Residence Program Latvia
Latvia is situated in Northern Europe on the Baltic Sea, known for its rich heritage, incredible local cuisine, and a stunning mix of Art Nouveau and medieval architecture. The primary language is Latvian, though Russian is also widely spoken by much of the population.
Riga is the multicultural capital and largest city of Latvia. It is the political, economic, and cultural hub of this small yet proud nation. Today, more than a third of the country’s population lives and works in Riga. Latvia has been a member of the UN since 1991, and a member of the EU and NATO since 2004. In 2007, Latvia joined Europe’s Schengen Area, bringing significant benefits to the country’s residents and citizens.
The Latvia Residence-by-Investment Program is one of the most affordable and quickest residency options in Europe. Launched in July 2010 by the Latvian Government, foreign nationals may apply for residency in Latvia through the purchase of real estate, making an economic investment in a Latvian credit institution, investing in the equity capital of a venture, or purchasing interest-free government bonds.
To learn more about how to obtain a residence permit in Latvia, please contact us. Our impressive team of professional consultants has been carefully selected and works towards our company ethos: Focused on you – our Client.
Investment Options
Purchase of Real Estate
- Minimum value of real estate: €250,000
- Contribution to the state budget: 5% of real estate value
- Residence permit duration: 5 years, with annual registration
Investment in the Financial Sector
- Minimum investable amount: €280,000
- Contribution to the state budget: €25,000
- Residence permit duration: 5 years, with annual registration
Acquisition of Securities
- Nominal value of securities: €250,000
- Contribution to the state budget: €38,000
- Residence permit duration: 5 years, no annual registration required
Investment in Company Share Capital
- Investment amount: €50,000 or €100,000 depending on the company size
- Employees: Minimum 50 employees for the higher investment bracket
- Annual turnover: Minimum €10 million for the higher investment bracket
- Contribution to the state budget: €10,000
- Residence permit duration: 5 years, with annual registration
Employment-Based Residency
- Board Member Salary Tax Contribution: €13,000 annually
- Employee Salary Tax Contribution: €6,300 annually
- Residence permit duration: 5 years, with annual registration
European Union Blue Card (For Highly Qualified Professionals)
- Salary Tax Contribution: €9,550 annually
- Residence permit duration: 5 years, with annual registration
Representation of a Foreign Business
- Residence permit duration: 4 years, with annual registration
Latvia Golden Visa
Latvia’s residence by investment is an ideal solution for those wishing to relocate or travel within Europe visa-free.
Why Invest in Latvia’s Residence Program?
Launched in 2010 to attract foreign investors, this European Golden Visa program offers EU residency and citizenship through real estate investment. Although Latvia may not be the first country that comes to mind when selecting a residence destination, it is worth considering due to its unique identity, culture, traditions, and investment opportunities. Living in Latvia is affordable without compromising quality, and investing €250,000 in real estate will qualify you for a temporary residence permit. The application process typically takes 30 to 90 days.
Advantages of Latvia Golden Visa
- No requirement to live in Europe before applying for a residence permit.
- No interview or language proficiency requirement.
- One of the least expensive real-estate investments in Europe.
Requirements for Latvia Golden Visa
- Investment in Real Estate: €250,000 minimum.
- Government Fees: 5% of real estate value upon approval.
- Eligibility: The main applicant must be 18 years or older, with a clean criminal record and sufficient funds to support the family.
- Residence Permit Validity: 5 years with an annual renewal requirement.
Property Ownership
Latvia’s real estate market offers a wide range of properties to suit different tastes and budgets. This investment will not only provide a home in a beautiful country but also secure your future with permanent residency and the potential for a European passport.
Latvian Citizenship Requirements
To be eligible for Latvian citizenship and a European passport, you must live in Latvia for 10 years, 5 of which must be as a permanent resident. You must also pass the Latvian language exam, demonstrate knowledge of the country’s history, and understand the National Anthem.
Other Benefits of Latvia Residence Program
- Visa-free travel within the Schengen Area.
- No language or physical presence requirement for initial residency.
- Access to wide-ranging benefits, including education and healthcare.
- Path to permanent residency and naturalization with minimal language and physical presence requirements.
For more information on how to obtain a residence permit in Latvia, please contact us. Our outstanding team of professional consultants has been carefully selected and works towards our company ethos: Focused on you – our Client.
If you have further questions about the Residence Program Latvia or any other concerns, please contact us.