Latvia Golden Visa: Your Gateway to Europe through Investment

The Latvia Golden Visa, officially known as the Latvian Residence Permit Program, is one of the most affordable and accessible residency-by-investment programs in the European Union. Launched in 2010, this program offers non-EU nationals a pathway to obtain a renewable temporary residence permit in exchange for specific types of investments in Latvia.

This visa allows individuals and their families to live, travel, and do business in Latvia—and more importantly, enjoy visa-free access to the Schengen Zone for up to 90 days within a 180-day period.

Investment Options

Latvia offers several routes to qualify for the Golden Visa. The most popular and cost-effective option is through real estate investment:

1. Real Estate Investment:
   • Minimum investment of €50,000 in real estate in rural areas or €250,000 in Riga and other major cities.
   • Additional government fee of 5% of the property value.
   • The property must be held for a minimum of 5 years.
2. Bank Deposit:
   • Minimum of €280,000 deposited in a Latvian credit institution for at least five years.
   • One-time government fee: €25,000.
3. Company Investment:
   • Invest at least €50,000 into the equity capital of a Latvian company (with at least 50 employees and €10 million in turnover).
   • An additional state fee of €10,000 applies.
4. Government Bonds (Previously available, now suspended):
   • Latvia had offered residency for investment in government securities, but this option is currently on hold.

Who Can Apply?

• Non-EU/EEA and non-Swiss nationals.
• Applicants must have a clean criminal record and prove the legal origin of investment funds.
• Family members (spouse and dependent children) can be included under the same application.

Key Benefits of Latvia Golden Visa

• Schengen Access: Visa-free travel across 27 Schengen countries.
• Affordable Entry Point: One of the lowest minimum investment thresholds in the EU.
• Fast Processing: Application usually processed within 30–90 days.
• Renewable Residency: Residence permit is valid for 5 years, with renewal every year.
• Path to Permanent Residency: After 5 years of temporary residency, one can apply for permanent residence.
• Path to Citizenship: Citizenship possible after 10 years of residency, subject to language and civics requirements.
• Business Opportunities: Access to the Latvian and broader EU markets.

Application Process

1. Choose investment option and complete transaction.
2. Submit application to the Office of Citizenship and Migration Affairs (OCMA).
3. Provide biometric data, criminal background checks, proof of funds, and health insurance.
4. Upon approval, receive a Temporary Residence Permit (TRP) and residence card.

Important Notes

• Physical presence in Latvia is not required for maintaining temporary residency.
• To apply for permanent residency or citizenship, actual residence in Latvia is required.
• All documents must be translated into Latvian and notarized where necessary.