Benefits of Company Formation in Latvia:

• Right to Live in the European Union: Establishing a company in Latvia provides the opportunity to live in the EU.
• Opportunity to Open a Bank Account in a Reliable European Bank: This facilitates international financial transactions and credibility.
• Possibility to Relocate to Europe with Family: Offers a pathway for family reunification in Europe.
• Access to Various Social Guarantees: Includes healthcare, education, and other social services available in the EU.

European Union (EU) Blue Card:

• The EU Blue Card is a residence permit allowing its holder to live and work in the EU country that issued the card.
• It also simplifies the process of obtaining permanent residency. In Latvia, the EU Blue Card is issued to attract highly qualified workers from abroad.
• The rights to the EU Blue Card are granted for up to 5 years.

Advantages of the EU Blue Card over Standard Residence Permits:

• More Favorable Conditions in Case of Job Loss: If the unemployment period does not exceed 3 consecutive months, the EU Blue Card is not annulled, and the individual can receive unemployment benefits for up to 3 months. Unemployment benefits for EU Blue Card holders are paid for a maximum of three months.
• Extended Absence Period for Permanent Residency: EU Blue Card holders can be absent from Latvia for a significantly longer period (up to 18 months) compared to others with standard residence permits (up to 12 months), if the absence is related to economic activities as an employee or self-employed person, or voluntary service.

Conditions for Obtaining the EU Blue Card:

• Higher Education Requirement: Applicants must have a higher education (at least 3 years of studies in a specialty or field related to the job contract).
• Salary Thresholds: The salary must not be less than 1.5 times the average gross monthly salary in Latvia for the previous year.
• Reduced Salary Threshold for High-Demand Professions: For professions with a recognized shortage of labor, the salary must not be less than 1.2 times the average gross monthly salary in Latvia for the previous year.