Latvia may tighten GNW program for investments

The Ministry of Internal Affairs of Latvia has prepared proposals to change the conditions for obtaining a temporary residence permit in the country in exchange for investments. This is written by the LSM portal. According to journalists, the Ministry of Internal Affairs of Latvia proposes to increase the amount of investments in real estate from the current 250,000 euros to 500,000 euros. The second opportunity to acquire GNW will remain the opportunity to invest in the enterprise with annual turnover of at least 50 million euros and a minimum number of working employees of 50 people. According to the news agency, between 2010 and 2019, the GNW program brought 1.5 billion investments to Latvia's economy. This program was tightened in 2014. After that, the program actually stopped working. The Government of Latvia plans to take a decision on the new terms of the GNW during the meeting on March 10.