Latvia

Latvia offers a Golden Visa program that allows investors to enjoy residency within the country and eventually obtain citizenship.

For individuals seeking to secure citizenship through investment, it’s important to note that Latvia does not offer a dedicated citizenship-by-investment program. However, there exists a viable pathway to residency through investment in Latvia, followed by the pursuit of citizenship through conventional channels, such as naturalization. As a seasoned immigration attorney, I will guide you through the intricate process, providing comprehensive information on attaining your desired citizenship and the essential formalities to observe

There are plenty of benefits to signing up for the Latvian Golden Visa program. Let’s take a look at some of these benefits.

• Explore the Entire Schengen Zone: Latvian residency provides unrestricted access to the entire Schengen area within Europe.
• Extended Residency Stability: Unlike some countries that initially grant only two-year residencies, requiring subsequent extensions, Latvia offers the assurance of continuous residency for a period of five years. You won’t face the worry of residency denials during this duration, although you will need to renew your visa in Latvia.
• Include Your Entire Family: Your application allows for the inclusion of dependent children, your spouse, and even your parents and grandparents (if they are financially dependent on you).
• Swift Processing: Latvia boasts one of the fastest routes to Europe’s Schengen zone, with a processing time typically ranging from one to three months for residency applications. 
• No Physical Residency Requirement: You have the flexibility to come and go as you please; there’s no mandatory requirement to reside in Latvia. However, it’s advisable to visit Latvia annually to maintain your residency permit.
• Exceptional Connectivity: Latvia enjoys excellent connectivity, with just a 90-minute flight from Moscow and numerous flight connections to major European hubs.
• Favorable Tax Environment: Latvia offers an attractive corporate tax rate of 9% and a government that welcomes foreign investment and new business ventures.
• Eurozone Membership: Being part of the Eurozone brings various advantages, including savings in time and money. There are no foreign exchange fees, and you don’t need to search for the most competitive exchange rates.
• High Quality of Life: Latvia offers a high quality of life, combining affordability with European standards, making it an appealing choice for investment and residency.

•    You can reside in the country for a period of 5 years and qualify for permanent residency and citizenship. 
•    The investment required is fairly low when compared to many other such programs.
•    The program covers family members at no additional costs.
•  The Latvian passport is one of the more powerful passports to possess. The Latvian passport allows visa-free entry into over 100 countries in Western Europe, Eurasia, Australasia, US, and Canada.

•    The opportunity to enjoy a high standard of living. Once you become a citizen, you have the opportunity to reside in Latvia or live anywhere in the EU. Irrespective of what you choose, a high standard of living is guaranteed.

• The primary applicant must be 18 years of age or older.
• Dependent Eligibility: Dependents, including minor children, spouses, parents, and financially dependent children, are eligible to apply for a Latvia residence permit alongside the primary applicant.
• Application Approval: The applicant’s residency application must be approved at the Office of Citizenship and Migration Affairs of the Republic of Latvia.
• Visit to Latvia: Upon approval, the investor must visit Latvia within three months to collect their temporary residence permit, which is issued in the form of an ID card.

According to current investment immigration regulations, you are required to submit proof of the investment to the relevant agencies/authorities from the Latvian government. 

There are 3 investment options and your documentation must be relevant to the type of investment you choose. 

The documentation, along with the visa application, should be submitted to the Office of Citizenship and Migration Affairs (OCMA). 

The only other requirements are that you have a clean criminal record and be over the age of 18.

See here the investment options for a residence:

1. If a foreign investor is considering obtaining Latvian residency through investment, it’s important to note certain restrictions. Purchasing agricultural land, forests, or wood, as well as making cash payments, are not allowed. However, the investor is permitted to acquire one or two properties, depending on the location, with a minimum investment of EUR 250,000.
2. An alternative option is to invest EUR 50,000 in the equity capital of a Latvian company, generating an annual tax payment of at least EUR 40,000. In this case, the investor is required to contribute EUR 10,000 to the state budget, resulting in immediate five-year residency. This residency period can be extended after the initial five years, and a biometric ID card is issued, renewable on an annual basis.
3. Additionally, Latvian citizenship can be obtained by purchasing interest-free state securities with a nominal value of EUR 250,000, necessitating a payment of approximately EUR 38,000 to the state budget. This investment grants a five-year residence, extendable as well, along with a biometric ID card valid for five years.

FAQs

• Is Latvia a Schengen country?yes

  What is the permit issued for government bonds or real estate?

  Temporary residence permit TUI valid for 5 years.

  How many years to naturalize for citizenship?

  Ten years. You must speak latvian language, no criminal record and fully integrate to culture

Make Latvia your second home 

Visa-Free Countries

1,907,675
POPULATION
$30,579
GDP nominal (per capita)
$63.490 billion
GDP (purchasing power parity)

CAPITAL CITY
Riga
TIME ZONE
EET (UTC+2)
TOTAL AREA
64,589 km2
LANGUAGES
Latvian
CURRENCY
Euro €
MAIN INDUSTRY
Heavy industries, petrochemicals, metal working, and machine building.
SCHENGEN/ EU
Member

KEY ADVANTAGES

• Strong and stable economy
• Multiple financial opportunities
• Great health care and education system

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Disclaimer
The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.