The Latvia Residence by Investment Program, initiated on 1 July 2010, emerged as a strategic response to the economic challenges posed by the 2007–2009 crisis. This program offers foreign nationals pathways to obtain a residence permit in Latvia through diverse investment avenues.
Investment
Minimum investment starting from EUR 60,000
Processing time
Processing typically ranges from one to three months from the submission of the application to approval.
Key benefit
Includes the right to live, work, and study in Latvia.
The Latvia Residence by Investment Program stands out as one of Europe's swiftest and most competitive pathways. Originating on July 1, 2010, as a strategic response to the economic challenges of 2007–2009, this program has bolstered Latvia's economy significantly. In its initial five years alone, it injected over EUR 1.3 billion into Latvia's economic bloodstream, with more than EUR 1.1 billion stemming from real estate investments by international investors. (Note: Real estate investment option suspended since January 2022.)
Under the program's eligibility criteria, foreign nationals can secure a residence permit in Latvia by deploying funds into the equity capital of a Latvian company, extending a subordinated loan (deposit) to a Latvian bank, or investing in interest-free government bonds designated for special purposes.
Alternatively, applicants can opt to invest in Latvian real estate valued at a minimum of EUR 250,000 and pay a state fee equivalent to 5% of the property price.
The document processing typically spans 30 to 90 days. Family members, including a spouse and children under 18, can apply for a residence permit concurrently with the main applicant. Upon approval by the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor must personally visit Latvia within three months to obtain their temporary residence permit in the form of an ID card. This permit is valid for five years, requiring annual renewal through the ID card.
There is no specified minimum duration of physical presence in Latvia mandated for the renewal of the residence permit.
After holding the residence permit for five years, the applicant becomes eligible to apply for a permanent residence permit. To qualify, the applicant must have lived in Latvia for at least four out of the previous five years and pass a basic Latvian language test at Level A2. Additionally, they must demonstrate knowledge of Latvia's general history and the national anthem. Applicants are typically required to renounce their previous citizenship, although exceptions may be considered.
If you have any inquiries or would appreciate a comprehensive breakdown of the specific costs for your family, please don't hesitate to reach out to us. We would be more than happy to assist you.
Please fill out the following information to Start a Chat with One of Our Citizenship Experts
