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Globe Capital Group > Residency > European Residence > Latvia

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Latvia

Latvia, located in Europe’s Schengen Area on the Baltic coast, is home to the capital city of Riga, which was founded in 1201 and is a UNESCO World Heritage Site. Nearly half of the country’s territory is covered by forests, providing numerous nature trails and parks. Latvia benefits from strong transport and cultural connections to both Western Europe and Russia.

  • Investment

    Minimum investment of EUR 60,000

  • Key benefit

    The right to live, work, and study in Latvia

Latvia Residence by Investment Program

The Latvia Residence by Investment Program, launched on 1 July 2010, is one of the fastest and most competitive in Europe. It was introduced by the Latvian government to help the country recover from the economic crisis of 2007–2009. By 2015, the program contributed over EUR 1.3 billion to the economy, with more than EUR 1.1 billion coming from foreign investors purchasing real estate.
Foreign nationals can qualify for a residence permit in Latvia by investing in one of three ways: contributing funds to the equity capital of a Latvian company, making a subordinated loan (deposit) in a Latvian bank, or purchasing interest-free government bonds designated for special purposes.

Benefits of Latvia residency by investment

Visa-free access to Europe’s Schengen Area

No minimum stay required for the permit renewal

Fast-track application procedure

Eligibility to apply for citizenship after 10 years

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.

Procedures 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.

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

Permanent residence permit and citizenship

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.

Frequently Asked Questions

Latvia Residence by Investment Program

This program enables non-EU nationals and their families to obtain Latvian residency by making qualifying investments in the country. Launched in July 2010, it aims to attract foreign capital and stimulate economic growth

Applicants can choose from several investment routes:

  • Investing at least EUR 50,000 into the equity capital of a Latvian company that pays a minimum of EUR 40,000 in annual taxes, along with a one-time state fee of EUR
  • 10,000.Purchasing real estate in Latvia valued at a minimum of EUR 250,000, plus a state fee equivalent to 5% of the property's value.

Additionally, applicants must demonstrate sufficient financial means to support themselves and their family without relying on Latvian social assistance.

Key benefits include:

  • The ability to live, work, and study in Latvia.

  • Travel without a visa across the Schengen Area.

  • No need to live in Latvia full-time to maintain the residency status.

  • A quick and efficient application process.

  • The opportunity to apply for citizenship after 10 years of continuous legal residence.

The starting point for investment is EUR 60,000, which includes the business investment and the associated government fee.

The review and approval process generally takes between 30 and 90 days after submitting the complete application.

Yes, the main applicant can include their spouse and dependent children under 18 years old.

There is no specific requirement to live in Latvia full-time. However, applicants must visit the country at least once a year to ensure that their investment remains valid.

Required documents typically include:

  • A valid passport

  • Proof of investment

  • A clean police record

  • Evidence of financial resources

  • Health insurance

Yes, it’s possible to apply for citizenship after 10 years of residence. Applicants must pass a basic language test and show knowledge of Latvian history and national symbols.

Applicants choose an investment option, gather the necessary documents, and go through background checks. Once approved, they must visit Latvia within three months to receive their temporary residence permit.