VL-TB/LNNK supports residency permits to be issued in exchange for investments into economic development fund

RIGA, Sept 27 - All for Latvia!-For Fatherland and Freedom/LNNK (VL-TB/LNNK) supports residency permits being issues in exchange for investments into economic development fund, the party's board member Janis Iesalnieks said on Thursday during a special discussion on residency permits and immigration organized by the Employers’ Confederation of Latvia.

VL-TB/LNNK still insists that issuing residency permits in exchange for purchasing real-estate in Latvia must be stopped, Iesalnieks said.

He emphasized that VL-TB/LNNK believes that the Economy Ministry's initiative on the creation of an economic development fund is a positive one, which foresees that residency permits are granted to foreign citizens in exchange for investments into this fund.

Reform Party MP Vilnis Kirsis also agreed to this point or view, pointing out that the creation of such a fund would be more effective and beneficial to the Latvian economy. ''The residency permit is granted after an investment is made into the fund, which goes towards financing real economic development in the country. This means changing the emphasis from investment into real-estate, to investment into the country's economy,'' said Kirsis.

The deputy head of Unity's group at Saeima Edvards Smiltens admitted that the residency permit program is not perfect, and thus could be improved. He says that he sees the economic benefits of the program, but also several risks - does the program negatively effect real-estate prices, will it not create a new real-estate price bubble, and how to integrate those persons who decide to remain in Latvia after being granted residency permits?

Smiltens also believes that an economic development fund would solve several matters, and that money put into the fund could be diverted to other goals, like improving roads etc.
Meanwhile, Union of Greens and Farmers representative Dana Reizniece-Ozola pointed out that her party believes that the current system must be retained.

As reported, VL-TB/LNNK has threatened to block the passing of next year's budget if the matter on granting residency permits in exchange for purchasing real-estate is not solved.
VL-TB/LNNK calls on its coalition partners to agree on when and how to put an end to granting residence permits in exchange for real estate purchases.

VL-TB/LNNK believes that putting an end to the sale of residence permits is an important priority and it must be done by the current government, according to the party's statement to the mass media. Therefore, the party urges Finance Minister Andris Vilks (Unity) not to take into account income from the sale of residence permits when drafting the 2014 national budget.

VL-TB/LNNK also expects that its stance will be supported by coalition partners - Unity and the Reform Party, as well as Greens/Farmers. VL-TB/LNNK is ready to discuss when and how to implement these changes, but there can be no talk of keeping the current system, the party points out.
leta.lv

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