Latvia Golden Visa (Residence by Investment) – Complete Overview
What Is the Latvia Golden Visa?
The Latvia Golden Visa is a residence-by-investment program launched in 2010, allowing non-EU, non-EEA, and non-Swiss nationals to obtain a Temporary Residence Permit (TRP) by making a qualifying investment in Latvia. This visa grants residency rights in Latvia, and Schengen mobility, and can eventually lead to permanent residency or citizenship.
Investment Options
1. Business Investment – €50,000 or €100,000
- Invest in a Latvian company’s share capital.
- Companies must pay a certain amount of annual taxes to the Latvian state.
Investment Levels: Investment Amount €50,000 Tax Requirement (Annual) €40,000 Notes For small companies (max 50 employees & €10M turnover) €100,000
- €100,000 Plus government fee: €10,000 For larger companies with over 50 employees or turnover above €10M
- You can act as a board member or owner.
- Most common and approved pathway for clients targeting minimum investment.
2. Real Estate Investment – €250,000
- Purchase real estate property (house/apartment/commercial).
- Must be in urban areas (Riga, Jurmala, etc.).
- Property must be free of encumbrances.
- Pay 5% of property value as government fee.
3. Financial Institution Deposit – No longer popular
- Previously included €280,000 investment in subordinated bank capital (5 years).
- Became less common due to legal tightening.
Main Benefits
Temporary Residence Permit (TRP)
- Initially issued for 5 years, renewable annually.
- Valid for 1 year at a time.
- After 5 years, eligible for Permanent Residence.
- After 10 years, eligible for Citizenship (language + integration test required).
Schengen Zone Travel
- Travel visa-free to 26 Schengen countries (90/180-day rule).
- Ideal for business travelers or frequent European visitors.
Family Inclusion
● Includes:
○ Spouse
○ Dependent children
● Each family member gets their own residence permit.
Work & Business
- Investors can:
○ Start and operate businesses
○ Employ others
○ Access EU business markets
Healthcare & Education
- Once a resident, you gain access to:
○ Latvian healthcare system
○ Public schools and universities
No Stay Requirement
- No minimum stay required to retain the permit.
- Must visit Latvia at least once per year.
Required Documents
- Valid Passport
- Proof Of Clean Criminal Record
- Proof Of Investment (Business Registration, Real Estate Deed, Etc.)
- Health Insurance For Latvia
- Bank Statement Showing Investment Funds
- Medical Certificate (Hiv Negative)
- Proof Of Payment Of State Fees
Cost Summary – €100,000 Business Investment Option
Item Business Investment
> Estimated Cost (EUR) €100,000
> Government Contribution (One-time) €10,000
> Legal and Notary Fees (Optional) €2,000–€5,000
> Annual TRP Renewal Fee €300–€500
> Health Insurance Document €100–€300/year
> Translation/Legalization €500–€1,000
Application Timeline
Stage
Document Preparation
Submission & Processing
Residence permit issued
Duration
2–4 weeks
30–90 days (avg: 45 days)
In Latvia
Citizenship & Permanent Residency
Permanent Residency:
- After 5 years of holding TRP, provided:
○ You Maintain Investment
○ Reside in Latvia for at least 183 days per year (if aiming for PR)
○ Pass Latvian language and civics test
Citizenship:
- After 10 years of residence, Must show:
○ Latvian language proficiency (A2 level)
○ Knowledge of Constitution and history
○ Surrender of previous nationality (no dual citizenship for most)
Legal Framework & References
● Latvian Immigration Law (2010 Amendments): https://likumi.lv
● Office of Citizenship and Migration Affairs (OCMA): https://www.pmlp.gov.lv/en
● Investment and Development Agency of Latvia (LIAA): https://liaa.gov.lv
Who Is It Best For?
● Businesspeople and entrepreneurs looking to access EU markets.
● Families wanting Schengen mobility and EU education for children.
● Investors looking for a low-entry Golden Visa compared to Portugal or Greece.
● Remote business owners needing an EU base without relocating full-time.
Why Latvia Over Other EU Golden Visas?
Feature
Min. Investment
Schengen Access
Processing Time
Citizenship Path
Physical Stay
Latvia
€50,000–€250,000
✅
1–3 months
After 10 Years
Visit once/year
Portugal
€250,000–€500,000
✅
6 – 9 Months
After 5 Years
Min. 7 days/year
Greece
€250,000–€500,000
✅
4 – 6 Months
After 7 Years
No stay required