May 26, 2025

Latvia Golden Visa: Comprehensive Guide 2025

The Latvia Golden Visa, officially known as the Latvia Investor Visa, offers an accessible and strategic pathway into the European Union for non-EU nationals. As part of the EU and located at the crossroads of Eastern and Western Europe, Latvia combines rich cultural heritage, scenic beauty, and geographic advantage—bordering Estonia, Lithuania, Russia, Belarus, and the Baltic Sea.

Launched in 2010, Latvia Golden Visa program allows investors and their families to obtain temporary residence through a range of qualifying investment options. With relatively low entry thresholds, a streamlined application process, and strong connectivity to the broader European market, Latvia stands out as a compelling choice for investors seeking both lifestyle benefits and business opportunities within the EU.

In this article, we provide a comprehensive guide to the Latvia Golden Visa, highlighting the investment routes, benefits, eligibility criteria, required documents, and the entire process.

Table of Contents

A Concise Overview of Latvia’s Golden Visa

Latvia Golden Visa offers individuals and investors a variety of affordable investment choices to obtain a residency permit in the country.
Latvia Residency by Investment Program is one of the fastest and most competitive programs in Europe, where the processing time for each application is 3 to 5 months from the application date.
Applicants do not require a minimum number of days of physical presence in Latvia, however, they have to visit the country annually and confirm that they hold their investments to renew the Latvia Golden Visa permit.
It gives its holders the ability to enter the Schengen area without a visa.
Latvia passport holders can benefit from global mobility with visa-free access to 183 countries, including the Schengen zone.

What is a Latvian Golden Visa?

The Latvia Golden Visa program, officially known as the Latvia Investor Visa, started operating on July 1, 2010, after modifying its immigration law. The program’s main purpose is to attract foreign investors and boost economic growth following the 2008 global financial crisis.

The Office of Citizenship and Migration Affairs (OCMA) is the single authority that grants Latvian citizenship and manages the Residency by Investment (RBI) program. This office decides the eligibility criteria while releasing official guidelines and conducting all applicant evaluations through its official website.

To reside[1] in Latvia for a definite period, or permanently, a temporary residence permit or a permanent residence permit is required. Foreign nationals can obtain Latvia Golden Visa through four investment methods:

Investing in the equity capital of a Latvian company
Placing a subordinated deposit in a Latvian bank
Purchasing special-purpose interest-free government bonds.
Acquiring a property in Latvia within the concept of the Latvia Golden visa, and paying government fees.

The applicant can include his family members, such as spouse and children under 18 years, in the residence permit application. The investor needs to visit Latvia personally within three months after the Office of Citizenship and Migration Affairs of the Republic of Latvia approves their application to obtain their temporary residence permit through an ID card. The residence permit remains valid for five years, while the ID card needs annual renewal for continued validity. There isn’t a minimum number of days of physical presence in Latvia required to maintain the residence permit.

The Latvia Golden Visa program provides faster processing times than other EU Golden Visas. The application process takes between 3 to 5 months starting from the application date.

Latvia Golden Visa Permits Statistics

Valid Residence Permits[2] (as of 31 December)

First time Residence Permits Issued

Major Benefits of Latvia Golden Visa

Latvia Golden Visa serves as a strategic investment for those who wish to take advantage of its multiple offerings, stated below:

Access to the Schengen zone

Latvia is an EU member country and part of the Schengen zone, offering easy access to Europe.

Fast and Straightforward Path to Obtain Residency

The process of obtaining Latvia’s Golden Visa is considered the fastest route compared to other EU Golden Visas. It typically takes 1 to 3 months after submitting the application. However, this processing time applies only to residence permits, not to citizenship.

Rights to Live, Work, and Study in European Countries

Within the framework of the Latvia Golden Visa Program, applicants can obtain European residency. Therefore, they can stay, live, and work in any EU country without a residence permit. Investors can also establish their businesses in the EU more quickly than non-EU citizens, leveraging the tax agreements with many countries. Applicants can enjoy the high quality of life, world-class healthcare, educational services, and social security.

Family Inclusion

The Latvian Golden Visa program allows family members, such as spouses and children under 18 years of age, to join the main applicant. The entire family can leverage residency rights in Latvia, which include healthcare benefits, educational opportunities, and visa-free travel within the Schengen Area. Latvia’s capital, Riga, holds UNESCO World Heritage status and offers families beautiful natural scenery, social facilities, and investment opportunities.

Affordable Cost of Living

Latvia stands out as an affordable EU residency option. The estimated monthly costs[3] for a family of four are $3,054.6 (€2,729), excluding rent, and for a single person, $900 (€810). Cost of living, including rent, in Latvia is 29.3% lower than in France[4].

No Minimum Stay Required

One of the attractive features of Latvia’s RBI program is that it does not require any minimum stay to keep or renew residence permits. The program allows investors and their family members to maintain residence permits without needing to live in Latvia or meet annual stay requirements. The program’s flexibility is appealing to global citizens, entrepreneurs, and frequent travelers who maintain business or personal interests across different countries.

Applying for Citizenship After 10 Years

The main benefit of getting a Latvian Golden Visa is the opportunity to get full citizenship. After 10 years of continuous legal residence in Latvia, foreign nationals become eligible to apply for Latvian citizenship, subject to fulfilling certain conditions. Applicants must pass the basic Latvian language test at Level A2. They should also possess a proven knowledge of Latvia’s general history and its national anthem.

Visa-free access to 183 countries

In today’s increasingly uncertain world, global mobility has become more important than ever, offering individuals and families security, freedom, and access to global opportunities. Holding a Latvian passport, which is ranked 9th globally, unlocks visa-free or visa-on-arrival access to 183 countries, including the entire Schengen Area, the UK, and many key destinations in Asia and the Americas. Moreover, Citizens of Latvia[1] or Visa Waiver Program (VWP) countries may apply for traveling to the United States without a visa if they plan a short-term leisure or business trip. Latvian passport holders require an Electronic Travel Authority (ETA) to enter the United States. This makes it appealing for international business people, digital nomads, families, and retirees.

Latvia: Global Openness and International Integration

Latvia is a member of the European Union and the Eurozone, which ensures free movement of goods, services, capital, and labor[6]. Latvia is also a full member of all the world’s largest economic and political organizations, including the North Atlantic Treaty Alliance (NATO), the World Trade Organization (WTO), and the Organization for Economic Cooperation and Development (OECD). This makes it appealing for international investors

Quality Living Environment

Low cost of living, low noise level, convenient and accessible public transport, clean city, low crime rate, and a pleasant climate make Latvia an appealing destination for families. There are also many green areas with opportunities for walking, cycling, and water recreation.

Developed Business Infrastructure

Riga Airport offers direct flights to more than 100 destinations in Europe, Asia, Africa, and America. As a multimodal transport hub, the Port of Riga provides connections with ports in 50 countries. In addition, the future high-speed railway line Rail Baltica will provide fast cargo transit between the Port of Riga, the capitals of the Baltic states, and several European destinations, including the North Sea and the Adriatic Sea.

Riga – the Center of Start-ups

Latvia has emerged as a Start-up center[7] with many opportunities for testing ideas, developing businesses, and networking activities. It was the first of the Baltic States to adopt a special startup law, which provides support for such companies, including special tax rates and a support program for attracting highly qualified workers.

Eligibility Criteria

Foreign investors must meet specific criteria to apply for the Latvia Golden Visa by investment. An applicant should be:

At least 18 years old
Be a citizen of a country outside the EU, EEA, and Switzerland
Have no criminal record
In good health
Make a qualified investment as defined by the program
Demonstrate financial stability
Hold valid health insurance for himself and any dependents
Have no outstanding tax liabilities worldwide

It is worth noting that Russians have historically made up more than half of all Latvia Golden Visa applicants, but as of 2022 the programs nationals of Russia and Belarus became ineligible to apply for the program.

Family Members

Applicants can include their family members when applying for the Latvia investor visa, such as:

The spouse

Dependent children who are 18 and below

Investment Options

Latvia’s RBI program provides four investment options to acquire the Golden Visa.

Option 1: Real Estate Investment

The most popular option to obtain Latvia Golden Visa is through purchasing a real estate property in the Latvian market. Applicants are required to invest a minimum of €250,000 in a real estate property, while holding it for at least five years. Investors are also required to pay a one-time government fee equivalent to 5 percent of the purchase price.

Option 2: Business Investment

Investing in a business is one of the most cost-effective ways to obtain residency in Europe through Latvia’s program. There are two available options based on the size of the company:

Invest at least €50,000 in a Latvian company that has fewer than 50 employees and an annual turnover below €10,000,000.
Invest at least €100,000 in a company with more than 50 employees and an annual turnover exceeding €10,000,000.

In both cases, an additional government fee of €10,000 is required.

Option 3: Government Bonds

Applicants can obtain a Latvian Golden Visa by making an investment of at least €250,000 in Latvian government bonds. The bonds are retained by the investor, which means that at the end of the mandatory five-year holding period, he can get back what he paid. However, a state fee of €38,000 must be paid during the application process.

Option 4: Bank Deposit

To acquire Latvia’s Golden Visa, investors have the option to make a fixed-term deposit of €280,000 in a Latvian bank for five years with no withdrawals allowed during this period. The application requires an additional state fee of €25,000.

Latvia Golden Visa Fees

The costs and fees associated with the investment differ according to the investment option. Below is a comparison table:

Investment Options	Minimum Investment	Additional Fees	Total Investment Cost
Real estate investment	€250,000	5% of investment (€12,500)	€262,500
Business Investment A	€50,000	€10,000 government fee	€60,500
Business Investment B	€100,000	€10,000 government fee	€110,000
Bank Deposit Transfer	€280,000 (5-year fixed deposit)	€25,000	€305,000
Government Bonds Purchase	€250,000	€38,000 state fee	€288,000

In addition to the investment, applicants are required to pay application fees, as well as legal representation and due diligence fees. Application fees are:

Standard (within 30 days)	€160 per person
Accelerated (within 10 working days)	€280 per person
Urgent (within 5 working days)	€560 per person
Consular Service Charge (applicable If the application is submitted through an embassy or consular mission abroad	€140 (approx.) per person

Latvia Investor Visa Requirements

Latvia’s Gold Visa requires applicants to meet certain criteria to obtain a residency permit.

Minimum Stay Requirements

Golden Visa programs usually require investors to stay within the country for a specific period of time to keep their residency status. However, the Latvian Golden Visa program does not mandate any minimum stay requirement for its residents. However, applicants must visit Latvia at least once per year to renew their temporary residence permit.

Due Diligence

The Office of Citizenship and Migration Affairs of Latvia performs a thorough financial background check on each applicant to ensure complete due diligence. The program maintains its reputation through this process while preventing money laundering activities.

Document Required

Below is a list of the required documents for the Latvia Investor Visa:

Passport copy.
Utility bill proving the address not older than 3 months.
Filled KYC/AML forms.
2 passport sized photos.
CV.
Documents proving the source of the invested funds (salary slips, tax statements, commission payments proof documents, sold real estate or any similar documentation).
Clean criminal record (police clearance certificate) apostilled.
Bank statement proving sufficient funds to reside in Latvia minimum of 8880.00 EUR (eight thousand eight hundred eighty euros) on the bank account balance – official bank statement stamped and signed by the bank’s official.

In case the applicant decides to bring family, for spouse must submit an apostilled marriage certificate, an apostilled police clearance certificate, and a CV, and for each child, apostilled birth certificate.

In addition to the family bank statement of sufficient funds 8880.00 EUR (eight thousand eight hundred eighty euros) for the spouse and 2664.00 EUR (two thousand six hundred sixty-four euros for each child.

For all children 14 years or older, apostilled police clearances must be submitted.

Steps and Timeline

Applying to Latvia’s Golden Visa program is considered straightforward and fast. Within three to five months, applicants and their family members can obtain a residency permit in Latvia and enjoy its myriad benefits. This includes choosing and signing a service agreement with a trusted agent, who will provide advice and prepare documents and government forms.

Step 1: Prequalification of the primary applicant

Prior to applying to the program, investors must confirm that they fully meet the eligibility requirements, including maintaining a clean criminal record, being in good health, and demonstrating sufficient financial capacity to make the required investment.

Step 2: Signing a Service Agreement with a Trusted Agreement

Applicants seeking to invest in Latvia’s Golden Visa are required to enter into a service agreement with a trusted agent to guide them through the process. These professionals have the expertise and knowledge to navigate complex legal and regulatory requirements, ensuring that applicants comply with all necessary procedures.

Step 3: Selecting the Suitable Investment Option

At this stage, the client explores the available investment options and selects the one that best aligns his goals. Advisors can provide valuable insights into the various investment options.

Step 4: Due diligence and Background Check

The financial institution in Latvia conducts due diligence, and clearance is given to invest in either the real estate option or the business option.

Step 5: Making the Qualified Investment

After choosing the investment option, a qualifying investment is made by the applicant from the approved options.

Step 6: Preparation of Documents and Government Forms

The advisors assist the applicant in the preparation of documents and government forms. They help him in completing the required application forms and collecting all the necessary supporting documents in the correct format.

Step 7: Attending a Biometric Appointment

After preparing all necessary documents, applicants can move forward with submitting their application for the Latvia Golden Visa. An appointment is made for the applicant to submit the application in person at a Latvian diplomatic mission abroad or the immigration department in Latvia. The OCMA is responsible for analyzing the documents and examining the application before issuing a temporary visa if all requirements are met.

Step 8: Receiving Approval and Paying Fees

Applicants receive approval for their application from the Latvian government. At this stage, they are required to pay the applicable state fees.

Step 9: Travel to Latvia to submit biometrics

At this stage, applicants must travel to Latvia to attend a biometric appointment after obtaining this visa.

Step 10: Receive your Latvian Temporary Residence Permit (TRP)

After finishing this requirement, applicants will obtain their Latvian Temporary Residence Permit, which has a validity period of up to five years.

Frequently Asked Questions About the Latvia Investor Visa

What is the Latvia Golden Visa Program?

The Latvia Residence by Investment Program (TRP) allows individuals and their families to obtain residency by making significant financial contribution to the country.

What investment options are available under the Latvia Residence by Investment Program?

Applicants can either invest in the equity capital of a Latvian company and pay a one-time state contribution or purchase real estate in Latvia along with a state fee. They can also purchase government bonds or make a bank deposit. However, they must prove they have enough financial resources to support themselves independently, without relying on public assistance.

Can I obtain residency by purchasing property in Latvia?

Yes, you can gain residency in Latvia by investing in real estate under the Latvia Golden Visa program.

Is Latvia part of the Schengen Zone?

Yes, Latvia is a member of the Schengen Area, which makes its residency by investment program ideal for individuals seeking enhanced global mobility.

What is the minimum investment required for the Latvia Residence by Investment Program?

The minimum required investment is €50,000 into the share capital of a Latvian company, along with a one-time €10,000 contribution to the state budget.

How long does it take to process an application for the Latvia Residence by Investment Program?

Processing time required for obtaining Latvia’s Golden Visa is estimated to be around 3 months, however, the time required may differ depending on the application details.

Can family members be included in the Latvia Residence by Investment application?

Yes, applicants may include their spouse and dependent children under the age of 18 in their application.

What are the residence requirements for the Latvia Residence by Investment Program?

There is no minimum stay requirement to maintain the temporary residency permit; however, applicants must travel to Latvia once a year to renew their residence status and demonstrate continued ownership of their investment.

What documents are needed for the Latvia Residence by Investment application?

The application requires a valid passport, evidence of the investment or contribution, a clean criminal background check, and additional supporting documents.

What are the benefits of obtaining Latvian residence through investment?

Key benefits include the right to live, work, and study in Latvia, visa-free access to the Schengen Area, and a fast and straightforward application process.

Is it possible to obtain Latvian citizenship through the Residence by Investment Program?

Yes, investors who have legally resided in Latvia for ten years may become eligible to apply for Latvian citizenship.

Is a language test required?

No, it is not required for the residency program. However, it is only required for permanent residency and citizenship applications

What is the process for applying to the Latvia Residence by Investment Program?

Applicants need to select a qualifying investment, submit their application along with the required documents, and complete a due diligence check. Once approved, the investor must visit Latvia within three months to receive their temporary residence permit ID card.

How long is the residency permit valid for?

It is valid for 5 years; however, the residence card must be renewed annually in Latvia.

Can I apply for Permanent Residency (PR) after 5 years?

Yes, after holding TRP for 5 years and meeting stay requirements (8 months per year during 4 out of 5 years), PR can be granted.

Can I apply for Latvian citizenship?

Yes, after 10 years of residency (5 TRP + 5 PR), language exam, history, anthem, constitutional knowledge tests, and proving of financial sufficiency.

Is English widely spoken in Latvia?

While Latvian is the official language, English is commonly spoken, particularly in tourist areas, making Latvia an attractive destination for expats from the UK, the US, and other English-speaking countries.

Does Latvia allow dual citizenship?

Yes, but only with countries that Latvia recognizes for dual nationality: EU/EFTA members, NATO countries, Australia, Brazil, or New Zealand.

Can I retire in Latvia?

The residency by investment program of Latvia welcomes retirees. The US and international retirees can find security and comfort in Latvia because of its affordable cost of living and high quality of life.