Latvia approved 30 applications for investor visas and 53 dependent visas under its so-called golden visa programme in the first half of 2024, Investment Migration Insider reports. The biggest number of approved applications were submitted by Chinese (11) and Turkish (7) nationals. The EUR 50,000 business investment option accounted for 22 and real estate investments…
A notorious leader of organised crime in Latvia has been arrested in an international operation, LSM reports. Latvia’s State Police, in cooperation with Europol and the Spanish National Police, detained 16 people, including 10 in Latvia and 6 in Spain. The group is suspected of selling narcotics and of large-scale money laundering. Police confiscated marijuana,…
The Estonian government has allocated a record EUR 185mn of EU funds for renovating apartment buildings, ERR reports. Infrastructure Minister Vladimir Svet said that another EUR 80-90mn would be available for renovations annually over the next three years. The state will thus provide altogether almost EUR 500mn of support through various instruments for apartment building…
Latvia has built four surveillance towers on the country’s border with Belarus, Baltic News Network reports. The state real estate company, Valsts Nekustamie Ipasumi (VNI), said that the towers, located on the Daugava River section of the border, would enable monitoring the border more effectively. VNI plans to build altogether six towers on the border….
One of Estonia’s wealthiest businessmen, Margus Linnamäe, will buy out his business partner, Ivar Vendelin, in the Apollo and MM Group investment companies, ERR reports. Vendelin will focus on real estate investments instead. Following the transaction, Apollo will be fully owned by MM Group. Linnamäe will own 98% and lawyer Aare Kurist the remaining 2%…
Average housing prices in Latvia rose by 1.1% in the second quarter of 2024 from the same period of 2023, according to provisional data from the Central Statistical Bureau (CSP), LSM reports. Prices of new housing increased by 11.4%, whereas the average price of existing housing dropped by 2.0% over a year. Compared to the first…
Estonia is considering housing foreign prisoners in one of its prisons, Justice Minister Liisa Pakosta announced, BBC reports. Estonia’s three prisons in Tallinn, Tartu, and Jõhvi have room for around 1,000 additional prisoners, according to ERR. Pakosta estimated that the state could earn up to EUR 30mn per year from renting out prison space to…
The Latvian government plans to restrict the ability of Russian citizens to buy land in Latvia, LETA reports. The ruling three-party coalition has agreed on the plan conceptually, following a proposal from the Ministry of Agriculture. The government will analyse the example of similar draft legislation in Finland. Latvian Foreign Minister Baiba Braze has discussed…
Several countries have expressed interest in renting Estonia’s empty prison space, according to the Ministry of Justice, ERR reports. A ministry official said that neighbouring countries had shown interest, and that European statistics indicated a demand for prison space. However, legislative amendments were needed before renting out prison space, the official added. Earlier reports suggested…