Latvia
Located on the Baltic coast within Europe’s Schengen Area, Latvia offers a unique blend of natural beauty and historical charm. Its capital, Riga, founded in 1201 and recognized as a UNESCO World Heritage Site, is renowned for its cultural and architectural significance. Nearly half of Latvia’s territory is covered in forests, providing ample opportunities for outdoor recreation. The country also boasts excellent transportation and cultural connections with Western Europe and Russia.
Investment Requirements
Minimum investment: EUR 60,000
Residence
Country information
Population: 1'871,882 hab aprox.
Capital: Riga
Official Language: Latvian
Income percapita: $40,891 USD
Key Benefits
Advantage: The right to live, work, and study in Latvia
Latvia Residence by Investment Program: A Gateway to Europe
Latvia Residence by Investment Program: A Gateway to Europe
Launched on 1 July 2010, the Latvia Residence by Investment Program is among Europe’s fastest and most competitive. Established to support economic recovery after the 2007–2009 financial crisis, the program attracted over EUR 1.3 billion in its first five years, with over EUR 1.1 billion generated through foreign real estate investments (now suspended since January 2022).
Available Investment Options
Foreign nationals can qualify for Latvian residency by:
Equity Investment: Investing at least EUR 50,000 into the equity capital of a Latvian company, provided the company pays at least EUR 40,000 in annual taxes.
State Budget Contribution: Making a one-time payment of EUR 10,000 to the Latvian state budget.
Government Bonds: Acquiring special-purpose, interest-free government bonds.
Applicants must also demonstrate sufficient funds to maintain their standard of living:
Single applicant: EUR 15,480 annually
Applicant and spouse: EUR 20,640 annually
Applicant, spouse, and one child: EUR 22,188 annually
Benefits of the Latvia Residence by Investment Program
Visa-free travel within Europe’s Schengen Area
No minimum stay required for residence permit renewal
Fast application processing
Widespread use of Russian for communication
Convenient transport links to Russia and EU member states
Eligibility for citizenship after 10 years of residence
Program Requirements and Procedures
Family Inclusion: Spouses and children under 18 can be included in the application.
Approval Process: Upon approval by the Office of Citizenship and Migration Affairs, the applicant must visit Latvia within three months to collect a temporary residence permit (ID card). The residence permit is valid for five years, with annual renewal of the ID card required.
Residence, Permanent Residence, and Citizenship
Residence Renewal: No minimum physical presence is required for permit renewal, though annual confirmation of investments is necessary.
Permanent Residence: After five years, applicants may apply for permanent residency, provided they have resided in Latvia for at least four of those years. Requirements include:
Passing a Level A2 Latvian language test
Demonstrating knowledge of Latvian history and the national anthem
Citizenship: After 10 years of residence, applicants may apply for citizenship. Dual citizenship is not generally allowed, although exceptions exist.
Frequently Asked Questions
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