On 2 June 2022, the parliament (Saeima) of the Republic of Latvia passed amendments to the Immigration Law[1], which specifically introduces remote work visas in Latvia (hereinafter, “RWV”). RWV’s are intended for third-country nationals whose employment characteristics allow them to work remotely while residing in Latvia.
To apply for the RWV, a candidate must evidence his/her employment status with a foreign employer, registered in an OECD member state or to provide proof of registration as a self-employed person in an OECD member state for at least 6 (six) months prior to applying for the RWV. At the same time, the candidate’s salary must be at least 2.5 (two and a half) times the average salary in the Republic of Latvia (the average salary in 2021 was EUR 1277 (one thousand two hundred and seventy-seven euro)[2].
The RWV is valid for 1 (one) year, and the candidate can extend the latter by applying for an extension of 1 (one) year. After the extension period, the applicant can apply for a Temporary Residence Permit in Latvia.
The RWV does not grant rights of employment in Latvia nor supports obtaining rights of residence for the applicant’s family members.
[1] The Legislation documents can be found on the Saeima legislation database: Likumprojektu var skatīt Saeimas datu bāzē: https://titania.saeima.lv/LIVS13/saeimalivs13.nsf/webSasaiste?OpenView&restricttocategory=1335/Lp13
[2] Official statistics of Latvia available here: https://stat.gov.lv/lv/statistikas-temas/darbs/alga/preses-relizes/8227-darba-samaksas-parmainas-2021-gada
VILGERTS team advised AS DelfinGroup on the conditions of the unsecured bond issue prospectus in the amount of EUR 15 million. The prospectus for the issue of unsecured bonds includes both the opportunity for new investors to purchase the new unsecured bonds from 4 August 2023, as well as the opportunity for existing investors of certain categories of bonds to exchange existing bonds for new ones.
August 22, 2023
The VILGERTS’ team is advising East Capital Real Estate on its acquisition of 100% of the shares in Hepsor U30 SIA (a subsidiary of the Estonian company, Hepsor Latvia OÜ), which owns a commercial building called “StokOfiss U30”, developed by Hepsor (with a total rental area of 3,642 m2). The transaction is valued above EUR 5 million. StokOfiss U30 is a multifunctional commercial building with a three-in-one leased space solution, including a sales premises, office space and a warehouse.
June 13, 2023
VILGERTS advised SIA "Biļešu paradīze", a company of Ekspress Grupp AS, in a dispute in which SIA "Biļešu serviss" contested the results of the procurement tender concerning the sale of tickets for the upcoming and the largest national “Song and Dance Festival” in Latvia. As a result, the tender results were left unaltered and SIA "Biļešu paradīze" concluded a contract with the contracting authority.
May 16, 2023
The VILGERTS team advised the owner and manager of Galleria Riga, "East Capital Real Estate", in successfully finalising a significant long-term lease agreement with Workland. The agreement involves a remarkable investment (exceeding EUR 3 million) and aimed at transforming the expansive fifth floor of Galleria Riga, spanning an impressive area of 3,200 m2, into state-of-the-art co-working offices.
May 16, 2023