Latvia Residence by Investment
Since 2010, Latvia has been issuing temporary residence permits to foreign investors, allowing them to reside in Latvia and travel visa-free across the Schengen Area.
Benefits of Residence in Latvia
Successful applicants can receive a range of benefits, including:
- The right to live, work, study, and undertake business in Latvia
- Spouse and minor children may apply for a residence permit with the investor
- Residence valid for a five-year period
- Ability to apply for permanent residence after five years
- Ability to apply for citizenship after five years of holding permanent residence
There are a number of investment options available in Latvia:
Interest-Free Government Bonds
Investment Amount Donation to State Budget Hold Period €250,000 €38,000 Five years
Deposit in Latvian Bank
Investment Amount Donation to State Budget Hold Period €280,000 €25,000 Five years
Investment Amount Donation to State Budget Hold period Minimum €250,000 5% of property value Five years
Investment Amount Donation to State Budget Hold Period €50,000 in a small company €10,000 Five years €100,000 in a medium or large company €10,000 Five years
Note that, as shown above, in addition to the investment, a donation must be made to the state budget after approval.
The process of obtaining residence in Latvia is divided into stages. Investors do not immediately receive permanent residence and their residence status in Latvia remains temporary for five years after issuance of the initial residence permit.
- Step 1: Submit the residence application, along with any application fees, to the Office of Citizenship and Migration Affairs. As part of the application, the investor is required to commit to the investment.
- Step 2: After one to three months, a decision is made in relation to the application.
- Step 3: If the application is approved, the applicant must travel to Latvia within three months to give biometrics, make the investment, and pay the deposit.
- Step 4: After making the relevant investment, the applicant will receive a residence permit valid for five years.
- Step 5: After five years, and upon the fulfilment of certain requirements (including a language requirement), the investor may apply for a permanent residence permit.
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*Residency by investment programme requires a financial investment into the country.
Frequently Asked Questions
Who is eligible to apply?
Investors wishing to apply for residence by investment in Latvia must be foreign nationals; be over the age of 18; be of good character; be in good health; possess a valid health insurance policy; and have accommodation in Latvia.
Which family members can I include in my application?
The following family members are eligible to join the investor:
- Minor children
Is there a physical presence requirement?
There is no minimum physical presence requirement to maintain the five-year residence permit. However, persons wishing to apply for the permanent residence permit must demonstrate residence in Latvia for at least four of the five years.
How long does the application take to process?
Successful applicants can expect to receive an approval in one to three months from submission of the residence application.
What is the duration of the residence permit?
The residence permit is valid for five years. After five years, of which four must have been spent in in Latvia, an application for permanent residence can be made.
Are citizens from certain countries barred from applying?
Applicants must be foreign nationals.
Is this programme for me?
The following persons may be a good fit for the programme:
- Investors seeking to expand their asset base
- Individuals and nuclear families wanting to take up permanent residence in the EU
- Businesspersons and entrepreneurs seeking visa-free travel across the Schengen Area