institutions that supervise the Corruption Prevention and Combating Bureau have to determine the cause behind the loss of classified documents, as announced by Latvian President Raimonds Vejonis.

Data on students and graduates to be compiled for more effective budget planning

To help develop the State Education Information System, it is planned to expand one of its sections by creating a register for students and graduates. This is provided by amendments to the Law on Institutions of Higher Education supported by the Cabinet of Ministers.

Global trade growth slowing, WTO

The World Trade Organisation has this week released an altered forecast for the global trade growth for 2016, which, comparing to its previous forecast for the same period has been cut by over a third.

Latvia resettles 82 people as part of EU refugee programme

Today, 28 September, nine people were transported to Latvia from Greece as part of the European Union’s resettlement programme, as LETA was informed by the Office for Citizenship and Migration Affairs.

August’s construction costs declined by 0.4% in Latvia

Compared to July, the level of construction costs in Latvia dropped by 0.4% in August 2016. Prices of building materials decreased by 0.8%, maintenance and operational costs of machinery and equipment reduced by 0.1%, whereas labour remuneration of workers did not witness any significant changes.

One-third of state institutions to not have to report data on employees’ remuneration

On Tuesday, 27 September, the Latvian government accepted amendments to the Law on Remuneration of Officials and Employees of State and Self-government Authorities that relieve 233 state institutions from the duty to report information about remuneration of their employees.