REAL ESTATE ACQUISITION

1. Residence permit in Latvia Real estate acquisition Only 3 steps to reach your goal! www.sangroup.lv

2. Step 1 Real estate acquisition Grounds for issuance: one or several real estate objects located in Riga, Riga Planning Region or a city of the Republic of Latvia with the total value of the transactions not less than 100,000 latsor one or several real estate objects located outside of Riga, Riga Planning Region, or a city of the Republic of Latvia with total transaction value not less than 50,000 lats. Map of Riga Planning Region Cities of Latvia: Daugavpilswww.daugavpils.lv Jelgavawww.jelgava.lv Jūrmalawww.jurmala.lv Liepājawww.liepaja.lv Rēzeknewww.rezekne.lv Rīgawww.riga.lv Valmierawww.valmiera.lv Ventspilswww.ventspils.lv Terms and conditions : Free and clear of past and current real property tax debts, and in conformance with the agreement the transaction value should be paid by non-cash means of payment. www.sangroup.lv

3. Step 2 Submission of documents to a diplomatic or consular representative office of the Republic of Latvia abroad Foreigner presents a valid passport and submits the following documents: a definite sample form for a residence permit request; a photography 3 х 4 cm; a statement on fluorography or X-ray examining results; a statement on punishability issued by a competent institution of the citizenship or the host country (for a foreigner more than 14 years old), if a foreigner has resided in that country longer than 12 months; a document confirming the required minimum subsistence level (EUR 854 for adults and EUR 171 for a minor child per month)*; a document confirming the envisaged place of residence in the Republic of Latvia**; a document certifying that the payment for the real property acquired has been made by non-cash means of payment; a document certifying that the foreigner has no real property tax debts if he owns the real property more than one year; a document confirming the state duty payment. When submitting a request for temporary residence permit the original documents or notarially certified copies should be submitted. When submitting notarially uncertified copies, originals of such documents must be presented. Examination of documents can take 5 to 30 days. www.sangroup.lv

4. A document confirming the required minimum subsistence level (of choice)* A document issued by the credit institution informing about the condition of aforeigner’s bank account. If the credit institution is not registered in Latvia, an international charge card which is valid in the Republic of Latvia is made; A confirmation issued by the credit institution informing about the condition of another persons bank account, indicating that the foreigner has right to act with the corresponding account. travel cheques. A document confirming the envisaged place of residence in the Republic of Latvia(of choice)** Rights issued on the name of foreigner to settle in a real property (record in the Land Register) or rent contract or agreement of lease of real property on the name of foreigner. If the tenant is a privateperson or limited liability company (Ltd.), then in addition a document that confirms tenant’s right of ownership of the real property should be submitted. If there are no such documents on the name of foreigner who wants to receive a residence permit, then a foreigner must submit: A copy of the Land Register of real property and permit (consent) from the owner who owns real property, to declare a residence of a foreigner in owner’s property; or Rent contract or agreement of lease of real property, and tenant’s permit (consent) for the declaration of the foreigner’s residence in property belonging to the tenant. If a tenant is a privateperson or limited liability company (Ltd.), then in addition documents that confirms tenant’s right of ownership of this real property should be submitted. www.sangroup.lv

5. Step 3 Receiving a residence permit To receive a residence permit, a foreigner must appear in the Office of Citizenship and Migration Affairs to receive a stitch-in in the passport. Upon receipt of temporary residence permit, a foreigner shall present a valid health insurance policy. Upon receiving primary temporary residence permit or temporary residence permit after a break of more than 90 days, a foreigner must present a health certificate issued by Latvian medical institution that the foreigner does not suffer from tuberculosis (T.B) in the active phase. Residence permit is issued for up to 5 years with the obligation to register it every year. With the foreigner a residence permit can also receive his/her spouse, minor children and persons being in a guardian (under the court decision). www.sangroup.lv

6. Expenses www.sangroup.lv

7. Registration of a residence permit Documents for registration of a residence permit shall be submitted 30 to 90 days prior to the date of expiry of the registration of a residence permit For a residence permit registration, a foreigner shall present : a valid travel document; a valid health insurance policy; a document certifying that the foreigner has no real property tax debts. The decision on registration is valid 3 months. If in this period of time the foreigner doesnot receive the residence permit, submitted documents and paid in state duty will not be returned. www.sangroup.lv

8. SAN Group, SIA Andreja street 7/9, Ventspils LV-3601 Latvia Tel.: (+371) 63627027 Fax: (+371) 63627028 E-mail: info@sangroup.lv www.sangroup.lv