IDEAS home Printed from https://ideas.repec.org/a/vrs/bjrecm/v5y2017i1p248-258n19.html
   My bibliography  Save this article

Limiting the Program of Temporary Residence Permits for Foreigners Based on Real Property Investment in Latvia

Author

Listed:
  • Viesturs Jānis

    (Institute of Civil Engineering and Real Estate Economics, Riga Technical University, Riga, Latvia)

  • Puķīte Iveta

    (Institute of Civil Engineering and Real Estate Economics, Riga Technical University, Latvia)

  • Vanags Jānis

    (Institute of Civil Engineering and Real Estate Economics, Riga Technical University, Riga, Latvia)

  • Nikuradze Irakli

    (Dar Building (Ltd.), Batumi, Georgia)

Abstract

There exists sharp competition amongst nations regarding the increasing foreign investments; therefore, nations are willing to offer foreign investors and their families some type of political bonus, such as temporary residence permit, permanent residence permit, or even citizenship. The simplest way to entice investors is to offer them and their family members temporary residence permits in exchange for investments - simply by purchasing real property (via the so-called “Golden Visa” program). Such a program was launched in Latvia in 2010; however, significant limitations were placed on it in 2014. This research (1) compares the “Golden Visa” programs in different countries in the world, (2) determines the impact of the program on the real property market of Latvia, and (3) searches for the main reason why limitations were applied to the temporary residence permit program in 2014, which resulted in a significant decrease in the international investments in Latvia (this part of the paper is based on the results of the following research: Viesturs, J., Auziņš, A., & Štaube, T. (2017). Arguments Used for Restricting International Real Property Transactions: Case Study of Latvia).

Suggested Citation

  • Viesturs Jānis & Puķīte Iveta & Vanags Jānis & Nikuradze Irakli, 2017. "Limiting the Program of Temporary Residence Permits for Foreigners Based on Real Property Investment in Latvia," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 5(1), pages 248-258, November.
    • Handle: RePEc:vrs:bjrecm:v:5:y:2017:i:1:p:248-258:n:19
    DOI: 10.1515/bjreecm-2017-0019
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/bjreecm-2017-0019
    Download Restriction: no
    File URL: https://libkey.io/10.1515/bjreecm-2017-0019?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:bjrecm:v:5:y:2017:i:1:p:248-258:n:19. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.