Latvia Golden Visa

What Is Latvia’s Golden Visa Program?

Started in 2010, the Latvia Golden Visa is a program designed to attract foreign investment and support the country’s economic development. It allows non-EU, non-EEA, and non-Swiss nationals to obtain a temporary residence permit by making a qualifying investment in Latvia.

The Latvia Golden Visa program also provides investors the right to reside in Latvia and travel visa-free across the Schengen Area. The initial residence permit is issued for a period of five years and can be renewed, if the investment is maintained and program conditions are met. Over time, this visa may also serve as a pathway toward obtaining permanent residency or Latvian citizenship.

Latvia Golden Visa Eligibility (& Requirements)

Applicants applying for the Latvia Golden Visa must meet the following eligibility conditions:

• Must be a non-EU, non-EEA, and non-Swiss national.
• Age above 18 years with a clean criminal record.
• Must be willing to make a qualifying investment in Latvia.

In addition to meeting the eligibility criteria, applicants also require:

• A valid passport.
• Proof of a legal source of funds.
• An approved investment under the Latvia Golden Visa program.
• Investment for the validity period of the residence permit.
• Supporting documents as per Latvian immigration regulations.

Benefits of Latvia Residency by Investment

Latvia’s Residency by Investment program offers several advantages for investors planning a long-term move to Europe.

Key benefits include:

• Visa-free travel across the Schengen Area.
• No Residency Requirement.
• The right to live,study and work in Latvia.
• Option to include spouse and dependent children under one application.
• Multiple Investment Options.
• A stable EU residence permit with renewable validity.
• A potential pathway toward permanent residency and Latvian citizenship.
• Low Entry Threshold: Business investment starts at €50,000 + €10,000 state fee.

These benefits make the Latvia Golden Visa a much preferred option for individuals looking to move to Europe via a regulated investment route.

Latvia Golden Visa Investment Options

Latvia offers a wide range of investment options under its Latvia residency by investment program, starting at low price points for applicants to choose from. Investors are given the flexibility to select an option that aligns with their financial capacity and long-term plans.

The available investment routes include:

Real Estate investment

Minimum investment: €250,000

The amount invested changes depending on the location chosen. The property must be legally registered, free from legal issues and held for a required period in order to maintain residency status.

Business Investment Option

Minimum investment:  €50,000 + €10,000 in state contribution

Investing in a Latvian company is another option to qualify for the Latvia Golden Visa. The business should be actively operating and comply with Latvian regulations. It should also contribute to the local economy through employment or other business activities.

Bank Deposit / Bonds (subject to availability and regulatory approval)

Minimum investment: Varies based on selected product.

Investing in a fixed-term deposit or in approved Latvian financial instruments like government bonds can also qualify as an approved investment. The funds should remain invested for the duration specified under the Latvia Golden Visa program.

Latvia Golden Visa for Family & Dependents

The option to include family members as part of the residence application is a feature of the Latvia Golden Visa program. This allows families to relocate and reside together in Latvia under a single investment based residence permit.

Eligible family members include:

• Spouse
• Children
• Dependent parents may be considered only in exceptional cases, such as:
  1. Proven financial dependency.
  2. Medical or humanitarian grounds.
  3. Case-by-case approval by Latvian authorities.

Family members included in the application are given residence permits with the same validity period as the main applicant. Dependents are also permitted to live in Latvia and access local services in accordance with Latvian regulations.

Step-by-Step Latvia Golden Visa Application Process

The Latvia Golden Visa application process consists of well-structured steps that must be completed as per Latvian immigration regulations. Each step must be completed carefully to ensure the application remains valid.

Step 1: Select and Complete a Qualifying Investment

• Applicants can choose from several approved investment options to complete this step.
•  The investment must meet minimum value and program conditions to be eligible.
• After completing the investment, all supporting documents confirming the investment should be obtained.
• This investment is then to be held for the validity period of the residence permit.

Step 2: Prepare Required Documents

All required documents should be gathered. These include:

• A valid passport.
• Proof of legal source of funds.
• Criminal record clearance.
• Documents related to completed investment.

Step 3 : Submit the Residence Application

Applicants can submit the application along with all supporting documents in person or through an authorized legal representative.

Step 4: Application Review and Decision

Your application and supporting documents are reviewed by Latvian immigration officials. Additional documents may be requested during this stage if required.

Step 5: Receive the Residence Permit

Applicants are issued a temporary residence permit under the Latvia Golden Visa program after approval. This permit remains valid for the entirety of the period where the investment is maintained and program conditions are met.

Latvia Golden Visa Processing Time & Validity

• Processing time for the Latvia Golden Visa depends on the completeness of documents, investment verification and review by the Latvian immigration authorities.
• Typically, these take around 2-4 months from the date of submission.
• After approval, applicants are issued a temporary residence permit under the program.
• The residence permit stays valid as long the investor maintains the qualifying investment alongside meeting all other program conditions.
• The permit is also renewable, subject to compliance to Latvian immigration regulations.

Latvia Golden Visa Cost & Fees

Latvia Golden Visa fees vary according to the type of investment chosen by the applicant. These include state fees as well as application fees.

When considering Latvia’s Golden Visa options, it is essential to compare the costs associated with each investment route. Here is a comparison table showing the same.

Investment Option	Minimum Investment	Additional Fees	Total Minimum Cost
Real Estate Investment	€250,000	5% of investment	€262,500
Business Investment A	€50,000	€10,000 government fee	€60,000
Business Investment B	€100,000	€10,000 government fee	€110,000

Fee for the visa is available in three processing options:

1. Standard: 30 days -€160.
2. Accelerated: 10 days-€280.
3. Urgent: 5 days- €560.