Latvia’s “bank‑deposit” golden visa offers a relatively low‑paperwork route to EU residency by locking a fixed‑term deposit in a Latvian bank. The scheme requires no real‑estate purchase or business creation, making it attractive for investors who prefer to keep their capital liquid.
Core requirements (2026)
| Requirement | Detail |
|---|---|
| Minimum deposit | €28,000 placed in a subordinated account with a Latvian credit institution. |
| Deposit type | Fixed‑term (FD/CD) for at least 5 years; the capital cannot be withdrawn before the term ends. |
| State fee | One‑time, non‑refundable fee of €25,000 payable to the Latvian state treasury after residency approval. |
| Interest earnings | Deposits earn roughly 2.5 %–3 % per annum (2026 rates). |
| Proof of livelihood | Applicant must demonstrate ≈ €15,500 per year in liquid funds (about €1,200 /month) to cover living expenses without working. |
| Health & background | Clean criminal record (apostilled police certificate) and medical certificate confirming no contagious diseases (e.g., TB). |
| Annual renewal | Physical visit to Latvia once per year to renew the ID card and confirm the deposit remains intact. No full‑time residence requirement. |
Cost breakdown (per applicant)
- Deposit: €28,000 (locked for 5 years)
- State fee: €25,000 (paid after approval)
- Total outlay: ≈ €53,000 (excluding personal living‑fund proof)
If a family of up to four applies, the deposit requirement remains €28,000 per applicant, while the state fee is applied per principal applicant.
Process overview
- Open a subordinated account with a Latvian bank and place the €28,000 deposit under a fixed‑term agreement.
- Prepare documentation: proof of sufficient liquid assets, apostilled police clearance, medical certificate, and passport copies.
- Submit the application to the Latvian Office of Citizenship and Migration.
- Await approval; the state fee is payable only after the residency permit is granted.
- Receive residency card and schedule the first annual visit to Latvia for ID renewal.
Benefits of the Latvian route
- EU residence: Allows visa‑free travel throughout the Schengen Area and the right to live, work, or study in any EU member state.
- No property purchase: Avoids the €300 k–€500 k real‑estate investment required by many other EU programs.
- Capital remains yours: The deposit is not a donation; it stays in the bank and earns interest, though it is locked for five years.
- Family inclusion: Dependent spouses and children can be added to the same residency permit.
Comparison with other options
| Program | Investment type | Minimum cost (per applicant) | Residency → Citizenship path | Notable features |
|---|---|---|---|---|
| Latvia (bank deposit) | Fixed‑term bank deposit | €53 k (incl. state fee) | 5 years residency; citizenship after 5–6 years | No property; low paperwork |
| Portugal Golden Visa | Real‑estate (€280 k–€500 k) or capital (€350 k) | €280 k+ | 5 years residency; citizenship after 5 years (or 3 years if CPLP citizen) | Strong passport; popular |
| São Tomé & Príncipe CBI | Direct citizenship by donation | €90 k (single) / €97 k (family) | Immediate passport; no EU residency | Low cost for passport only; limited travel benefits |
| Botswana CBI (planned) | Donation (≈ $75 k) | $75 k | Immediate passport; no EU access | Not yet launched (as of 2026) |
A notable strategy is to combine a low‑cost citizenship from a CPLP (Community of Portuguese‑Speaking Countries) nation such as São Tomé & Príncipe with the Latvian residency. The CPLP passport can facilitate a faster naturalisation route in Portugal (potentially three years earlier), while the Latvian residency provides immediate EU travel rights. This “dual‑track” approach can yield a strong travel passport for roughly €120 k (São Tomé & Príncipe passport ≈ €95 k + Latvian state fee €25 k).
Practical considerations
- Liquidity: The €28 k deposit is locked for five years; investors must be comfortable with the lack of immediate access.
- Annual presence: A short visit to Latvia each year is mandatory to keep the residency valid.
- Interest vs. fee: The modest 2.5 %–3 % annual return partially offsets the €25 k state fee, but the fee remains a sunk cost.
- Background checks: Clean criminal and health records are mandatory; any issues can delay or block approval.
- Family inclusion: Dependent family members do not require separate deposits, but each must meet the health and background criteria.
For investors seeking a straightforward, low‑cost entry into the EU without the complexities of property acquisition or business formation, the Latvian bank‑deposit golden visa stands out as a practical option, especially when paired with a separate low‑cost citizenship from a CPLP country.
