Latvia offers a “Golden Visa” program that grants a residence permit for non‑EU investors and their families. The permit allows full‑time residence in Latvia and visa‑free travel within the Schengen area (up to 90 days in any 180‑day period). Holders are not required to spend time in Latvia to keep the permit, but a physical presence is needed if they later seek citizenship.
Investment routes
| Route | Minimum investment | Holding period | Additional fees | Key conditions |
|---|---|---|---|---|
| Bank deposit | €280,000 in a Latvian bank | 5 years | €38,000 government fees | Funds must remain in the account for the full period. |
| Real estate | €250,000 in property | 5 years | €38,000 government fees (if applicable) | • In Riga the €250k must be a single property. • In other cities the amount can be split across multiple properties. • Property cannot be vacant land, agricultural land, or purchased by a Latvian citizen. • Must be bought by a non‑EU investor. |
| Latvian company | €50,000 (non‑refundable) | – | – | Investment is treated as a donation. The company must meet specific turnover, profit and employment thresholds. Investor can be a shareholder or board member, which slightly alters the requirements. |
| Government bonds | €280,000 in Latvian government bonds | – | €38,000 government fees | Structurally similar to the bank‑deposit route. |
Process timeline
- Typical duration: ~4 months from application to issuance of the residence permit.
- Factors influencing speed: applicant’s nationality, documentation completeness, and personal residency history (e.g., continuous residence in a single country vs. recent nomadic travel).
Path to citizenship
- Residency requirement: 183 + days per year in Latvia for 10 years before eligibility for a passport.
- Tax residency: Spending 183 + days in a calendar year makes the holder a Latvian tax resident, subjecting worldwide income to Latvian tax rates (up to 30 % depending on income level).
Practical considerations
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Choosing an investment:
- Real estate is often preferred because it combines a tangible asset with the residence permit and does not require ongoing management like a company share.
- Bank deposits and government bonds are lower‑maintenance but lock up capital for five years.
- The company investment is the smallest monetary threshold but carries business‑related compliance risks.
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Tax implications:
- Non‑residents are not taxed on foreign income, but once the 183‑day threshold is met, all worldwide earnings become taxable in Latvia.
- Compared with Spain, France or Germany, Latvian personal income tax rates are moderate (max 30 %).
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Family inclusion: Spouses and dependent children can be added to the residence permit, provided the primary investor meets the investment threshold.
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Renewal: No physical stay is required to renew the residence permit, simplifying long‑term planning for investors who wish to remain abroad.
Risks and caveats
- Currency risk: Investments are denominated in euros; fluctuations in the investor’s home currency can affect the effective cost.
- Liquidity: Bank deposits and bonds are locked for five years; early withdrawal may be prohibited or penalised.
- Property market: Real‑estate values can vary by region; investors should assess market trends, especially outside Riga where multiple properties are allowed.
- Regulatory changes: Immigration and tax laws can be amended; ongoing compliance monitoring is advisable.
Overall, Latvia’s Golden Visa provides a relatively low‑cost entry point to EU residence, with flexible investment options and a straightforward application timeline. The choice of route should balance capital availability, desired asset type, and long‑term plans regarding residency, taxation, and potential citizenship.
