Latvia’s immigration law was amended and took effect on 15 September 2026, ending the country’s long‑standing “golden visa” routes that granted temporary residence through real‑estate purchases or bank deposits. Applications submitted by 14 September 2026 will still be evaluated under the previous rules, but any new filings must follow the revised framework.
Investment routes under the new law
| Route | Minimum investment | Additional payment | Permit length | Eligibility restrictions |
|---|---|---|---|---|
| Company‑ownership – small business | €50,000 | €10,000 state fee | 2 years (instead of 5) | Open to all non‑restricted nationals |
| Company‑ownership – larger business (≥50 employees, €10 M turnover) | €100,000 | €10,000 state fee | 2 years | Same as above |
| State‑run investment fund (new) | €150,000 (held ≥5 years) | €10,000 state fee | Up to 5 years | Open to all non‑restricted nationals; fund vehicle not yet operational |
| Real‑estate (old) | €250,000 | – | – | Closed after 15 Sept 2026 |
| Bank deposit (old) | €280,000 (subordinated) | – | – | Closed after 15 Sept 2026 |
- Russian and Belarusian citizens are barred from all investment routes, a restriction added after a June 18 amendment.
Timeline and procedural notes
- Applications filed up to 14 Sept 2026 – assessed under the previous law, which still allows the real‑estate and bank‑deposit routes.
- Applications filed on 15 Sept 2026 or later – must use one of the three routes listed above.
- The government has until 1 Dec 2027 to adopt detailed implementing regulations, including the mechanics of the €10,000 state‑budget payment required for each route.
- The state‑run fund vehicle is mentioned in the law but, as of the law’s entry into force, it “does not appear to be fully operational,” meaning the route may be legally available but not practically usable until the Cabinet of Ministers issues the necessary regulations.
Practical implications for investors
- Urgent filing – Investors who already have a property identified, documents prepared, and a transaction near completion can still submit under the old rules if they file by 14 Sept 2026.
- New investors – Must consider the company‑ownership or fund routes. The company route now offers a shorter two‑year permit, which may be attractive for those seeking quicker renewal or conversion to permanent residence.
- Risk of delay – Because the fund route’s infrastructure is not yet in place, applicants should be prepared for possible administrative lag before the investment can be formally recognized.
- Exclusions – Citizens of Russia and Belarus are ineligible for any of the remaining routes, eliminating a loophole that existed in the original draft of the law.
Political background
- The Saeima passed the amendment on 11 June 2026 (65‑17) and, after a presidential review, re‑passed it on 20 August 2026 with minor security‑vetting enhancements.
- President Edgars Rinkēvičs requested that a real‑estate route remain for citizens of EU, NATO, OECD, EEA, and other “friendly” nations, but the proposal lacked parliamentary support. Concerns cited included security and migration risks, weak economic returns from the pre‑2022 intake, and political sensitivities ahead of the October Saeima election.
- The opposition National Alliance and the centre‑right Jaunā Vienotība argued that the real‑estate route was linked to the “old golden visa” model and Russian elites, further reducing political appetite for its retention.
Outlook
Latvia now joins other European states that have shifted from property‑based golden visas to investment‑fund or business‑ownership models. The effectiveness of the new state‑run fund route will depend on the Cabinet’s forthcoming regulations and the operational readiness of the investment vehicle. Investors should monitor the implementation timeline and be prepared for possible delays before the new pathways become fully functional.
Source article: www.imidaily.com
