Latvia is one of Europe’s youngest democracies, having regained independence in the 1990s following the fall of the Soviet Union. Latvia has undergone a number of reforms in the last 25 years to transform its economy from its volatile history. Latvia has been a full member of the European Union since 2004, and has just accepted the Euro currency. The Latvian economy still has problems despite advancements in economic independence and quality of living. It is still among the most impoverished countries in the EU. However, Riga, the country’s capital, has a thriving job market. In Riga, many multinational corporations have offices. Many tech companies are drawn to this Baltic State by the lower taxes and salaries.
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How to find a job in Latvia and get a Residence Permit
Currently, Riga has a very diversified population, with Latvians making up the majority. There are substantial populations of Poles, Russians, and Ukrainians in the Latvian capital. Swedish visitors also come in large numbers to the city because of its proximity to Scandinavian nations. European students lately began picking Latvia for their academic degrees from nations like India. Additionally, Latvia is making an effort to entice talent with its new startup visa. Currently, Riga has a very diversified population, with Latvians making up the majority. There are substantial populations of Poles, Russians, and Ukrainians in the Latvian capital. Swedish visitors also come in large numbers to the city because of its proximity to Scandinavian nations. European students lately began picking Latvia for their academic degrees from countries like India. Additionally, Latvia is making an effort to entice talent with its new startup visa.
EU citizens do not require a work permit to begin a new employment in Latvia if they are EU citizens. Due to the minimal amount of bureaucracy, you will compete under the same rules as EU citizens.
Non–EU citizens: A residency permit is required for employment and is typically arranged by your employer. If you have language or IT abilities, finding employment as a non-EU foreigner is not too difficult. Most in these fields, where foreigners with the necessary skills typically fill the gap.
Some useful job portals
The largest job board in Latvian is CV.LV. Along with versions in English, Russian, and Latvian. There are several offers available in English (especially IT related).
Job opportunities on the Latvian Government Job Portal typically demand proficiency in the Latvian language.
The largest classifieds website in Latvia, SS.LV, lists houses, automobiles, and a wide range of other goods and services in addition to job postings.
The European Union maintains the fantastic website European Job Mobility Portal, which is an excellent resource for finding work in Latvia and other EU member states.
Another reliable job site in Latvia, visidarbi.lv has a large selection of opportunities in Latvian, Russian, and English.
Taxation in Latvia
Both the federal and local governments in Latvia impose taxes, which together make up over 30% of the GDP of the nation. Latvia’s income tax is a flat rate, in contrast to the progressive sliding scale used by the majority of European nations. This means that regardless of your overall salary, any money you make while working in Latvia will be subject to a 24% income tax. Up to 900 EUR per year and 1980 EUR per year for each dependent, you are exempt from paying income tax. However, in addition to your income tax, which is now levied at a rate of 11%, you will also be obliged to make social security contributions. The maximum amount of social security contributions is 46,600 EUR of annual income. Although the value added tax is set at 21%, some commodities, such heating and prescription drugs, are subject to a lesser rate of 12%. Additionally, some items—like tuition, housing, and medical expenses—are exempt from the VAT.