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Schengen Visa and Residence permit: Information and Application

Schengen Visa / Residence permit

Schengen Visa / Residence permit

Schengen Visa is the document issued by the appropriate authorities for visiting/travelling in and within the Schengen Area. Schengen area includes 26 European countries (22 of which are EU members).

Before a trip, it is important to remember that the travel to the Schengen countries and within the European Union needs a valid travel document. Despite the fact that the border does not exist anymore, at any time and at the time a State may establish inspection.

ICD Fiduciaries provides practical and full support in obtaining residence permits in Latvia (a Schengen area member state).

Who needs a Schengen Visa and how to apply for it?

The citizens of the non-Schengen member countries are requested a mandatory Schengen Visa in order to enter the Schengen Zone. There are exceptions to this rule, however: for some countries that are not part of the Schengen Agreement yet aren’t required a visa to enter the Schengen zone.

An EU residence permit ensures you and your family members with the right to travel freely in the entire territory of the Schengen area. This residence permit is available both for investors and their family members – spouses, underaged children and persons under the custody/official care of such investors.

Residence permits are issued within 3 – 4 weeks. The simplest way to obtain a residence permit for a period for 5 years is a financial investment (a deposit placed in a Latvian bank).

Advantages and benefits of having a Schengen Visa:

  • Fast and easy way to obtain an EU residence permit valid for 5 years
  • Just one visit per year to Riga for registration and for renewal
  • No risk
  • Free movement opportunities within the Schengen area
  • Easy renewal for five more years
  • Not an expense but an investment
  • Starting from 2 April 2012 upon obtaining a residence permit you will get an EU national ID card instead of the insert in your passport.

You will be also interested to read about:

Offshore Bank account opening,

Process of opening offshore bank account,

Offshore Banking services for Corporate clients,

Offshore Wealth Management.

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