Latvia offers a Golden Visa program that allows investors to enjoy residency within the country and eventually obtain citizenship.
There are plenty of benefits to signing up for the Latvian Golden Visa program. Let’s take a look at some of these benefits.
- 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.
- You receive access to the European Schengen Zone.
- The program covers family members at no additional costs.
- There are no requirements with regard to minimum residency that apply to you, the investor, or your family.
Once you qualify for citizenship, there are a host of other benefits that you can enjoy as well. This includes:
- The ability to move freely within the EU. Since Latvia is a member state of the EU, Latvian citizens have the freedom to work and reside throughout the EU, in countries such as Spain, Sweden, Italy, Netherlands, Germany, and France.
- 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.
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.
There are 3 investment options offered as part of the Latvian Golden Visa program.
- Term Deposit: You are required to invest EUR 280,000 as a subsidiary deposit. The deposit term is 5 years. There is also a one-time fee of EUR 25,000.
- Investment in Real Estate: You are required to make a real estate purchase in Latvia. The value of the purchase must be EUR 250,000 (minimum). The cadastral value of the purchase (on the exact date of purchase) must be a minimum of EUR 80,000. (starting from 2015 the base of cadastral value is updated and approved by the Cabinet of Ministers every two years)
- Business Establishment: You are required to make an investment of EUR 50,000 into a Latvian business, along with a one-time fee of EUR 10,000. However, to maintain your residence card, the business will have to pay a minimum of EUR 40,000 per year in corporate taxes. The business must not employ more than 50 workers and generate a turnover of not more than EUR 10,000,000.
Make Latvia your second home
GDP nominal (per capita)
GDP (purchasing power parity)
Heavy industries, petrochemicals, metal working, and machine building.
- Strong and stable economy
- Multiple financial opportunities
- Great health care and education system
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