## Rinkēvičs and Kulbergs asked… As is known, the servants of the people have been "struggling" with the new Immigration Law for almost 5 years — since the last Saeima. Finally, just before the summer holidays, the current parliament adopted the long-suffering law in its final reading. However, it has not yet come into force — the president sent it back for revision, expressing specific complaints and wishes. One of them concerned the possibility for investors to obtain temporary residence permits for purchasing real estate in Latvia. The head of state logically noted that citizens of friendly countries should have the opportunity to obtain residence permits for investments, including in real estate. Prime Minister Andris Kulbergs held the same position, who, while still a deputy, proposed granting residence permits to those who invest money in an alternative investment fund aimed at developing the country's economy. However, the majority of deputies on the Saeima's Defense and Internal Affairs Commission rejected the corresponding amendments prepared by the Ministry of Economics. Even increasing the minimum transaction amount for real estate to obtain a residence permit from 250,000 to 300,000 euros did not help. ## Residence permits not for Russians, but for allies It should be noted: the amendments from the Ministry of Economics, of course, did not imply granting residence permits to citizens of the Russian Federation and the Republic of Belarus, as there is already a complete ban in another law on citizens of the Russian Federation and the Republic of Belarus and legal entities with owners from these two countries acquiring real estate in Latvia! Naturally, the amendment did not imply granting residence permits, for example, to citizens of Afghanistan, Somalia, Zimbabwe, or Tajikistan. The proposal from the Ministry of Economics clearly stated that it concerns citizens of EU and NATO countries, OECD, as well as those countries whose citizens can enter Latvia without a visa — for example, Israel. However, the majority of deputies decided to take a hardline stance before the elections — Andris Kulbergs' attempts to persuade coalition partners from "New Unity" and the National Alliance to support these proposals were in vain. The "Progressives" also opposed granting residence permits to wealthy foreign capitalists, who, ironically, on the same plenary session, requested to consider their appeal regarding possible human rights violations concerning immigrants (read — illegal migrants). As noted from the Saeima podium by deputy Edmunds Zivtiņš ("Latvia First"), we are letting the poor into the country, but we do not need wealthy people from the USA, Australia, or Israel... ## “False illusion of investments” But opponents of the residence permit program have their own logic. “Let’s call a spade a spade! What has been proposed to us is not a new model of economic breakthrough. It is a reincarnation of a notorious idea. Sixteen years ago, when this scheme was introduced, we remember very well what was achieved with it. This opportunity was brazenly exploited by Russian oligarchs and the Kremlin-connected elite. "New Unity" was already against this trade in residence permits and also voted "against" in principle. Our position has not changed. We are categorically against this today. Since 2014, we have been working purposefully to abandon practices that threaten the security of this country. What has this system actually given to Latvia? It was simply a false illusion of investments. The only real winners were some magnates and intermediaries in the real estate sector. Meanwhile, for our society, for our young families, it brought an artificially heated market and disproportionate price increases. And we should not manipulate statements that we are allegedly repelling investors. Our strategic allies — citizens and entrepreneurs from EU and NATO countries — already face no obstacles to invest in our economy and strengthen Latvia. So we will not return to the past, we will not open the doors to new security risks, and we will reject this attempt to bring back old schemes!” - stated Agnese Krasta, a deputy from "New Unity," from the podium. The “false illusion of investments,” as the deputy stated, brought Latvia a total of 1.67 billion euros, of which the lion's share — 1.39 billion euros — comes from real estate transactions. It should be noted that this is only direct revenue to the state treasury, and there are also indirect revenues — through taxes from builders, property management, through non-residents' spending on food, repairs, cars, service personnel, clothing, etc. “If we refuse the opportunity to attract funds from investors from friendly countries, then I want to ask: what will we live on then?!” - rhetorically asked Prime Minister Andris Kulbergs, who is determined to still achieve the resumption of the residence permit program in exchange for investments. Moreover, still in this Saeima! He intends to submit amendments to the adopted law in the very near future. It should be noted that the law has not yet come into force — since changes have been made to it, the head of state has the right to return it for revision again. Yesterday, the LANīDA real estate association also addressed the president with a corresponding letter. ## All hope on the new Saeima? We dare to assume that Rinkēvičs will not do this: he sees that this residence permit program does not have a majority in this Saeima. It would be more logical to wait for the elections and propose that the new parliament make amendments to the law. Apparently, in the new Saeima, there will be a majority in favor of attracting investments! Especially against the backdrop of the growing need for defense funding and considering that the economy is growing very slowly, and we have practically exhausted all credit opportunities. Otherwise, we will simply have to cut budget expenditures — cut to the bone!
