New Visa for Property Owners

karelia wrote:

I heard the new visa is now in place.  I was reading about it, it looks like you have to renew every year and you cannot apply for permanent residence even after five years, is this correct?

Yes, when you own a property you can apply for a 1 year residency permit, which you can renew each year provided you still own a property. Apparently after 5 years there is no possibility to apply to the "licna karta" (valid 5 years), so you will have to continue applying each year for a renewal (the procedure for renewals is a bit more simple than for the 1st application).

karelia wrote:

What are the advantages of permanent residence after five years?

I think the only advantage is that you then only have to renew every 5 years, so you don't have to go through the procedure each year.The same could apply to car ownership / registrations procedures etc. but not too sure. Anyone has a say on this?

karelia wrote:

I am looking at the pro's and cons, any info would be helpful.

I guess if one wishes to one day have some sort or more permanent residential status (5 years-Licna-Karta or (one can dream) passport) then one had better go for the residence permit based on a work permit, or maybe marriage (?) rather than the residence permit based on property ownership, which will always only be temporary...


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