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Residence-by- Investment in Latvia

LEGAL NEWS • January 7, 2021

Foreign nationals may apply for residence permit in Latvia through various options. One of the options is Residence-by -Investment Program discussed in this article. Latvian Residence-by-Investment Program is one of the fastest, cheapest and competitive programs in Europe. The Program requires real estate investment, or the investment could be made by making a subordinated loan (deposit) in one of the Latvian banks, through the purchase of interest-free government bonds determined for special purpose, or invest in the equity capital of a Latvian company.

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How to Get D Type Visa in Latvia

LEGAL NEWS • January 7, 2021

A visa is a certain sample sticker in a travel document, but it does not in itself give the right to enter the Republic of Latvia. On December 21, 2007, Latvia joined the Schengen Agreement and became a full member of the Schengen Agreement. Consequently, with a Schengen visa issued by Latvia, it is also possible to travel to other member states of the Schengen Agreement. A foreigner who needs to stay in Latvia more than 90 days in a half-year period depending on the circumstances should apply for a long-stay visa (or a residence permit).

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Covid-19 as force majeure clause in contract

LEGAL NEWS • January 6, 2021

Since the beginning of the Covid-19 pandemic, discussions have been held very extensively in Latvia and the European Union on compliance with contractual obligations and deadlines during an emergency situation. The concept of force majeure has been mentioned several times in the Latvian Civil Code, but it can still be considered a general clause, because the concept is still not given a sufficiently clear explanarion. The main condition is that force majeure should be recognised as a circumstance serving as an exempt of claims for damages and of the fulfilment of certain obligations. An exception is permissible in cases where a party to the contract has on his own will assumed a responsibility for such a risk.

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How to Avoid Contract Disputes

LEGAL NEWS • January 6, 2021

A contract dispute is a disagreement between two or more of the parties involved in a legally binding contractual agreement. When a contract has been negotiated, set up, and agreed upon, but one of the parties doesn't meet all of the terms and conditions of the contract, that party could be in breach of contract. It's essential to realize that when you commit yourself to a legally binding contract, all your responsibilities and obligations must be completed in accordance with the written contract. To avoid contract disputes it is important for both parties to consult legal professionals, understand the terms of the contract before finalizing it and analyse whether you can complete all your obligations and responsibilities in accordance with the contract.

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Data transfers under the GDPR to the United Kingdom after Brexit

LEGAL NEWS • January 4, 2021

As of 1 January 2021, the UK will no longer apply the General Data Protection Regulation to the processing of personal data, therefore a separate legal framework regarding data protection will be in force in the UK. If your company operates in the EU and transfers personal data to the UK, as well as the same apples to all transfers of personal data between stakeholders subject to GDPR, that kind of transfer of personal data will constitute a transfer of personal data to a third country and therefore will be subject to the provisions of Chapter 5 of the GDPR.

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AML Policy Preparation for Companies in EU

LEGAL NEWS • January 3, 2021

EU LAW FIRM offers legal assistance in AML matters for companies to ensure the compliance with the requirements of the AML law. EU LAW FIRM offers your company variety of legal services speficially tailored for the internal control system of the company, to ensure the highest level of compliance with the AML legal framework.