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How can I transfer money into Latvia to apply for a golden visa?

I’m from Egypt and there are restrictions on transferring dollars or euros abroad. Is there a way for me to do it through a third country or can I take it in cash over a few flights (or with several family members each carrying the legal limit, which is 10,000 USD in Egypt)?


Answers
  • EC Holdings
    June 30, 2023

    Cash payments are not possible. The wire transfer for the investment has to be done from a personal bank account of the main applicant. There are no restrictions on where this bank account needs to be located. The simplest solution would be: Open a personal bank account in a country which is not a high risk jurisdiction, for example Dubai or Singapore. If you cannot wire money to such new account you can probably also withdraw cash in Egypt and deposit it in a new Dubai based account. However, it is important to understand that in the EU banks and authorities do AML checks. This means we need to prove your source of wealth and origin of the money for the investment. To gather this documentation, in a first step, you would need to be able to show where the money on your account in Egypt comes from. For example, salary, dividends, inheritance and so on. If you then take out cash the confirmation from this payout. Then the confirmation of the cash deposit into the new account. Banks and authorities are very often requesting bank account statements for one year, so the entire picture on source of wealth and origin of funds for the investment should be clear and make sense.