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Wednesday 21.02.2018 | Name days: Eleonora, Ariadne
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Vejonis is dissatisfied with Saeima’s practice of submitting important amendments at the last moment

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvian President Raimonds Vejonis is dissatisfied with the parliament’s practice to rush important amendments to laws and submit them at the last moment without allowing officials to review them properly.

«I have emphasized multiple times that I do not like the Saeima’s practice of rushing amendments in the second and third readings without allowing experts and Saeima’s legal experts,» – Vejonis told the media, commenting on the Saeima’s approved amendments to the Immigration Law.

He said that has yet to be provided with the text of the amendments recently approved by the Saeima in relation to the Immigration Law. He has been receiving numerous letters containing complaints about those amendments lately.

He added that usually the Saeima organizes meetings of experts to review amendments before they can be approved in the final reading.

As it is known, the Saeima approved massive amendments to the Immigration Law in the third and final reading last Thursday. At the same time, multiple other proposals did not receive support of the majority of the parliament.

It is stated in the law that foreigners will be able to receive residence permits even if they have purchased no less than two pieces of real estate properties outside of Riga, Jurmala, Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils, Saulkrasti or Stopini worth at least EUR 250,000. This also changes the established redaction of the law that allows foreigners to procure at least on piece of property worth at least EUR 250,000 and be provided with residence permits in exchange.

The regulation of the law that allows foreigners to request residence permit in exchange for procuring real estate properties worth no less than EUR 250,000 will remain in force.

Changes have also been added to the order that government the issue of residence permits in exchange for investments in businesses. It has been added to the law that in order to receive residence permits in such a way, it is also necessary to pay a fee to the state budget – EUR 10,000. One sub-option states that it is necessary to invest EUR 50,000 in company capital if the company has up to 50 employees and turnover or annual balance does not exceed EUR 10 million. Under such conditions, it will be possible to issue residence permits to no more than ten foreigners.

If a company has more than 50 employees and the company’s annual balance exceeds EUR 10 million, foreigners have to invest at least EUR 100,000 in order to be provided with residence permits.

The law also includes the entry regarding the minimal tax fee that has to be paid to the state or municipal budgets in addition to investments to investments into companies. The minimal tax fees will have to the at least EUR 40,000 or EUR 100,000 depending on the level of investments.

Ref: 102.109.109.4092


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