1. EU RESIDENCE PERMIT

2. Residence permit in Latvia On 1 July, 2010 amendments to the Immigration Law of Latvia came into effect. That allow foreign investors and their family members to obtain residence permit in Latvia. The residence permit provides free movement ability within the Schengen area that currently consists of 25 European countries. The residence permit holder has an obligation to visit Riga once a year for a registration. There are no other restrictions. The residence permit is issued for five years and may be extended. The new procedure is introduced for the three types of investors. Starting from 2 April 2012 upon obtaining a residence permit you will get an EU national ID card instead of the insert in your passport.

3. Financial Investment A subordinated term deposit for a period of five years in a Latvian bank starting from LVL 200,000 (approximately EUR 300,000 or USD 400,000) Current rates: 5% for term deposits in EUR and 4% in USD AdvantagesDisadvantages Fast and easy High deposit rate Low to no risk No expenses No Credit card VISA/MC Platinum Charge free service 0% interest rate for EUR 50 000 credit limit

4. Real estate Investments Acquisition of real estate in Riga and other regions of Latvia: apartments commercial objects industrial objects land LVL 100,000 (approximately EUR 145,000) for Riga, Jūrmala and other large cities LVL 50,000 (approximately EUR 73,000) for towns and rural areas

5. Real estate investments The average price for a square meter of a standard apartment in Riga: AdvantagesDisadvantages speculative potential utility payments 500-600 EUR may be used for private needs leasing possibilities maintenance costs additional expenses

6. Business Investment Investment in the equity capital of a Latvian company starting from LVL 25,000 (approximately EUR 36,000), annual taxes of the company should exceed LVL 20,000 (approximately EUR 28,000). AdvantagesDisadvantages business facility in EU need to participate in company management possibility of a profit gain possibility of a non- core business activities market and country risks

7. Procedure and Terms Duration of the application process: Subordinated loan – one to three working days Real estate purchase – starting from three weeks Purchase of a business or a share in one – ….. 1. Submission of the application to the Latvian Consulate (once a week) 2. Decision making by a competent authority (Office of Citizenship and Migration Affairs) – till 30 days 3. Obtaining a single-entry visa (minimum three days) and arrival in Riga 4. Medical examination – minimum one day 5. Receiving an ID card – from 2 to 10 days 6.

8. Best practice of Rietumu Rietumu was the first bank in Latvia to offer its clients consulting and support in obtaining a residence permit in Latvia. The bank has arranged a special department and information resource for this: Since 1 July: The first residence permit was obtained by a Rietumu Bank client on 13 September, 2010. The entire procedure took 4 weeks. around 100,000 pageviews >1500 inquiries 500 investors

9. Rietumu Rietumu is the largest private bank in Latvia and Baltics. It was established in 1992. The bank specialises in corporate and private banking. The Main principles of the Rietumu business philosophy: - reliability - personal approach - rational prudence - considerate and prudent risk assessment - control of expenses

10. Rietumu The Bank and the Rietumu Financial Group are headquartered in Riga. Representative offices and subsidiary structures of the Group operate in Russia, Belarus, Kazakhstan, Ukraine, Romania, France, Armenia and Azerbaijan.

11. Rietumu Bank is a symbol of success in the Latvian banking system for many years. Despite the current financial turbulence, the Bank continues to operate at a steady profit. Rietumu Net audited profit of Rietumu Bank accounted for EUR 15.1 million as of 31 December, 2011.

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