Latvia Closes Its Real Estate Golden Visa on September 15: What We Know

Latvia has adopted a new immigration law and closed the Golden Visa route through real estate investment. Find out which investment routes will remain available in 2026

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Latvia has officially bid farewell to one of Europe's oldest investment immigration programs. President Edgars Rinkēvičs has signed the new Immigration Law, and as of September 15, 2026, the routes to Latvia's golden visa through property purchase or a bank deposit are no longer available. The program, which had run for 16 years, is now being reshaped – and not everyone in the market is convinced the new framework is ready to accept its first applicants.

Formally, the law took effect on September 15, while applications filed with the Office of Citizenship and Migration Affairs (OCMA) up to and including September 14 will still be assessed under the old rules – with a five-year residence permit. This created a two-week scramble among investors who had already prepared their documents in advance.

If you're only now considering a move to Latvia, though, the new rules are exactly what's worth studying today.

Read also about Greece's new investment thresholds and faster golden visa processing in 2026.

Obtaining a residence permit in any country comes down mostly to paperwork – and how well it's prepared decides the outcome. 

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What exactly disappeared from Latvia's investment routes in 2026?

Until September 15, foreigners could obtain a temporary residence permit by investing at least €250,000 in real estate or placing a €280,000 subordinated bank deposit. Both options were closed without a transition period for new applicants – parliament considered these the routes most exposed to security risks and weak control over the origin of funds.

The president had previously sent the law back for a second review, proposing to keep the real estate route open to citizens of the EU, NATO, OECD and other "friendly" states. Lawmakers didn't support the idea: the opposition pointed to the program's weak economic returns, while part of the ruling coalition openly linked the golden visa to the old model of attracting Russian capital. With the Saeima elections coming in October, there was simply no political appetite to revive a contentious route.

Spain's golden visa has been scrapped. Read here which legalization options remain available in 2026.

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Which investment routes are still available?

The business route survived, albeit in a different form. An investment of at least €50,000 in the equity of a small Latvian company, or €100,000 for companies with more than 50 employees and turnover above €10 million, still qualifies for a residence permit, on top of a mandatory €10,000 state fee. The main change here isn't the amount but the term: the permit used to run for five years, now it's only two.

The second active route is new to Latvian law. It involves an investment of at least €150,000, held for a minimum of five years through a state-established alternative investment fund manager, alongside the same €10,000 fee. The permit issued under this route runs for up to five years – effectively partially replicating conditions similar to the scrapped real estate route, only now in the form of fund investment rather than direct asset ownership.

The law separately confirmed a ban on both investment routes for citizens of Russia and Belarus – a gap that was closed back in June, after the first version of the law accidentally left the fund option open to them.

Which countries let you relocate your whole family on a golden visa – find out here.

Why the fund route is still more theory than practice

Lawyers handling Latvian cases point to an important nuance: the state fund route is written into the law, but the mechanism behind it isn't fully operational yet. The government has until December 1, 2027 to adopt implementing rules, including details on the state fee and the required proof of the investor's source of funds.

In other words, the right to apply under the new fund route already exists, but the practical infrastructure – fund managers, the process for vetting funds, anti-money-laundering procedures – is still being built. Anyone considering this option should budget time for the Cabinet of Ministers' final regulations rather than relying solely on the text of the law.

Where in Europe you can still get a residence permit through a golden visa – we cover it here.

What to know if you planned to apply after September 15

For investors who missed the deadline, the realistic option now is the business route with its two-year permit – it's already operational and doesn't depend on future regulations. The fund route is best treated as a prospect for the coming months, once the government finalizes the implementation details.

Overall, Latvia has joined a growing list of European countries gradually moving away from "passive" golden visa routes in favor of options tied to real economic activity. How quickly the state fund infrastructure will be ready to accept its first investors is a question the Latvian Cabinet of Ministers is expected to answer in the coming months.

Investment immigration is one of the most complex areas of migration law: golden visa rules change almost every year, and transition periods like Latvia's require acting quickly and without mistakes in the paperwork. Working out on your own which route is still open, what proof of funds you'll need, and how to avoid a refusal over a formal inaccuracy is difficult even for a well-prepared investor. 

A migration lawyer on Visit World will assess your situation professionally, build an individual legal plan for your target country and goal, and take over communication with the migration authorities. That matters especially in cases where the stakes are high and the timeline is tight – as it is in Latvia right now. An experienced specialist will help you get through the process faster and without unnecessary delays. 

Reach out to a migration lawyer on Visit World and get a personal action plan. 

A reminder: Portugal draws people in with its mild climate and high quality of life, but the differences between its cities are bigger than they seem. Lisbon has more jobs, Braga has cheaper housing, and Faro and Funchal each come with their own advantages and limitations. We've already covered rent, salaries, transport and everyday costs in five of Portugal's best cities for expats.

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