Latvia

Latvia Golden Visa Overview

The Latvian Golden Visa is open to non-EU nationals who invest at least €50,000 (approx. US$58,500) in Latvia, who then qualify for a five-year temporary residence permit. The program offers four investment routes, making it one of the most flexible and affordable pathways to EU residency in Europe.

The permit is valid for five years with no minimum stay requirement to maintain status. Holders may renew permits indefinitely provided the qualifying investment remains active. 

The main applicant can include a spouse and children under 18. Financially dependent parents may also be included. Family members receive residence permits tied to the same validity period as the main applicant.

Eligibility Requirements

Applicants must be non-EU, non-EEA, and non-Swiss nationals with a clean criminal record. All routes require proof of sufficient financial means and valid health insurance for the full permit period. 

4 investment routes are available: 

Business Investment

• Investment of €50,000 (approx. US$58,500) into the equity capital of a Latvian company with fewer than 50 employees and annual turnover below €10 million, plus a one-time state budget contribution of €10,000 (approx. US$11,700)
• Alternatively, €100,000 (approx. US$117,000) into the equity capital of a larger Latvian company, with the same €10,000 state contribution
• The company must pay a minimum of €40,000 in taxes annually and the investment must be maintained for at least five years

Real Estate

• Purchase of qualifying residential or commercial property in Latvia with a minimum value of €250,000 (approx. US$292,500), plus a one-time state fee of 5% of the property value
• Property must be already constructed; off-plan or under-construction properties do not qualify
• Single property purchases must be located in Riga or within 30 kilometres of the city; alternatively, two properties may be acquired outside these areas, each with a minimum cadastral value of €40,000
• Agricultural and forest land does not qualify
• Property must be held for at least five years

Government Bonds

• Purchase of €250,000 (approx. US$292,500) in interest-free Latvian government bonds designated for special purposes, held for five years

Bank Deposit

• Subordinated deposit of €280,000 (approx. US$327,600) held in a Latvian bank for a minimum of five years, with a state fee of €25,000 (approx. US$29,250)
• Returns of up to 3% per annum may apply depending on the bank’s terms

Route to Citizenship

After five years of holding a temporary residence permit, applicants may apply for permanent residency, provided they have spent at least 183 days per year in Latvia for four out of those five years, paid taxes in Latvia during that period, maintained their qualifying investment, and passed a basic Latvian language test at Level A2.

After ten years of continuous legal residency, holders may apply for Latvian citizenship by naturalization. Requirements include spending at least 183 days per year in Latvia throughout the ten-year period, passing Latvian language and civic knowledge tests, demonstrating knowledge of Latvia’s constitution, national anthem, and history, and maintaining a clean criminal record.

Latvia permits dual nationality. Applicants are not required to renounce their prior citizenship upon naturalization. 

Mobility and Taxation

Mobility

The Latvia temporary residence permit grants holders the right to live, work, and study in Latvia, and to travel visa-free across all 29 Schengen Area countries for stays of up to 90 days within any 180-day period. 

Upon naturalization, Latvian citizens gain access to approximately 189 destinations visa-free or visa-on-arrival, including the United States, the United Kingdom, Canada, and Australia, as well as full EU free movement rights across all EU and EEA member states. 

Taxation

Latvia operates a favorable tax environment for investors. Personal income tax applies at 20% on income up to approximately €105,300 per year, with higher rates above that threshold. 

Dividends and capital gains on which corporate income tax has already been paid are generally not subject to additional personal income tax, eliminating double taxation on investment returns within Latvia. 

Permit holders who do not establish Latvian tax residency, by spending fewer than 183 days per year in Latvia, are generally not subject to Latvian tax on income earned outside the country. Latvia maintains double taxation treaties with numerous countries. 

How to Apply

The program is administered by the Office of Citizenship and Migration Affairs of the Republic of Latvia (OCMA), under Section 23, Paragraph 1, Clause 28 of Latvia’s Immigration Law. 

The process typically runs as follows.

• Step 1: Complete the qualifying investment and obtain official confirmation of its completion.
• Step 2: Submit the application at a Latvian embassy or consulate in the applicant’s country of residence, or directly at an OCMA territorial office in Latvia. Applicants with a valid Schengen visa or a passport allowing visa-free EU entry may find it more practical to apply from within Latvia.
• Step 3: OCMA reviews the application package and issues a decision. Foreign documents must be translated into Latvian and notarized as required. Processing typically takes one to three months.
• Step 4: Travel to Latvia within three months of a positive decision to attend a biometrics appointment at OCMA, after which the residence card is issued.
• Step 5: Visit Latvia once per year to renew the physical residence card and confirm the qualifying investment remains active.