Please note that the investment program in Latvia is currently closed for Russian and Belarussian nationals.
A Golden Visa is an investment program that allows you to get a Latvian residence permit or Latvian citizenship by either purchasing property in Latvia or donating/investing a large amount of money in Latvian resources. The Golden visa is also referred to as obtaining either a residence permit or citizenship by investment. Latvia is one country requiring you to reside in the country for about five to ten years to get a residence permit or citizenship.
Investment Options for a Latvia Golden Visa
The types of investment options that lead to a Latvia golden visa are:
- Business Investment.
- Real Estate Investment.
- Bank deposit through a financial institution.
- Investment by Government stocks.
Golden Visa by Business Investment
The first way to get a Latvia golden visa is by Business Investment by fulfilling at least one of the following requirements:
- An investment of €50.000 in a capital company with less than 50 employees and an annual budget of less than €10 million.
- An investment of €100.000 in a capital company with more than 50 employees and an annual budget of over €10 million.
- An investment of €100.000 in a capital company with other subsidiaries in Latvia with over 50 employees and an annual budget of over €10 million.
You need to hold your investment for five years and pay an additional state fee of €10.000.
Golden Visa by Real Estate Investment
To get the Latvia golden visa by real estate investment, you must fulfill the following requirements:
- You must buy a property of at least €250,000 in addition to 5% of the property’s value in government fees.
- The property was not paid in cash.
- The property must be registered in Latvia.
- The cadastral value of the property must be at least €80.000.
- The property can not include agricultural land or forest land.
However, some additional requirements depending on where you buy your property. For example, if you purchase real estate in Riga, you can buy only one property. If you purchase your property elsewhere, you may split your minimum investment into two immovable properties.
Golden Visa by bank deposit through a financial institution
Another option to be eligible for Latvia’s Golden Visa is to deposit a minimum amount of €280,000 at a Latvian bank— you’re required to hold this investment for five years. Additionally, you must pay a government fee of €25,000 if you choose this investment route.
Golden Visa by Government stocks investment
The final option for a Latvia Golden visa is to purchase government bonds at a minimum price of €250,000. After five years of holding your investment, you get back the amount you paid if you withdraw your purchase. However, this investment option has an additional state fee of €38,000.
Benefits of the Latvia Golden Visa
The benefits of the Latvia golden visa are:
- You can enjoy a dynamic economy.
- You can enjoy a fantastic place to live.
- You can travel to other Schengen territories without a visa.
- You do not need to be present in Latvia unless you apply for permanent residence.
- You can get a temporary residence permit for five years.
- As a Latvian resident, you will be liable for PIT (personal income tax).
How to Apply for a Latvia Golden Visa?
To apply for a Latvia golden visa, you must:
- Choose what type of investment you want to make for the visa.
- Pay the fee required for the State budget as required by your purchase.
- Finalize your investment in the country
- Apply for a temporary residence permit.
- Submit the required documents.
- Retrieve your permit.
Usually, in this case, you may need to consult a financial advisor to help you choose the best investment for you and help you submit a successful application.
Path to Permanent Residence in Latvia
You can apply for a Latvia permanent residence permit if you have lived in Latvia for at least five years. You must know the Latvian language, the general Latvian history, and the national anthem for the application process.
Path to Latvian Citizenship
You are eligible to apply for Latvian citizenship after you have lived in Latvia for at least ten years. You will be required to submit proof of your Latvian language knowledge and general history knowledge before you can acquire citizenship.