Latvia Residence by Investment: Your Gateway to European Living

Overview of the Program

Launched on July 1, 2010, the Latvia Residence by Investment Program emerged as a strategic response to the 2007–2009 economic crisis. This program offers foreign nationals the opportunity to acquire residency in Latvia through various investment avenues, fostering economic growth in the nation.

Investment Criteria

To participate in this program, a minimum investment of EUR 60,000 is required.

Processing Timeframe

The application process is efficient, with approvals typically granted within one to three months from submission.

Travel and Residence Rights

A key advantage of this program is the right it grants to live, work, and study in Latvia, opening a gateway to Europe.

The Economic Impact and Program Success

Since its inception, Latvia’s economy has significantly benefited from the program, with over EUR 1.3 billion accrued by 2015, largely from real estate investments by foreign nationals. Although the real estate option was suspended in January 2022, the program continues to offer other viable investment routes.

Investment Options

Eligible investments include committing funds into a Latvian company’s equity, making a subordinated loan in a Latvian bank, or purchasing special purpose, interest-free government bonds.

Benefits of Latvia’s Residence Program

• Visa-free access to the Schengen Area.
• No minimum stay requirement for residence permit renewal.
• Fast-track application procedure.
• Russian language widely spoken, easing communication.
• Excellent transport links with Russia and other EU states.
• Eligibility for citizenship after 10 years of legal residence.

Program Requirements Applicants must:

• Invest EUR 50,000 in a Latvian company’s equity (with the company paying at least EUR 40,000 in annual taxes).
• Make a one-time EUR 10,000 payment to the state budget.
• Show financial capability to support themselves and their family without Latvian social assistance.

Financial Requirements for Family Support

• EUR 15,480 annually for a single applicant.
• EUR 20,640 annually for an applicant with a spouse.
• EUR 22,188 annually for a married couple with one child.

Procedures and Timelines

Document processing takes about 30–90 days. Family members, including spouses and children under 18, can apply alongside the main applicant. Successful applicants are required to visit Latvia within three months of approval to collect their temporary residence permit ID card, which is valid for five years and requires annual renewal.

Residency Requirements and Path to Citizenship

There’s no minimum physical presence required for residence permit renewal. After five years, applicants may seek a permanent residence permit, subject to certain conditions, including a basic Latvian language test and knowledge of Latvia’s history and national anthem. Citizenship requires renouncing former citizenship, though exceptions may exist.