Latvia offers one of the most affordable routes to EU residency through investment—with a minimum threshold of €50,000. The “Golden Visa” program grants the investor and their family the right to reside, work, and move freely within the Schengen Area. Learn more about investment options, processing fees, required documents, and the path to Latvian citizenship

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Latvia remains one of the few EU countries where a residence permit can be obtained through an investment of at least €50,000. The program has been in effect since 2010 and has attracted approximately €1.5 billion and over 20,000 applicants during that time. The permit grants access to the Schengen Area, the European healthcare system, and education for the investor and their family.

In this article, we discuss investment options, the required documents, the stages of the procedure, costs, renewal conditions, and the path to permanent residency and citizenship in Latvia.

Are you planning to invest in the EU economy and obtain a residence permit in Europe?

The Visit World portal offers a personal business attorney service to guide you through the entire process—from company registration and choosing a tax system to document preparation, risk mitigation, and resolving disputes with counterparties.

What investment options are available for the Latvian Golden Visa?

The Latvian investment-based residence permit program offers three main pathways, each with different entry thresholds and maintenance requirements.

● Business investment — starting at €50,000. The applicant may increase the authorized capital of an existing Latvian company or establish a new one. The minimum amount is €50,000 for companies with a turnover of up to €10 million and up to 50 employees. For larger enterprises, the threshold increases to €100,000. Upon approval of the application, a one-time state fee of €10,000 is paid. According to 2024 statistics, 74% of applicants chose this option.

● Real estate purchase — starting at 250,000 euros. The property must already be built and located in Riga or within a 30-kilometer radius of the city. Payment must be made exclusively by bank transfer to a Latvian account—cash payments are not accepted. The seller may be a company registered in Latvia, another EU country, the EEA, or Switzerland that is a Latvian taxpayer. The property must be held for at least 5 years, after which it may be sold while retaining resident status. The state fee is 5% of the property’s value and is paid after the application is approved.

● Bank deposit — starting at 280,000 euros. Funds are invested in subordinated bonds of a Latvian bank for a term of 5 years. The yield can reach 3% per year. This is the most capital-intensive option of the three, with a state fee of €25,000 and an account opening fee of €4,000.

Complete guide to visa requirements in 2026 — find it here.

How much does a Latvian Golden Visa cost: a complete cost breakdown

The total cost of the application consists of the investment threshold, state fees, and administrative costs, which depend on the chosen route.

For business investments, the government fee starts at €10,000. Real estate costs include a 5% government fee (minimum €12,500), 2% notary fees (minimum €5,000), and €1,000 for opening an escrow account. A bank deposit requires a state fee of €25,000 plus €4,000 for opening an account.

Regardless of the chosen option, each applicant and family member additionally pays: a Schengen visa fee of €60 per person, biometric data fee of €80, residence permit fee — €160, medical examination — starting at €45, document processing — starting at €1,000, registered address — starting at €300 per month. All amounts listed are minimums and may increase depending on the number of family members and individual circumstances.

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What documents are required for a Latvian investor visa?

The document package consists of three parts: standard documents, proof of investment, and proof of financial solvency. All materials must be translated into Latvian and notarized.

The standard package includes:

– a completed application form with a 35×45 mm color photograph;

– a copy of your passport;

– proof of legal income (employment or copyright contract, securities documents);

– receipts for payment of fees;

– a health insurance policy covering the entire duration of the stay;

– certificates of no criminal record from each country of residence for more than 12 months;

– a certificate of no tuberculosis from a Latvian medical institution;

– marriage or birth certificates (if necessary).

The validity periods of the documents vary: proof of funds — 3 months, criminal record certificate — 6 months, tuberculosis certificate — 1 year.

To confirm the real estate investment, you must submit purchase documents, proof of a bank transfer, and a certificate confirming that the market value meets the requirements. For a bank deposit, you need a certificate confirming the deposit of 280,000 euros for a 5-year term.

Separately, financial solvency must be confirmed. Real estate investors must demonstrate the availability of €26,640 in their account (plus €8,880 for a spouse and €2,664 for each child).

For other investment options, the minimum amount is €8,880 for the main applicant, €8,880 for a spouse, and €2,664 for each child.

Where can you travel with your passport — find out by following the link.

Steps to Obtain a Latvian Residence Permit Through Investment

The procedure, from start to finish, takes approximately 3 months or more and consists of several sequential stages.

1. Preliminary screening (about 1 day). A certified anti-money laundering specialist conducts a screening to identify potential risks. This reduces the likelihood of rejection to approximately 1%. The agreement with the investor is signed only after this stage.

2. Document preparation (2–3 weeks). At this stage, a lawyer helps gather the necessary documents, ensure proper certification, and fulfill translation requirements.

3. Making the investment (2+ months). The applicant implements the chosen option: an investment in the company’s share capital, the purchase of real estate, or an investment in the bank’s subordinated bonds.

4. Submission and review of the application (1+ month). The application can be submitted through the Latvian embassy in the country of residence or directly to the Office of Citizenship and Migration Affairs (OCMA) in Latvia. Holders of a valid Schengen visa or visa-free access to the EU are advised to submit their application from within Latvia.

5. Obtaining a Category D visa (up to 1 month). Upon approval, the applicant receives a temporary D visa to enter Latvia. Three months are allowed for completing biometric procedures.

6. Submission of biometric data. The investor and their family members arrive in Latvia, undergo a medical examination, and pay the remaining fees.

7. Issuance of residence cards (5–30 days). Cards are issued in person.

Benefits of the Latvian Golden Visa for the investor and family

The Latvian investment-based residence permit offers a number of practical benefits that make the program attractive to third-country nationals.

The permit is issued for 5 years with the right to unlimited renewal. The holder and their family members (spouse and children under 18) are granted the right to live, work, and study in Latvia, as well as travel to the 29 countries of the Schengen Area for up to 90 days within any 180-day period. After 5 years, you can apply for permanent residency, and after another 5 years—for citizenship.

The program does not require a minimum period of actual stay in the country. It is sufficient for the investor to enter Latvia once every 12 months to renew the permit. Passing a language exam during the temporary permit application process is also not required.

Latvian residents have access to free education from preschool through secondary school, can enroll in Latvian public universities, and participate in the Erasmus+ program. They are also entitled to national health insurance, which covers primary, specialized, and emergency care.

The European Health Insurance Card (EHIC) allows you to receive medical care throughout the EU.

The top 25 best countries to retire in 2026 — compiled here.

What do you need to know about the program’s risks and limitations?

The Latvian program has a number of limitations that should be considered before making a decision.

Some investment options, including subordinated bank deposits and government bonds, are locked in for 5 years with limited early exit options. Bank capital in subordinated instruments is not protected by the standard EU deposit guarantee (€100,000). Latvia’s real estate market is smaller and less liquid compared to Portugal, Spain, or Greece, and rental demand is concentrated primarily in Riga.

Administrative requirements demand constant attention: annual re-registration requires entering Latvia at least once a year and submitting updated financial, medical, and police records. Citizenship can only be obtained after 10 years of residence (5 years temporary + 5 years permanent), so mobility at the level of an EU citizen and voting rights remain unavailable for a long time.

Renewal of a residence permit in Latvia through investment

An investor who does not plan to apply for permanent residence has the right to renew their permit an unlimited number of times. An application for renewal may be submitted during the permit’s validity period or within 90 days after its expiration. In practice, the effective timeframe is about 50 days, as 30 days are allocated for verification and 10 for issuing a new card. Any subsequent application is treated as a new application.

To renew, the investor must confirm the continued existence of the investment, the absence of overdue tax debts, sufficient income, and the existence of health insurance. Additionally: real estate investors must demonstrate no outstanding property tax debt; investors in banking instruments must have an active deposit of €280,000 for a 5-year term; and business investors must have annual tax payments of at least €40,000. The state fee for an approved extension is €5,000.

We discussed the best countries to move to in 2026 in a previous article.

How to obtain permanent residency and citizenship in Latvia through investment?

The right to apply for permanent residency arises after 5 years of legal residence in Latvia. A mandatory condition is continuous residence: absences may not exceed 6 consecutive months or 12 months in total over the 5-year period.

The applicant must prove an income at the subsistence level, have housing (owned or rented), pass a Latvian language exam at the A2 level, and demonstrate knowledge of Latvian history and the national anthem. The standard processing fee is €35 (30 days), the expedited fee is €90 (10 days), or €140 (5 days). The permit is valid for 5 years and must be renewed.

Latvian citizenship is available after 5 years of permanent residence (i.e., a total of 10 years in the country). Time spent on a temporary permit does not count toward the citizenship requirement. The applicant must not be absent for more than 6 consecutive months or 10 months in total during the 5-year period. Applicants must pass a language exam (A2 level), a test on history and the Constitution, have a stable income, and sign an oath of allegiance to Latvia.

Dual citizenship is generally not permitted—the applicant must renounce their current citizenship. Exceptions apply to citizens of EU, EFTA, and NATO countries (including the U.S., the UK, Canada, and Turkey), as well as Australia, New Zealand, and Brazil.

Remember! Obtaining a residence permit through investment involves a significant number of legal nuances—from business registration and choosing a tax system to managing document flow, reporting, and minimizing tax risks. The Visit World portal offers a personal business attorney service to assist with all these matters, as well as notary support, dispute resolution with counterparties, work visa processing, remote launch of a representative office, and business relocation abroad.

Legal support becomes critically important in situations involving lawsuits, complex disputes with counterparties, or government authorities. Working with a specialist will help you avoid unpleasant consequences and resolve all legal issues in your favor. A personal business attorney is a reliable partner who will protect your business, money, and time.

Book a consultation on the Visit World portal and get professional legal support for your investment project!

Reminder! The number of countries worldwide where foreign income is not taxed is growing, opening up new opportunities for business and relocation. Which 15 countries offer favorable tax conditions and a comfortable lifestyle in 2026—find out by following the link.

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Products from Visit World for a comfortable trip:

Checklist for obtaining a visa and necessary documents in Latvia;

Legal advice on immigration to Latvia;

Travel insurance for foreigners in Latvia;

Medical insurance around the world.

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