Remigrants can apply for business support tender

To promote labor attraction to Latvia’s regions, the Ministry of Environmental Protection and Regional Development of the Republic of Latvia (VARAM), together with planning regions and municipalities, implements support measures for remigrants to create new jobs and establish new companies.

Last June, the government approved the informative report prepared by VARAM “On remigration support measure – business support,” which outlines solutions for implementing remigration support measures in 2024 and beyond, to foster entrepreneurship in the regions.

VARAM has allocated EUR 1.2 million in support to compatriots who have already returned to Latvia and want to start their businesses, or to local employers who are ready to create new jobs for remigrants.

The funding is intended for a three-year period, with 400,000 euros allocated each year for this purpose, distributed among the five regions of Latvia. Last year, planning regions selected municipalities to receive business support according to criteria developed by VARAM, and tenders have already been announced in most municipalities.

Tender regulations stipulate that remigrants who returned to Latvia no earlier than 2022 and have lived abroad permanently for at least two years can apply for support. The annual state support for the establishment of one workplace or company is 8,000 euros, while the amount of municipal and private co-financing is determined in the tender regulations. The support is intended only for remuneration and the purchase of fixed assets. 

Source: www.labsoflatvia.com
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