The Latvia Golden Visa is the EU’s most cost-effective residency by investment program. Foreign nationals can invest as little as €50,000 in exchange for residency with the huge incentive of acquiring visa-free access to the entire Schengen Area.
Situated on the Baltic Coast Latvia is a small Eastern European nation that is both part of the European Union and the Schengen Area. The country is known for its nature and beautiful forests and more recently the country has garnered attention for its impressive start-up ecosystem. Latvia’s Golden Visa stands out for its affordability, fast application process and minimal residency requirements, making it an attractive option compared to other European residency programs. The progressive European nation is not only attracting entrepreneurs to its shores but also families as one of the safest countries in Europe with high quality educational and healthcare systems.
Book A PresentationHistory of the Latvia Golden Visa Program
This unique residency by investment program is a little known gem that surprisingly has been around for many years yet seemingly gone under the radar to much of the world. The program was first launched back in 2010 in an attempt to combat the financial crisis of 2008.
Latvia’s Golden Visa Program is known for its affordability and fast processing time compared to other European Golden Visa programs. It offers significant benefits and is often considered an attractive alternative to similar programs in Greece and Portugal, especially when considering factors such as political stability, cost and residency requirements. The Latvian Golden Visa program has traditionally been popular with Russian and other ex-Soviet country nationals looking to secure residency in the EU. However, the program is currently closed to Russian and Belarussian nationals. The program has opened up to new markets recently and is growing in popularity in markets such as the US and India.
The Latvian Golden Visa in 2024
The European investment migration scene is changing significantly. Many popular programs in Western Europe are going through significant changes or being entirely phased out. Portugal no longer offers a real estate option, Greece has shifted its pricing, and Spain closes its Golden Visa.
Latvia is one of a handful of extremely attractive residency programs in Eastern Europe which we expect to continue to grow in popularity over the next few years given its low-cost appeal and strategic location. Read on to learn everything you need to know about the Latvia Golden Visa program.
Book A PresentationLatvia Residence Permit Real Estate Investment Option
For those interested in the Latvian real estate market, attractive investment opportunities are available in abundance. Latvia’s rental yields are some of the highest in Europe, with an average gross rental yield of 8% per annum. The real estate investment option is one of the pathways to obtain a temporary residence permit in Latvia.
The requirements for the Latvia residence permit real estate golden visa option are a minimum investment of €250,000 into residential or commercial property in Latvia that qualifies under the following rules:
- The investment can be made into one or two properties.
- If the property is located in Riga or Jurmala, the investor can purchase only one property.
- The seller must be a legal person registered in Latvia.
- There is a 5% state tax on the real estate purchase.
- The investment must be held for a minimum of 5 years.
Latvia Golden Visa Program Investment Options from €50,000
This unique investment program offers investors several pathways to pursue residencywhich are tailored according to their financial capabilities and personal interests. Investment
options include the following:
Latvia Business Investment Option
For those with a business-oriented mindset and those looking to invest, the Latvia Investor Visa through the business investment option is highly attractive. It is by far the most economical investment option and the lowest investment threshold of any EU Golden Visa program.
To qualify foreign nationals are required to invest a minimum of €50,000 into an established company’s share capital. Investors must take into account other fees most notably the government processing and legal fees.
Investors must note that is not as simple as just investing in any company in Latvia and applying for residency. There are several requirements that the company itself must meet in order to be deemed an eligible investment under the Latvia Residency Program.
Investors must take into account the following:
- The company in which you invest must pay at least €50,000 in annual corporation taxes.
- The companies should have less than 50 employees.
- The company’s yearly turnover should be less than €10,000,000.
Find out more2% Annual Returns and Guaranteed BuybackMetal Construction Company €50,000 Investment
Investors can qualify for the Latvia Golden Visa program with €50,000 investment into this 15 year old established metal construction business. A 2% yield per annum and a buyback after 10 years are on offer.Book A Presentation
Find out moreGuaranteed Buyback and 2% Annual ReturnsPremium Car Dealerships Ownership from €50,000
A Latvian luxury car dealership specialising in premium-class vehicles with over a decade of experience. The company has forged a solid reputation for delivering exceptional service and offering only the highest quality vehicles to its discerning clientele. Book A Presentation
Find out moreGuaranteed Buyback and 2% Annuao ReturnsLatvian Fish Factory Investment
As a forward thinking company poised for substantial growth in the booming global fish market, the Latvia Fish Factory invites investors to participate in its success story. All the while enjoying the added advantages of a secure investment pathway and long-term financial stability.Book A PresentationLatvia Golden VisaLatvia Golden Visa Benefits
Visa free travel to the Schengen AreaResidents of Latvia can travel freely across 29 countries within the Schengen Area.Most affordable Golden Visa in EuropeLatvia's Golden Visa program has many different investment options, the most affordable of which requires an investment of just €50,000.Minimal physical residency requirementsResidents of Latvia are not required to live in the country. However, they must visit once per year to renew their permits. Pathway to PR & citizenship in an EU countryInvestors and their families who live in Latvia and learn the language, can apply for permanent residency after 5 years and citizenship after 10 years.The world's most affordable second passport by investmentThe Vanuatu passport by investment is the world's most affordable second citizenship program.The entire family can be included in your applicationInvestors can include their dependent family members on their residency applications.Access to high quality healthcareResidents of Latvia can benefit from the use of high-quality European healthcare standards.Access to high quality educationInvestors can send their children to high quality schools and universities in Latvia.Europe's highest rental yieldsInvestors who purchase real estate can enjoy some of Europe's highest rental yields.Diversify your investment portfolioInvestors in the program have the chance to diversify their investment portfolios, whether they decide to purchase real estate, invest in government bonds or invest into a local company in Latvia.Access to the EU banking systemsResidents of Latvia can access banking services throughout the European Union.Latvia is a start-up friendly country suitable for entrepreneurslLatvia is a fantastic place for entrepreneurs and has one of Europe's best start-up ecosystems.Request A Callback
Latvia Residence Permit Real Estate Investment Option
For those interested in the Latvia real estate market attractive investment opportunities are available in abundance. Latvia’s rental yields are some of the highest in Europe with an average gross rental yield of 8% per annum.
Investors must pay a minimum investment of €250,000 into residential or commercial property in Latvia.
Book A ConsultationLatvia Government Bond Investment Option
Many investors appreciate this secure and low risk option for the Latvia Golden Visa via an investment in Government Bonds. The requirements are as follows:
- Invest a minimum of €250,000 into non-interest bearing government bonds
- Pay a €38,000 state fee to the Latvian government
Buying this type of bond supports Latvia’s economic growth while affording safe returns for
investors, seeking stable investments. Rather than income yields through interest rates paid in
savings accounts or other forms of debt instruments like certificates of deposit (CD).
Latvia Bank Deposit Investment Option
Latvia is home to many reputable international and European banks. For those who prioritize security and predictability when investing, the Latvia Golden Visa bank deposit option is a viable choice.
The requirements are as follows:
- Deposit a minimum of €250,000 into a Latvian bank for a minimum of 5 years
- Pay a state fee of €25,000 to the Latvian government
Not sure how this fits your strategy?
A focused consultation to assess your objectives and shortlist the right options.
Latvia Golden Visa Requirements
Key Latvia Residency Requirements
To be eligible for Latvian residency, the main applicant must meet the following requirements:
- Be at least 18 years old
- Have comprehensive health insurance
- Hold a clean criminal record
- Be a non-EU / EEA foreign national
Applicants must also be able to prove that economic means to sustain their family’s stay in Latvia without social assistance from the state.
The minimum annual income requirements are as follows:
- €15,480 for a single main applicant
- €20,640 for the main applicant and their spouse
- €22,188 for a married couple with one child
Dependency rules – Who can apply as a dependent?
- Spouse
- Dependent children below 18 years of age
Latvia Golden Visa Documents
In order to apply for residency by investment in Latvia, the following documents are required:
- Valid passport
- KYC/AML forms
- CV
- Documents proving the source of income
- Clean criminal record (police clearance certificate) apostilled
- Bank statement as proof of economic solvency. A minimum bank balance of 8400 EUR required for the main applicant plus 4200 EUR for the spouse and 2520 EUR per dependent child.
- Apostilled marriage certificate (spouse only)
- Birth certificate (dependent children only). For all children 14 years or older apostilled police clearances must be submitted.
The Application Process: How to get residency in Latvia?
Latvia’s Residency By Investment Program is one of Europe’s quickest and most straightforward residency by investment programs. The process takes between 2-6 months, depending on the volume of applications.
- Book a free consultation with Lincoln Global Partners
Our consultants will present to you the Latvia Golden Visa Program, answer your questions and share with you a range of investment options for you to consider.
- Choose your investment
At this stage, you will need to decide on your investment, whether that be an investment into an existing Latvian company, real estate, government bonds or simply a local bank deposit. Our lawyers will handle the due diligence and once given the green light, you can proceed to make your golden visa investment.
- Documentation & application submission
We will assist you in gathering your personal and investment documentation and book your appointment at your local consulate or embassy. Investors are then required to submit their application in person.
- Processing
The application processing time ranges between 2 – 6 months for investors. During this time, your documents will be analysed and due diligence conducted by the Latvian authorities.
- Approval and collection
We will notify you of the decision regarding your residency application in Latvia. Once approved, you will be invited to Latvia to submit your biometrics and collect your residency permit.
Latvia Permanent Residence & Citizenship Pathways
Latvia Permanent Residence – How to get PR in Latvia?
While the Latvia Golden Visa program is a temporary residency permit, the program offers a pathway to both permanent residency and citizenship for those who live in the country.
Investors and their families who relocate to Latvia can apply for permanent status after 5 years of residency. However, to be eligible for PR applicants must have spent at least four of the last 5 years physically residing in Latvia. Applicants are also required to speak an A2 level of Latvian.
Latvia Citizenship – How to get citizenship in Latvia?
Those who acquire Permanent Residency in Latvia can take things one step further and apply for Latvian citizenship after another 5 years of living in Latvia. Latvian citizenship can be obtained through various pathways, including by birth, descent and naturalisation. Applicants must prove that they have a general knowledge of both the history of Latvia as well as knowing the national anthem. Dual citizenship is prohibited in most cases, so the former citizenship would need to be renounced. Benefits of obtaining Latvian citizenship include eligibility for a Latvian passport and access to the EU and Schengen Area.
GLOBAL MIGRATION SOLUTIONSInterested in a free consultation with one of our specialist residency & citizenship by investment advisors?
Contact Us HereLive in Latvia: A Taste of Latvia
In the heart of Latvia, where the Daugava River meanders through the lush, green landscape, life unfolds in a sweet spot between tradition and modernity.
The streets of Riga, Latvia’s storied capital, are lined with cobblestones whispering tales of the past. Art Nouveau buildings stand like sentinels of beauty, facades adorned with intricate details catching the morning light, casting shadows dancing on the pavements. Cafés spill onto sidewalks, mosaic tables filled with locals and visitors, swapping stories over cups of coffee. The air carries the melody of Latvian folk music, blending with the distant laughter of children playing in a nearby park, where ancient oaks stand tall as guardians of the city in serene beauty.
The countryside offers a retreat into Latvia’s wild heart. Fields of golden barley sway gently in the breeze, stretching to the horizon where they meet the deep blue of a summer sky. Traditional wooden homes, painted in hues of blue, red, and white, dot the landscape. A riot of colour from wildflowers and meticulously tended vegetable gardens scatter the lands.
The Baltic Sea whispers to the shore, echoing a soft lullaby of waves for the quaint fishing villages nestled along the coast. In the evenings, the air fills with the scent of woodsmoke and the amber glow of bonfires. A commonplace for families and friends to gather around and to share tales, enjoying the simple pleasure of each other’s company. Life in Latvia is centered around the spirit of community and the embrace of nature.
Apply for Latvia Residency By Investment with Lincoln Global Partners
Lincoln Global Partners, an international investment migration firm is ready to assist you every step of the way with your Latvia Golden Visa application.
FAQ's Latvia Golden Visa Frequently asked Questions
Does Latvia allow dual citizenship?There are many circumstances where Latvia accepts dual citizenship. However, adults who become citizens of Latvia will be expected to renounce their previous citizenship.
Are any nationalities restricted from applying for residency in Latvia via the Golden Visa program?Yes, Russian and Belarussian nationals are currently prohibited from applying for the residency program.
When can I sell my Latvia Golden Visa investment? Investors must maintain their investment if they wish to live in Latvia under this residency permit. Those living in Latvia can sell their investments once they acquire permanent residency. Does the Latvia Golden Visa impose a minimum stay requirement to maintain residency?Golden Visa investors and their families are required to visit Latvia once per year to renew their residency permits. However, they are not required to live in the country full time to maintain residency.
