Getting a job and working in the EU is, for many, the main reason to acquire a residence permit of the respective country. It gives an opportunity to live and provide for the family in a country of your choice, can help acquiring a long-term residence permit, and can even pave the way to foreign citizenship. Moreover, if you choose one of the countries of the European Union, the Schengen zone or the EEA, you can enjoy the following benefits:
non-member country workers treated equally to EU nationals access to professional training for you and your family members social security for you and your family members representation by the local trade unions social and tax advantages free travel to other Schengen area, EU and EEA member-states ability to stay in the country even if you decide to stop working there Choose a country Explore your possibilities and start your journey to working in another county by choosing one of the following jurisdictions (click on a country to learn more about it):
Austria Vacancies available: 129147 Average wage: EUR 2688 a month Average sum after all expenses (before rent): EUR 1954 a month Belgium Vacancies available: 138968 Average wage: EUR 3401 a month Average sum after all expenses (before rent): EUR 2619 a month Bulgaria Vacancies available: 19727 Average wage: EUR 640 a month Average sum after all expenses (before rent): EUR 193 a month Croatia Vacancies available: 18767 Average wage: EUR 1183 a month Average sum after all expenses (before rent): EUR 592 a month Cyprus Vacancies available: 6141 Average wage: EUR 1179 a month Average sum after all expenses (before rent): EUR 486 a month Czech Republic Vacancies available: 289630 Average wage: EUR 1322 a month Average sum after all expenses (before rent): EUR 763 a month Estonia Vacancies available: 11079 Average wage: EUR 1455 a month Average sum after all expenses (before rent): EUR 836 a month Finland Vacancies available: 49497 Average wage: EUR 3371 a month Average sum after all expenses (before rent): EUR 2584 a month Germany Vacancies available: 1375110 Average wage: EUR 3997 a month Average sum after all expenses (before rent): EUR 3231 a month Greece Vacancies available: 14343 Average wage: EUR 1060 a month Average sum after all expenses (before rent): EUR 428 a month Hungary Vacancies available: 78828 Average wage: EUR 1151 a month Average sum after all expenses (before rent): EUR 650 a month Ireland Vacancies available: 19300 Average wage: EUR 3300 a month Average sum after all expenses (before rent): EUR 2438 a month Latvia Vacancies available: 29704 Average wage: EUR 806 a month Average sum after all expenses (before rent): EUR 212 a month Lithuania Vacancies available: 18375 Average wage: EUR 1289 a month Average sum after all expenses (before rent): EUR 767 a month Luxembourg Vacancies available: 7626 Average wage: EUR 5030 a month Average sum after all expenses (before rent): EUR 4091 a month Malta Vacancies available: 7002 Average wage: EUR 1379 a month Average sum after all expenses (before rent): EUR 548 a month Netherlands Vacancies available: 290900 Average wage: EUR 2855 a month Average sum after all expenses (before rent): EUR 1991 a month North Macedonia Vacancies available: 7430 Average wage: EUR 610 a month Average sum after all expenses (before rent): EUR 206 a month Norway Vacancies available: 84149 Average wage: EUR 4713 a month Average sum after all expenses (before rent): EUR 3666 a month Poland Vacancies available: 151394 Average wage: EUR 1196 a month Average sum after all expenses (before rent): EUR 694 a month Portugal Vacancies available: 35124 Average wage: EUR 1154 a month Average sum after all expenses (before rent): EUR 611 a month Romania Vacancies available: 54231 Average wage: EUR 1077 a month Average sum after all expenses (before rent): EUR 638 a month Slovakia Vacancies available: 21732 Average wage: EUR 1023 a month Average sum after all expenses (before rent): EUR 460 a month Slovenia Vacancies available: 18060 Average wage: EUR 1752 a month Average sum after all expenses (before rent): EUR 1111 a month Spain Vacancies available: 137323 Average wage: EUR 2244 a month Average sum after all expenses (before rent): EUR 1597 a month Sweden Vacancies available: 135898 Average wage: EUR 3194 a month Average sum after all expenses (before rent): EUR 2387 a month Switzerland Vacancies available: 83600 Average wage: EUR 5485 a month Average sum after all expenses (before rent): EUR 4089 a month United Kingdom Vacancies available: 830000 Average wage: EUR 2845 a month Average sum after all expenses (before rent): EUR 1930 a month
According to the latest Economic Freedom of the World: 2011 Annual Report, published by the Fraser Institute in Canada, Latvia ranks 60th.
The Fraser Institute collected data from 2009 and compared to the previous year, Latvia fell five places in the Economic Freedom of the World survey.
In a year, Estonia has dropped three spots in the poll to rank 15, but Lithuania has climbed 9 spots to rank 24.
Result of Latvia Latvia received a score of 6.92 out of 10 points.
Hong Kong remains in first place with a score of 9.01.
It is followed by Singapore (8.68 points), New Zealand (8.2), Switzerland (8.03), Australia (7.98), Canada (7.81), Chile (7.77), the United Kingdom ( 7.71), Mauritius (7.67) and the US (7.6).
In total, the Economic Freedom of the World study covers 141 countries. The bottom countries in the survey are Zimbabwe – 4.08, Myanmar – 4.16 and Venezuela – 4.28 (out of 10 points).
The Fraser Institute has been conducting research into the degree of economic freedom since 1996. The Global Index of Economic Freedom consists of sub-indices that describe the degree of freedom in five domains – size of government (spending, taxes and corporations), legal form and security of property rights, access to sound money, freedom of international trade and regulation of credit, work and Company.
Official Name: Republic of Lithuania Capital: Vilnius Total area: 65 300 km2 GDP per capita: $21,615 Native Language: Lithuanian Government: Parliamentary republic Population: 2,955,986 Major Religion: Roman Catholicism Monetary Unit: Euro (EUR)
Lithuania is the southernmost of the three Baltic States - and the largest and most populous of them. Lithuania was the first occupied Soviet republic to break away from the Soviet Union and restore its sovereignty with the March 11, 1990 declaration of independence.
The Lithuanian landscape is mostly flat, with some low hills in the western highlands and the eastern highlands. The highest point is Aukštasis at 294 meters. Lithuania has 758 rivers, more than 2,800 lakes and 99 km of Baltic Sea coast, mostly used for recreation and nature conservation. Forests cover just over 30% of the country.
About 84% of the population are ethnic Lithuanians. The two largest minorities are Poles with just over 6% of the population and Russians with just over 5%. The Lithuanian language belongs to the family of Indo-European languages.
The capital, Vilnius, is a picturesque city on the banks of the Neris and Vilnia rivers, and the architecture in the old part of the city is among the most beautiful in Eastern Europe. Founded in 1579, Vilnius University is a Renaissance-style complex with countless courtyards forming a city within a city.
The President of Lithuania is directly elected for a five-year term and is mainly involved in foreign and security policy. The Lithuanian unicameral parliament, the Seimas, has 141 members.
Perhaps Lithuania's most famous culinary export is cold beet soup. Potatoes are also regularly on the menu, popular dishes are potato pancakes and cepelinai - potato dumplings filled with meat, curd cheese or mushrooms.
Health & Wellbeing The 1992 Lithuanian Constitution guarantees social rights, including paid pre- and postnatal leave for working mothers, old-age and disability pensions, unemployment and sickness benefits, and free medical care.
Economy & Jobs Oil exploration and refining, banking, railroad equipment, electrical machinery, household appliances, mining, iron, steel, chemical manufacturing, natural gas and power generation.
Main attraction Vilnus, Curonian Spit, Druskininkai Resort, Hill of Crosses and Palanga City.
Business In 2003, before joining the European Union, Lithuania had the highest economic growth rate of all candidate and member countries at 8.8% in the third quarter. 2004 – 7.4%; 2005 – 7.8%; 2006 – 7.8%; 2007 – 8.9%, 2008 Q1 – 7.0% GDP growth reflects impressive economic performance and is therefore often referred to as the Baltic Tiger. However, 2009 saw a dramatic fall in GDP of -14.74% due to the overheating of the economy. In 2010, the rate was 1.33%. As of June 2013, the unemployment rate is 10.4%.
Lithuania has a flat tax rate rather than a progressive system. In 2007 income tax was reduced to 24% and in January 2009 to 21%. Lithuanian income levels are lower than in older EU Member States. According to Eurostat data, Lithuania's PPS GDP per capita in 2008 was 61 percent of the EU average.
Historically, modern immigration began in the 18th century, accelerated by the slave trade and industrialization. At this time, three main types of immigration began to emerge: labor migration, refugee migration and urbanization. Since the USA became independent in 1776, while imperialism still dominated Europe, many people immigrated to the USA in the early 19th century, which was considered the land of unlimited opportunity.
The beginning of the 20th century, with the fall of the great colonial empires and the First World War, also left its mark when people from Europe immigrated, driven by fear of war and violence. The aftermath of World War I was the fall of colonialism and the formation of the League of Nations. At this point, an influx of immigrants from the former colonies began, resulting in large numbers of immigrants from the newly independent countries of Africa, the former colonies of France, Great Britain, Spain and the Netherlands.
The League of Nations failed to prevent World War II. The birth of Nazism in Central Europe in the 1930s played a crucial role in immigration, as many Jews began migrating from Europe before the outbreak of World War II. After the Second World War, the United Nations Organization was founded, which has been a peacekeeper around the world ever since. The roots of the European Union also go back to the late 1940s when the Treaty of Paris was signed.
Since then, the principle of freedom of movement has developed rapidly. The newly created Schengen area in Europe allowed the citizens of its member states to move freely without border controls. The United Nations and many countries have ratified treaties on the free movement and granting of asylum to refugees. However, over the past three decades, governments have become very concerned with the problems of terrorism, human trafficking and drug trafficking. As a result, many countries have had to reduce the simplicity of their immigration policies to improve their internal security.
the total amount of transaction (involving one or several real estates) must be at least EUR 250 000 Latvia wide; with the official cadastral value at least EUR 80 000; state fee of 5% from the real estate value must be paid to the government upon receiving the residency permit; only a bank transfer may be used for purchasing a real estate; the foreigner does not have and has never had any real estate tax debts in Latvia; the transaction is concluded after 1 September 2014; real estate acquired from a legal person registered in the Republic of Latvia or a natural person who is a Latvian citizen, Latvian non-citizen, citizen of the European Union; a residence permit is issued after registering the ownership in the Land Register.
Sweden is a European country in Northern Europe. According to statistics, the Kingdom of Sweden has over 10 million inhabitants. Swedish is the official language of the country. The territory of Sweden is 449,964 square kilometers.
Sweden's nominal GDP per capita is around US$40,393. The country's official currency is the Swedish Krona (SEK) and Sweden holds the title of the most populous country in the Nordic countries.
If you work, study or make a living, you have an automatic right of residence in Sweden. After five years you can get a permanent residence permit in Sweden. All Nordic countries such as Denmark, Finland, Norway and Iceland belong to the Nordic group of countries and have an agreement stating that Nordic citizens have the right to live in any Nordic country of their choice and there is no need to apply for a residence permit. The only thing required is registration with the Swedish Tax Agency. Visas are also an issue for foreigners interested in traveling to Sweden.
In Latvia, the registration of VAT payers by the State Tax Service (SRS) in the register of VAT payers is subject to the following provisions:
Article 3 and paragraphs 1 and 9 of Article 26 of the Value Added Tax Act. Cabinet Order No. 933 “Procedures for Applying the Provisions of the Value Added Tax Act”, adopted November 14, 2006. Due to the accession to the EU, some provisions have been added according to which non-taxable persons who carry out an economic activity in the EU area and purchase goods whose value reaches or exceeds EUR 50,000 (excluding VAT) in the current calendar year must be obliged by the state tax authority within entered in the register of persons subject to VAT within 30 days of reaching or exceeding the said amount. After registration, this person can voluntarily apply for deregistration no earlier than 2 years after the date of registration.
Registration applies to the following persons and organizations:
natural persons - registered according to their declared places of residence; legal entities - registered according to their registered addresses; partnerships - registered according to their registered addresses; If a group of people carries out a joint economic activity on the basis of a contract, the natural person authorized to represent this group of people must be registered according to the registered place of residence; if a person from another member state or a person who is not registered in the EU territory carries out one or more taxable domestic transactions. Only companies, such as general partnerships, limited partnerships, sole proprietorships, limited liability companies (SIA) and joint-stock companies (AS), are obliged to submit VAT returns to the Business Register of the Republic of Latvia.
Registration as a VAT payer is mandatory if the total value of taxable transactions performed by a natural or legal person whose declared residence or registered address is in the Republic of Latvia has reached or exceeded LVL 10,000 in the last 12 months. 12 months are not to be considered a calendar year, but can refer to any period of 12 months. Registration must be made within 30 days of reaching or exceeding the stated amount.
The SRS examines the application for registration and decides whether to register a person in the register of persons subject to VAT within 15 working days of receipt of the application.
If the SRS has decided to reject the registration, it will mail this decision to the person concerned, stating the reason for the rejection, within five working days. A person who has received a decision to refuse registration has the right to amend and resubmit the application for registration to the SRS.
A person is deemed to be registered in the SRS register of persons liable for VAT from the date on which the certificate of registration of a person liable for VAT is issued to that person.
Danske Bank Latvia branch is a part of Danske Bank Group. Danske Bank Group is the largest financial enterprise in Denmark and one of the largest in the Nordic region.
In total, the Group serves 5 million retail customers and a significant number of public sector and institutional organisations.
A well-qualified and professional staff provide an individual service tailored to the wishes and needs of customers. The Danske Bank Group employs more than 20 000 staff.
The branch for Danske Bank was opened in 2008 in Latvia. Starting from 2019 Danske Bank will reduce its scope of operations, and gradually will stop providing its banking services in Latvia, withdrawing from the market.
The Baltic Sea region is the fastest growing economic region in Europe. The flow of trade between the states of this region is steadily increasing from year to year. The tax system of Estonia is considered to be one of the most liberal tax systems in the world. In 2000, Estonia implemented a comprehensive tax reform with the aim of creating a tax system that was as simple, understandable and convenient as possible. The main advantage of Estonia is the low-tax system, which can be described as a simple system with no hidden surprises and which was essentially set up to encourage business and increase profits.
The tax system of Estonia includes state taxes set by tax legislation and local taxes levied by local governments or city councils in respective areas according to laws and regulations.
The state taxes are the following:
The state taxes are the following:
excise duty; income taxes; gambling tax; value added tax; land tax; social tax; customs tariffs; heavy goods vehicle tax.
Latvia offers a number of tax incentives to encourage business development. These include:
special economic zones relief through donations Deferred tax payments Research and development tax credit Large investments are tax deductible special economic zones There are four special economic zones in Latvia, three of which are ice-free ports in major cities, one of which is in the capital Riga. The special economic zones of Latvia are:
Riga Freeport Ventspils Freeport Liepāja Freeport Rezekne SEZ The benefits of each of them (ignoring the unrelated benefits such as Rezekne as a major rail hub) are fairly similar, although they may differ somewhat depending on the economic sector and other circumstances:
Up to 100% of the property tax reduction (from an initial 1.5%) Up to 80% corporate tax reduction (from originally 15%) Up to 80% reduction in withholding tax on dividends, management fees and IP (intellectual property) usage fees In the summer of 2016, the Latvian government approved the creation of another SEZ – the Latgale Special Economic Zone. Latgale is the eastern part of Latvia and the new SEZ will be based around the city of Daugavpils – Latvia's second largest city and a major railway hub, best known as the gateway to the Russian market. It is estimated that the new zone will effectively become operational in 2018.
Relief through donations Donations to certain state-funded institutions allow Latvian companies to reduce their corporate income tax by up to 85% of the amount donated. Apart from state-funded organizations registered in Latvia, this also applies to donations to non-profit organizations within the meaning of the Law on Non-Profit Organizations (Sabiedriskā labuma organizāciju likums). In this case, the tax relief may not exceed 20% of the donation amount. All of these rules also apply to donations to organizations with similar legal status registered in the European Union or European Economic Area.
To prevent fraud and tax evasion, the donating organization must not impose any obligations on the recipient in exchange for the donation. In other words, the recipient cannot be legally required to compensate such a donation or make any other compensation for the donation.
Deferred tax payments One of the aims of Latvia's economic policy is to modernize industrial production and keep it efficient, which is why Latvian companies have the right to defer tax payments on profits from machine exchanges. If a company buys a new machine in place of an old one (both should be functionally similar for the operation to be considered a replacement) and sells the old one within 12 months before or after the replacement, profit from it will not accrue in the stated taxable period taxed. Tax payment is deferred until that new machine is sold, or alternatively, payment is further deferred when the new asset is also replaced.
Research and development tax credit There is a possibility of an accelerated amortization of R&D related costs (costs are multiplied by three for tax purposes). This facilitation is intended to promote R&D and applies to employment-related costs and R&D service agreements entered into with certain scientific institutions. These organizations must also be registered in one of the following countries:
European Union European Economic Area A county with which Latvia has a double tax treaty The intellectual property resulting from the R&D activity remains the property of the taxpayer for at least three years. To be eligible for the R&D cost reduction, the taxpayer must have their own project documentation that meets certain rules.
A residence permit in Latvia (Uzturēšanās atļauja in Latvian) is a document (ultimately a physical residence card) that gives a foreigner the right to reside (to live, work, study or conduct business) in the Republic of Latvia for a specified period of time ). indefinite, depending on the type of authorization granted.
A residence permit will make your life a lot easier if you plan to stay in Latvia for more than 90 days, as well as your travel to other Schengen countries (Schengen area members), as it applies to all people holding a residence permit in a Schengen country do not need any additional visas or documents to visit another Schengen country for business or tourism purposes.
Currently there are two main types of residence permits issued by the Republic of Latvia: permanent and temporary.
If you currently have no personal connection to Latvia or anyone there that would entitle you to a residence permit (e.g. two main ways to obtain a residence permit:
Residence permit based on the purchase/acquisition of real estate. If you are willing and able to purchase suitable property or real estate in Latvia, you may have an opportunity to obtain a 5 year residence permit based on real estate purchase The purchased property can be used for any purpose: you can live in it, rent it out, sell it or do anything else Residence permit based on investment. If you have funds to invest in a new or existing business in Latvia, a Business Investment Based Residence Permit may be an option for you. If you have funds to invest but prefer more security than a corporate investment can offer, then a residency permit based on a financial investment with a Latvian bank could be the option for you.
United Kingdom of Great Britain and Northern Ireland (UK) is a constitutional monarchy located off the north-western coast of continental Europe. The country includes the island of Great Britain, the north-eastern part of the island of Ireland and many smaller islands of the British Isles. Large portion of the United Kingdom's GDP comes from the service sector. United Kingdom also has a large automotive business, millions of tourists every year and well developed air traffic.
Company formation When you start a business in the UK you must choose a structure for your business. Most businesses in the UK are: sole traders, limited companies, partnerships. When setting up business in the UK you may need to apply for a licence, depending on what your business is.
Please check the expected company name and address with us to learn if such is available. Details about company Director and Secretary Share Capital and Shareholder Details You must register for VAT with HM Revenue and Customs (HMRC) if your business turnover is more than £79,000.
Maintaining a company Returns must be filed annually, failure to do so is considered a criminal offence and may result in a fine depending on the company type and duration of delay. Your Corporation Tax rate depends on how much profit your company makes and may change on 1 April each year. Corporate tax rate In United Kingdom corporate main tax rate is changed from year to year in 1st April.
Rate From 1 April 2014 Profits £300,000 or less (small profits rate) 20% Profits above £300,000 (main rate) 21% Company types We recommend and offer formation of the following types of companies:
Limited Liability Company Limited Partnership Scottish Limited Partnership(SLP) For more information on benefits of each type please contact us.
Tax system The corporate tax in the UK is 20-23%, but due to the UK taxation system there are commercial opportunities available to reduce tax payable for those engaged in international business. For more information on taxes in the United Kingdom please contact us.
The aim of this section of our website is to advise potential clients on how to open a bank account. Baltic Legal is an international offshore and fiduciary service provider for companies. However, a significant proportion of the companies and trusts we manage set up accounts with international and offshore banks rather than domestic banks. For more information on offshore business, see the offshore services page.
Bank account opening services Our company understands the importance of being able to open a bank account quickly. That is why we have established relationships with the most reliable banks in Latvia that offer excellent online banking services and cheap bank fees. We advise you on all the banks mentioned.
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