RIGA — The Latvian parliament voted last week toughen the requirements of a controversial immigration bill, doubling the required taxes for an investor to qualify for a residency permit via investments in Latvia.

Originally the law stipulated that foreigners who invest at least 25,000 lats (€35,700) in a company, create five jobs and pay at least 10,000 lats (€14,100) in tax during a financial year can apply for residency permits, which allow foreigners to live, work and claim some benefits in the country. Now the Saeima has voted to double the required taxes to 20,000 lats.

Though the law is expected to bring in 5 million lats to the cash-strapped country and create 2,500 new jobs, it was criticized in parliament because it means that members of organized crime gangs from the east could find an easy way into the country and that it could further the Russification of Latvia.

The new law takes effect on July 1.

— Baltic Reports reporters James Dahl and Adam Mullett contributed to this article.