The Ultimate Guide to the Latvia Golden Visa

The Latvia Golden Visa program offers one of the fastest routes to European residency.

The residency by investment (RBI) scheme lets you live, work and study in Latvia. It also allows you to travel freely within the Schengen area.

In this guide, we will cover everything you need to know about the Latvia Golden Visa. We will explore the benefits, investment options and costs, as well as other key information about the program.

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What is the Latvia Golden Visa?

The Latvian Golden Visa is a residency-by-investment (RBI) program. The country’s government introduced the scheme in 2010 to attract foreign investors and boost Latvia’s economy.

The scheme allows non-EU nationals to secure a residence permit in exchange for making a qualifying investment in the country. You can live, work and study in Latvia with a golden visa. You can also travel freely within the Schengen area.

The Latvia residency by investment program offers one of the fastest routes to becoming an EU resident. It is also one of the most cost-effective residency schemes in Europe.

The Benefits of the Latvia Golden Visa Program

The Latvia Golden Visa program offers several key benefits for investors. These include:

Processing Time

The processing time separates Latvia’s visa scheme from others in the market. Unlike other golden visas, which can take months or even years, the processing time for the Latvia Golden Visa scheme is between 30 and 90 days.

Travel Access

Securing a golden visa in Latvia makes travel across Europe more accessible. Enjoy visa-free travel to other countries in the Schengen Zone. The Latvian Golden Visa also makes securing a travel visa to countries such as the United States more straightforward.

Low Stay Requirements

Unlike other residency programs, you do not need to live in Latvia full-time. You only need to visit the country one day per year to maintain your Latvian residence permit. However, you must live in the country for four out of the five years to become a permanent resident or citizen.

Family Inclusion

Your spouse and dependent children can secure residence in the country. Additional fees apply when adding family members to your application.

Path to EU Citizenship

The Latvia Golden Visa grants a temporary residence permit. After five years, you can apply for permanent residency. Citizenship is possible after ten years.

Those wanting to secure EU citizenship faster should look at other RBI programs, such as the Portugal Golden Visa.

Multiple Routes to Residency

Latvia’s residency by investment scheme offers multiple options for investors. The minimum investment amount starts at €50,000, making it one of Europe’s most cost-effective golden visas.

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Requirements for the Latvian Golden Visa

You must meet some basic requirements to qualify for the Latvia Golden Visa. These include:

  • Be a non-EU, non-EEA, and non-Swiss citizen
  • Have a clean criminal record
  • Make an eligible investment
  • Show proof of financial stability
  • Have valid health insurance for you and any dependents added to your application

Read our Latvia Golden Visa requirements article to learn more.

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Latvia Golden Visa: Investment Options and Costs

To secure a Latvian Golden Visa, you need to make one of the following investments:

Business Investment

  • Invest at least €50,000 – €100,000 in a Latvian company (depending on the size of the company)
  • Pay a €10,000 state fee

Real Estate Investment

  • Invest at least €250,000 in Latvian real estate
  • Pay an additional 5% state fee on the property value

Bank Deposit or Government Bonds

  • Make a €280,000 deposit in a Latvian bank for five years, plus a €25,000 state fee
  • Buy at least €250,000 of Latvian government bonds, plus a €38,000 state fee

Read our complete guide to the Latvia Golden Visa investment options and costs to learn more.

1000+

Families helped to gain citizenship/residency

$300 million

Amount we have invested in CBI programmes

$450 million

Value of property assets purchased in the last three years

40+

Client nationalities we have helped secure a golden visa

The Latvian Golden Visa Process

Applying for a golden visa in Latvia can be daunting if you don’t have experience. Working with experienced professionals can help you avoid any pitfalls.

Here is a step-by-step breakdown of the Latvia Golden Visa application process:

Step 1: Choose your investment option and pay the minimum investment amount.

Step 2: Gather necessary paperwork, including passport copies, proof of funds and investment agreements. You must send your documents to the Office of Citizenship and Migration Affairs in the Republic of Latvia for review.

Step 3: Authorities verify your criminal record, financial history and other information.

Step 4: If everything is in order, you must attend a biometrics appointment. After this, you will receive your residency permit within 30-90 days.

Step 5: Visit Latvia once per year to re-register your temporary residence permit.

Step 6: Apply for permanent residency after five years. To apply, you must spend four out of five years living in Latvia. This means living in the country for 183 days per year.

Step 7: Apply to become a citizen in Latvia after 10 years. To apply, you must:

  • Have lived in the country for the last 10 years
  • Be proficient in the Latvian language
  • Know the country’s national anthem

The entire process can take between 30 and 90 days on average. Timeframes can vary depending on several factors, such as backlogs. Once approved, you must renew your residency permit every five years.

You can track your Latvia Golden Visa application with Holborn using our app. The app allows you to view all the steps, what stage your application is currently at, and what will happen next.

Stay up-to-date with your application. Download the Holborn Assets App via the App Store for iOS or Google Play for Android.

Documents Required for the Latvia Golden Visa Application

To apply for the Latvia residency by investment scheme, you will need to provide the following documents:

  • Valid passport: a copy of your passport with at least six months of validity.
  • Proof of investment: documents showing that you have made a qualifying investment.
  • Proof of funds: this is to show that the funds used to invest in the Latvia Golden Visa are from a legitimate source.
  • Proof of financial stability: bank statements or financial records showing you can financially support yourself.
  • Criminal record certificate: a certificate or document that shows you have a clean criminal record in your home country or one you have lived in for over six months in the previous five years.
  • Health insurance: valid health insurance with at least one year of coverage.
  • Application form: this is the main application form you complete for your Latvian Golden Visa.
  • Payment receipts: these are to show you have paid state fees.

Additional documents are also required for family members added to your application. You will also need to show that you can financially support any dependents.

Maintaining and Renewing Your Latvia Golden Visa

To keep your residency status active, you must:

  • Maintain your investment for at least five years
  • Renew your residency permit every five years — re-register your temporary residence permit once per year
  • Ensure compliance with Latvian tax and legal obligations

After five years, you can apply for permanent residency. After 10 years, you can apply for Latvian citizenship if you meet the requirements.

Summary

The Latvia Golden Visa is an excellent option for investors seeking fast European residency. The scheme is open to non-EU investors and their families and provides several benefits.

Summary of key points:

  • The Latvia Golden Visa program offers one of the fastest routes to EU residency
  • Low-cost investment options compared to other European RBI schemes
  • Low minimum stay requirements

If you are ready to take the next step, get the expert advice you need to navigate the process successfully.

Holborn Pass is a leader in investor visas. We have worked with investors from around the globe to help them and their families secure their golden visas.

Start your journey to European residency today. Speak to one of our professional advisers to learn how we can help you.

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Frequently asked questions

Investors can qualify through one of the following routes:

  • A €50,000 – €100,000 investment in a Latvian company plus a €10,000 state fee
  • A €250,000 investment in government bonds
  • A €250,000 investment in real estate
  • A €280,000 deposit in a Latvian bank, plus a €25,000 state fee

The initial permit is valid for five years. However, you must renew your permit annually.

You can include family members, such as your spouse and dependent children. Be aware that additional fees apply when adding family members to your application.

Latvia does not offer citizenship by investment (CBI). You can apply to become a Latvian citizen after living in the country for 10 years. To become a citizen, you must meet additional requirements, including language proficiency.

No, there is no minimum stay requirement. However, you must visit Latvia once per year to renew your residence permit.

Yes. You can work and start a business in the country with a Latvian Golden Visa.

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