Latvia Golden Visa
Latvia, a Baltic nation within Europe’s Schengen Area, is known for its vast natural beauty, with nearly half of its land covered in dense forests, scenic trails, and expansive parks. The country enjoys excellent connectivity with both Western Europe and Russia, offering strong transport and cultural links. Its capital, Riga, was established in 1201 and is recognized as a UNESCO World Heritage Site due to its well-preserved architecture and historical significance.
Key Advantages
Seamless visa-free travel across Europe’s Schengen Area
Fast-track application process for obtaining residency
No minimum stay required to renew the residence permit
Possibility to apply for Latvian citizenship after 10 years of legal residence
Strong transport connectivity with Russia and other European Union nations
Widespread use of the Russian language within the country
Requirements
To qualify for a residence permit through the Latvia Residence by Investment Program, applicants must meet one of the following investment criteria:
- Purchase real estate in Latvia valued at a minimum of EUR 250,000 and pay a state fee equivalent to 5% of the property price
• Invest EUR 50,000 in the equity capital of a Latvian company, provided that the company pays at least EUR 40,000 in taxes annually
• Make a one-time contribution of EUR 10,000 to the state budget
Additionally, applicants must demonstrate sufficient financial means to support their family’s living expenses without relying on state assistance:
• EUR 15,480 per year for a single applicant
• EUR 20,640 per year for a main applicant and spouse
• EUR 22,188 per year for a couple with one child- Purchase real estate in Latvia valued at a minimum of EUR 250,000 and pay a state fee equivalent to 5% of the property price
Procedure
- The main applicant’s spouse and children under 18 can apply for a residence permit along with them
- Once approved by the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor must visit Latvia in person within three months to collect their temporary residence permit (ID card)
- The residence permit is issued for five years, with an annual renewal requirement for the ID card
Residency Obligation for Latvia’s Investment-Based Residence Permit
- No mandatory period of stay in Latvia is necessary for the renewal of the residence permit.
Permanent Residence and Citizenship Process
Upon maintaining a residence permit for a period of five years, individuals may become eligible to apply for permanent residency in Latvia. Eligibility requires continuous residence in the country for at least four of those five years, in addition to successfully passing the Latvian language proficiency examination at a minimum of A2 level. Furthermore, applicants are expected to exhibit an understanding of Latvian history and demonstrate familiarity with the national anthem.
For those seeking Latvian citizenship, the renunciation of prior citizenship is generally required; however, exemptions may be granted under specific circumstances.
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