A residence permit in Latvia (Uzturēšanās atļauja in Latvian) is a document (ultimately, a physical residence card) that gives a foreigner the right to reside (live, work, study or do business) in the Republic of Latvia for a specific or specific time. for an indefinite period depending on the type of permit issued.
A residence permit makes your life much easier if you want to spend more than 90 days in Latvia, and also makes it easier for you to travel to other Schengen countries (members of the Schengen area), as it is done by anyone holding a residence permit in one Schengen country. do not require any additional visas or documents to visit another Schengen state for business or tourism. https://www.immigration-residency.eu/residence-permit-latvia/business-investment/