Latvia’s Golden Visa framework is set for major changes after the Saeima, Latvia’s parliament, passed a new Immigration Law on 11 June 2026. The law still awaits presidential signature and is expected to enter into force on 1 January 2027 if completed, reshaping one of the EU’s longest-running investment residence programs rather than closing it.
Main changes under the new law
The reform would significantly simplify Latvia’s investment residence options by removing three of the four current routes.
The real estate route, one of the program’s most popular options and responsible for nearly half of all approvals in 2025 and early 2026, would no longer be available. A parliamentary proposal to keep a version of the €250,000 property route was considered but rejected.
Two other routes would also be discontinued:
- the €280,000 bank subordinated liabilities deposit route;
- the €250,000 government securities route.
In their place, the law introduces a new investment route. Applicants would be able to obtain a five-year temporary residence permit by investing at least €150,000 for a minimum of five years through a state-established Alternative Investment Fund Manager, plus a €10,000 contribution to the state budget.
This new route would be channelled only through a state-created fund manager, not the wider private Alternative Investment Fund Manager market.
Company investment route remains
The company investment route would remain available and continue to be one of the lower-cost EU residence options.
The main company route would require:
- €50,000 company investment;
- €10,000 state contribution.
A second €100,000 tier would also remain for larger qualifying companies.
However, both company investment options would most likely see permit validity reduced from five years to two. Qualifying businesses would also remain subject to strict requirements on size, turnover, and minimum annual tax contributions to show genuine economic activity.
Latvia follows a wider European trend
Latvia’s reform follows a broader European shift away from direct real estate as the default investment migration route.
Recent examples include:
- Portugal eliminated its Golden Visa real estate route in October 2023 and redirected capital into regulated investment funds and productive economic channels.
- Spain ended its Golden Visa entirely in April 2025.
- Greece restructured property thresholds in August 2024, raising entry points in high-demand zones.
- Hungary relaunched its Guest Investor Programme in 2024 using a regulated real estate fund structure rather than direct property purchase.
The common direction is toward investments that are easier to supervise, more aligned with state economic objectives, and more defensible under EU and domestic scrutiny.
Why the reform matters
Latvia is not ending its Golden Visa. It is repositioning the program toward state-directed investment vehicles, clearer oversight, defined timelines, and higher minimum requirements.
The aim is to preserve the economic benefits of investment residence while showing that residency-linked capital contributes measurably to the Latvian economy.
In 2025, Latvia’s program recorded 206 permit approvals, a 35% increase from the previous year and its strongest performance in four years. The program’s appeal was based on accessible entry points, fast processing, a clear framework, EU residency, and Schengen mobility.
Those features may remain relevant, but the terms are changing.
Transitional window for current investors
If the law is signed and enters into force as passed, applications submitted before 1 January 2027 would be reviewed under the current rules.
Permits already issued before the new law enters into force are expected to remain valid until the end of their registration period. If no registration period is set, they are expected to remain valid until the end of their validity period under Provision 6 of the new Immigration Law.
All four current Golden Visa investment options, including the real estate route, remain active until the new law enters into force.
Practical implications
Investors considering Latvia under the current structure should pay close attention to the transition period. The existing real estate, bank deposit, government securities, and company routes remain available for now, but the new framework would remove most of them from 2027 if the law proceeds as passed.
The final shape of the reform still depends on presidential signature, publication in the official gazette, and implementation. Laws of this scope may undergo extended review before entering into force.
For now, Latvia’s Golden Visa remains open, but the direction is clear: fewer passive investment routes, more state-supervised investment, and a stronger focus on economic contribution.
Source article: www.globalcitizensolutions.com
