Latvia

Citizenship by Investment Overview

Investment

Minimum investment of EUR 60,000

Key Benefit

The right to live, work, and study in Latvia

An Overview of Latvia Residence by Investment

The Latvia Residence by Investment Program, or Latvia golden visa, is one of the fastest and most competitive programs in Europe. The program was launched on 1 July 2010 by the Latvian government as an initiative to sustainably overcome the economic crisis of 2007–2009. Five years after the program’s launch, Latvia’s economy received more than EUR 1.3 billion, of which more than EUR 1.1 billion was generated from the purchase of real estate by foreign investors.

According to the qualification requirements, foreign nationals may apply for a residence permit in Latvia by committing funds into the equity capital of a Latvian company, making a subordinated loan (deposit) in one of the Latvian banks, or through the purchase of interest-free government bonds determined for special purpose.

Benefits of the Latvia Residence by Investment Program

Visa-free access to Europe’s Schengen Area
No minimum stay required to be eligible for the residence permit renewal
Fast-track application procedure
Russian widely spoken
Excellent transport links with Russia and other EU member states
Eligibility to apply for citizenship after 10 years of legal residence

Requirements of Latvia Residence by Investment

To obtain a residence permit through the Latvia Residence by Investment Program, applicants are required to fulfill the following requirements:

Commit EUR 50,000 into the equity capital of a Latvian company (provided that the company annually pays at least EUR 40,000 in taxes)
Make a one-time payment of EUR 10,000 to the state budget

In addition, applicants should demonstrate the availability of funds to maintain their family’s standard of living without having to seek social assistance from the Latvian government:

EUR 15,480 per year for a single main applicant
EUR 20,640 per year for a main applicant and spouse
EUR 22,188 per year for a married couple with one child

Alternatively, applicants can acquire real estate property in Latvia to the value of at least EUR 250,000 and pay a state fee equivalent to 5% of the real estate price.

Procedure for the Latvia Residence by Investment Program

The members of the applicant’s family, such as spouse and children under 18, may apply for a residence permit together with the applicant. Upon approval at the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor should visit Latvia in person within three months to collect their temporary residence permit in the form of an ID card. The residence permit is valid for five years with the requirement of annual renewal of the ID card.

Residence Requirement of Latvia Residence by Investment

There is no minimum number of days of physical presence in Latvia required in order to renew the residence permit.

Citizenship in Latvia

After five years of receiving the residence permit, the applicant may apply for a permanent residence permit. To qualify for a permanent residence permit, the candidate must have resided in the country for four years out of the five-year period and should have successfully passed the basic Latvian language test at Level A2. The applicant must also have a proven knowledge of the general history of Latvia and the national anthem. Applicants must renounce their former citizenship in order to be granted Latvian citizenship, although exceptions may apply.

Latvia Residence by Investment Program frequently asked questions

What is the Latvia Residence by Investment Program?

The Latvia Residence by Investment Program offers residence to individuals and their families through substantial investments in the country.
What are the investment options available for the Latvia Residence by Investment Program?

Investment options include either investing in the equity capital of a Latvian company and making a one-time payment to the state budget or acquiring real estate property in Latvia and paying a state fee. Additionally, applicants must demonstrate sufficient funds to maintain their standard of living without government assistance.
What are the benefits of obtaining Latvian residence through investment?

Benefits include the right to live, work, and study in Latvia, visa-free travel within Europe’s Schengen Area, and quick and effective application procedure.
What is the minimum investment required for the Latvia Residence by Investment Program?

The minimum investment starts at EUR 60,000 to the equity capital of a Latvian company and a one-time payment to the state budget.
How long does it take to process an application for the Latvia Residence by Investment Program?

Processing times for residence by investment applications may vary. Please contact us to find out more.
Can family members be included in the Latvia Residence by Investment application?

Yes, the main applicant can include their spouse and dependent children under 18 years old.
What are the residence requirements for the Latvia Residence by Investment Program?

There are no specific residence or physical presence requirements, but applicants must visit Latvia annually and confirm that they still hold their investments in the country.
What documents are required for the Latvia Residence by Investment application?

Required documents include a valid passport, proof of investment or contribution, a clean criminal record, and other supporting documents.
Is it possible to obtain Latvian citizenship through the Residence by Investment Program?

Yes, after maintaining residence for ten years, investors may be eligible to apply for Latvian citizenship.
What is the process for applying to the Latvia Residence by Investment Program?

Applicants must choose a qualifying investment, submit the application with the necessary documents, and undergo a due diligence process. Upon approval, the investor must visit Latvia within three months to collect their temporary residence permit ID card.

Country Information

Latvia, one of the countries that form part of Europe’s Schengen Area, is situated on the Baltic Coast.

Population:	1.8 million
Languages:	Latvian, Russian, and Belarusian, among others
Economy:	Small and open, with highly developed transit services
Currency:	Euro

Live in Latvia

Latvia is situated in Northern Europe on the Baltic Sea. Known for its rich heritage, incredible local cuisine, and stunning mix of art nouveau and medieval architecture, Latvia attracts visitors from all over the globe. The official language is Latvian, but Russian is also widely spoken by most of the population.

Riga is the cosmopolitan capital and largest city of Latvia. Moreover, it is the political, economic, and cultural center of this small but proud country. Today, more than a third of the country’s population lives and works in Riga. Latvia has been a member of the UN since 1991 and a member of the EU and NATO since 2004. In 2007, Latvia joined Europe’s Schengen Area, which brought significant benefits to the country’s citizens and residents.

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