Latvia Golden Visa: Residency by Investment Guide

The Latvia Golden Visa, officially dubbed Latvia Investor Visa, is a residency by investment program that grants residency to foreign investors who meet a set financial criteria.

This golden visa requires a minimum qualifying investment, typically in real estate, business capital, or government bonds.

This article will cover the following:

• Who qualifies for the Latvia Golden Visa?
• How much is the investment visa for Latvia?
• How can I invest in Latvia and get residency through the Latvia golden Visa program?
• What are the benefits of a Latvia Golden Visa?

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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.

What is the investment visa in Latvia?

The Latvia Investor Visa is a residency-by-investment program granting non-EU nationals a temporary residence permit in exchange for economic investment in Latvia.

Unlike cash-for-passport programs, it’s a route to eventual permanent residency and potentially citizenship through standard naturalization procedures.

What is the minimum investment for Latvia Golden Visa?

Investment thresholds for the investor visa vary by category:

• Business Investment:
  • Invest €50,000 in a Latvian company with fewer than 50 employees and annual turnover below €10 million.
  • Or €100,000 for companies with over 50 employees and over €10 million in turnover.
  • A one-time state contribution of €10,000 is required, and the company must pay a minimum of €40,000 in annual taxes.
• Real Estate Investment:
  • Purchase property for at least €250,000.
  • Pay approximately 5% in state fees, plus stamp duty (typically 2% of the purchase price).
  • The property’s cadastral value must be at least €80,000, and it must be registered in Latvia. Property can be in Riga or Jūrmala—one property only—or split across two properties elsewhere, each with at least €40,000 cadastral value.
• Bank Deposit Option:
  • Deposit €280,000 in a Latvian financial institution for five years.
  • A state fee of €25,000 applies.
• Government Bonds:
  • Invest €250,000 in Latvian government bonds, held for five years.
  • This requires an additional €38,000 state fee.

Who is eligible for Latvia Golden Visa?

To be eligible, applicants must meet specific legal, financial, and personal criteria set by the Latvian government.

These include:

• Age Requirement – Applicants must be at least 18 years old at the time of application.
• Clean Background – A clean criminal record is mandatory, and applicants must not have any pending tax debts or financial liabilities in Latvia or their home country.
• Proof of Financial Stability – Sufficient funds must be demonstrated to cover living expenses in Latvia without reliance on local welfare systems.
• Valid Health Insurance – Comprehensive health insurance valid in Latvia is required for the duration of residency.
• Lawful Source of Investment – Funds used for the qualifying investment (real estate, business, or financial instruments) must come from a legal source and be properly documented.

Latvia Golden Visa requirements

Additional requirements include:

• Health insurance valid for at least one year.
• A legitimate source of funds and financial stability.
• Passing due diligence checks conducted by Latvian authorities.

How much is Latvia Golden Visa?

The total cost of obtaining a Latvia Golden Visa starts at approximately €260,000, depending on the investment route chosen.

This includes the required investment amount (ranging from €250,000 to €280,000 for real estate, bank deposits, or bonds, or €50,000 for business investment) plus additional fees.

Applicants must also budget for a €10,000 government fee, 5% stamp duty for real estate purchases, legal expenses, and administrative processing fees.

Latvia Golden Visa Processing Time

The processing time for a Latvia Golden Visa typically ranges from 1 to 3 months, depending on the investment route and completeness of the application.

Applications involving real estate or business investments may take slightly longer due to additional due diligence requirements.

Applicants should ensure all documentation is accurate and submitted correctly to avoid delays.

What are the benefits of Latvia Golden Visa?

The Latvia Golden Visa balances mobility, family inclusion, and financial advantages, making it an attractive option for international investors looking to establish a base in Europe.

Its benefits include:

• Schengen Travel: Holders enjoy visa-free access to 29 Schengen countries, making business, travel, and leisure across Europe seamless.
• Minimal Physical Presence: Renewal of the residence permit requires only about 48 hours of stay per year, providing flexibility for international investors.
• Family Inclusion: Applicants can bring their spouse and dependent children, allowing the whole family to benefit from residency, education, and healthcare opportunities in Latvia.
• Attractive Tax Treatment: Latvia’s progressive personal income tax and 20% corporate tax, with exemptions on certain dividends, make it financially advantageous for investors.
• Pathway to Citizenship: After several years of continuous residence (usually five), Golden Visa holders may be eligible to apply for Latvian citizenship, depending on compliance with residency and language requirements.
• Property Ownership Rights: Those investing in real estate gain the right to buy, sell, and lease property in Latvia, adding flexibility and potential for returns on investment.

What are the disadvantages of a Golden Visa in Latvia?

• Annual Renewal Requirements: Holders must spend at least one day in Latvia each year to maintain and renew their residence permit, which may be inconvenient for investors with multiple international commitments.
• Political and Legal Uncertainty: Latvia’s Golden Visa program is under review due to EU-wide scrutiny over investment-based residency schemes. Future regulatory changes or abolition of the program could affect current and prospective investors.
• Limited Immediate EU Mobility: While the visa allows travel within the Schengen Area, it does not grant visa-free access to non-Schengen countries such as the UK or Ireland, limiting some international mobility.
• Long-Term Citizenship Pathway: The Golden Visa does not provide an immediate path to Latvian citizenship; applicants must maintain residence and meet strict requirements over several years to qualify.

Does Latvia have a strong passport?

The Latvian passport ranks 6th globally, offering visa-free or visa-on-arrival access to 171 countries, including the Schengen area, the US, and Canada.

How can I buy property in Latvia and get residency?

To obtain residency through real estate:

1. Purchase a property worth at least €250,000 (plus fees).
2. Submit the investment proof to the immigration authorities.
3. Once approved, spend a minimal time in Latvia annually to maintain residency.

Latvia Golden Visa vs Other EU Golden Visas

Latvia’s Golden Visa program is generally more affordable than programs in Portugal or Greece, where minimum investments often start at €250,000–€500,000.

However, Latvia requires annual physical presence, whereas some other EU programs offer more flexible residency obligations.

The Latvian program also provides quick Schengen access but limited immediate mobility outside Schengen, unlike countries such as Malta, which may offer broader EU rights.

Here’s a side-by-side comparison:

Country	Minimum Investment	Residency Requirement	EU Mobility	Path to Citizenship
Latvia	€50,000 (business) / €250,000 (real estate)	Annual physical presence required	Schengen Area only	Indirect pathway after 5 years
Portugal	€250,000 (donation) / €500,000 (funds)	7 days in the first year, 14 days in subsequent years	Schengen Area	Eligible after 5 years
Greece	€250,000 (real estate)	No minimum stay required	Schengen Area	Eligible after 7 years
Malta	€600,000 (36 months residency) / €750,000 (12 months residency)	12–36 months residency	Schengen Area	Citizenship by investment

Is Latvian Golden Visa worth it?

For investors seeking affordable EU residency with minimal presence, it can be valuable.

But the potential termination of the program and the need for active renewal warrant careful consideration.

Conclusion

The Latvia Golden Visa offers an affordable and flexible route to EU residency, providing Schengen mobility, family inclusion, and investment opportunities.

While the program is attractive for investors, annual presence requirements, potential legislative changes, and the gradual path to citizenship should be carefully considered before applying.

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