Latvia’s latest immigration reform introduced a €150,000 alternative‑investment‑fund pathway for its Golden Visa program, but a group of Progressives lawmakers has filed a bill to eliminate that route entirely.
Legislative background
- New Immigration Law – Approved by Parliament on 20 August 2026, effective 15 September 2026. It abolished the long‑standing real‑estate and bank‑deposit investment options.
- Remaining pathways – Investment in the share capital of a Latvian company (‑ €50,000 for a small firm or €100,000 for a larger one, plus a €10,000 state fee) and the newly created €150,000 fund route.
- Fund route details – Applicants would obtain a temporary residence permit (up to five years) by investing at least €150,000 through a state‑established alternative‑investment‑fund manager, maintaining the investment for five years, and paying an additional €10,000 to the state budget. Permit renewal depends on keeping the investment and the fund agreement active.
Proposal to remove the fund route
- Submitted: 3 September 2026 (Bill 1521/Lp14).
- Sponsors: Progressives faction chair Andris Šuvajevs and MPs Andris Sprūds, Liene Gātere, Kaspars Briškens, Jana Simanovska.
- Target: Complete deletion of the fund provision under Article 27(1)(36); the company‑investment pathway would remain untouched.
Rationale offered by the sponsors
- Security and reputational risks – Concerns about money‑laundering, sanctions evasion, and broader misuse of investment‑based residency.
- Policy principle – Questioning whether financial capacity alone should justify residency, versus labor‑market needs, national security, and integration.
- Economic impact – No payments had been received under the fund route at the time of the proposal; sponsors cite a May 26 parliamentary inquiry report recommending closure of all investment‑based residency routes, including the company option.
Current status for investors
- The €150,000 fund route is legally defined but not yet operational; the required fund structure has not been created, so applications cannot presently be submitted.
- The company‑share‑capital route continues to be available, with a reduced permit length (two years) and investment thresholds of €50,000 or €100,000 plus a €10,000 state fee.
- Applications submitted before 15 September 2026 under the old real‑estate or bank‑deposit schemes are processed under transitional provisions; no such transitional rules exist for the fund route because it has not been implemented.
Outlook
The bill’s progress will be influenced by the parliamentary schedule and the upcoming election on 3 October 2026. If adopted, the fund pathway would be removed, leaving only the company‑investment option as Latvia’s remaining Golden Visa route. Until legislation changes, the €150,000 fund route remains a potential, but uncertain, option for prospective investors.
Source article: outboundinvestment.com
