Latvia Golden Visa Program

Overview

The Latvia Golden Visa program offers non-EU nationals a streamlined pathway to European residency by making a qualifying investment in Latvia’s economy.

Nestled in the Baltic region of Northern Europe, Latvia is a dynamic EU member state that seamlessly blends rich cultural heritage with modern infrastructure and natural beauty. Since gaining independence in 1991, Latvia has become an integral part of the European Union, the Eurozone, and the Schengen Area, offering seamless access to European markets and lifestyle opportunities. The capital city, Riga, renowned for its Art Nouveau architecture and vibrant cultural scene, serves as a testament to the country’s historical depth and contemporary vitality.

Latvia’s diverse landscapes encompass over 500 kilometers of pristine coastline, expansive forests covering more than half the country, and numerous lakes and rivers, providing ample opportunities for outdoor recreation. With a high-income, export-driven economy and a strong emphasis on innovation and digitalization, Latvia stands out as a strategic location for investors. The country’s commitment to democratic governance, coupled with its robust education system and high quality of life, makes it an attractive destination for families and entrepreneurs seeking a secure and prosperous environment in Europe.

Key Benefits

  • Schengen Access: Visa-free travel across 26 European countries.
  • Family Inclusion: Spouses and dependent children can be included in the application.
  • No Residency Requirement: No obligation to reside in Latvia to maintain residency status.
  • Path to Citizenship: Eligibility to apply for Latvian citizenship after 10 years, subject to residency and language requirements.
  • Efficient Processing: Residency permits typically issued within 1–3 months.

Investment Options

1. Real Estate Investment

  • Minimum Investment: €250,000 in residential or commercial property.
  • Additional Fees: 5% of the property’s value payable to the state.


Requirements:

  • Property must be located in designated areas such as Riga, Jurmala, or other specified municipalities.
    o The cadastral value of the property must meet minimum thresholds (e.g., €80,000 in Riga).
    o Investment must be held for a minimum of 5 years.


2. Business Investment

  • Minimum Investment:
    o €50,000 in a Latvian company with fewer than 50 employees and an annual turnover under €10 million.
    o €100,000 in a company with more than 50 employees and an annual turnover exceeding €10 million.
  • Additional Fees: €10,000 state fee.
  • Requirements:
    o The company must pay at least €40,000 in annual taxes.
    o Investment must be maintained for at least 5 years.

Eligibility Criteria

  • Age: At least 18 years old.
  • Nationality: Non-EU, non-EEA, and non-Swiss citizens.
  • Financial Means: Proof of sufficient funds to support oneself and dependents.
  • Health Insurance: Valid coverage for at least one year.
  • Clean Criminal Record: No criminal convictions.
  • Investment Compliance: Fulfillment of the chosen investment option’s requirements.

Application Process

  1. Choose Investment Option: Select the most suitable investment pathway.
     
  2. Prepare Documentation: Gather necessary documents, including proof of funds, health insurance, and clean criminal record.
     
  3. Make the Investment: Complete the investment as per the selected option.
     
  4. Submit Application: Apply through the Office of Citizenship and Migration Affairs in Latvia or at a Latvian embassy.
     
  5. Biometrics and Interview: Attend an appointment for biometric data collection and, if required, an interview.
     
  6. Receive Residence Permit: Upon approval, obtain a temporary residence permit valid for 5 years, with annual renewals.

Path to Permanent Residency and Citizenship

  • Permanent Residency:
    o After 5 years of temporary residency, applicants may apply for permanent residency.
     
    o Requirements:
    • Physical presence in Latvia for at least 183 days per year for 4 out of the 5 years.
    • Basic proficiency in the Latvian language (A2 level).
    • Knowledge of Latvian history and the national anthem.
     
  • Citizenship:
    o Eligible after 10 years of continuous residence (5 years with temporary residency and 5 years with permanent residency).
     
    o Requirements:
    • Continued physical presence in Latvia.
    • Advanced proficiency in the Latvian language.
    • Demonstrated integration into Latvian society.
    • Renunciation of previous citizenship, unless exempted.

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