LATVIA

RESIDENCY BY INVESTMENT

The Latvia Residence by Investment Program or Golden Visa, introduced by the Government of the Republic of Latvia in 2010, offers foreign investors the opportunity to obtain residency through several options such as purchasing real estate, investing in a business, purchasing bonds, or investing in the subordinated capital of credit institutions. Latvia became a member of the European Union in 2004 and subsequently joined the Schengen Area in 2007.

CITIZENSHIP INVEST IS YOUR TRUSTED PARTNER
TO OBTAIN LATVIA RESIDENCY BY INVESTMENT

Citizenship Invest ensures the highest success rates through experience and a solid track-record with the different Governments. Every year, we help hundreds of individuals and families to acquire a second residency or citizenship by investment. Citizenship Invest successfully helped clients from over 85 countries around the globe. Most importantly, we have a long-term view of ‘client-advisor’ relationships and commit to our clients for life.

PROGRAM OVERVIEW

The legislation upon which the program is based is the Immigration Law Section 23, Paragraph one, Clause 28.

PROGRAM BENEFITS

SIMPLE PROCESS
Fast and Easy

Family is included in one application.

Residence permit is valid for 5 years and renewable. Permanent residency can be obtained after 5 years.

No physical residence requirement to obtain residency.

No educational attainment is required.

No interview is required.

FREE MOBILITY
A Path to Freedom

The Latvia residency visa-free travel within the Schengen area without further documentation or visas.

Eligibility to apply for citizenship 5 years after obtaining permanent residency.

Once Latvia citizenship is obtained, you can travel visa-free to 183 countries & territories. You would have the right to live and work anywhere in the EU.
QUALITY OF LIFE
LIFESTYLE BENEFITS

Low cost of living and high quality of life.

The right to live, work, and study in Latvia.

Education and Healthcare are free.

Latvia has a relatively low tax regime, with no capital gains tax, no wealth tax, and a low income tax..

Latvia has a very secure financial system. The country's banks are well-regulated and have a strong track record of financial stability.

LATVIA VISA FREE COUNTRIES

Latvia residency allows visa-free access to Europe including 29 countries in the Schengen zone.

33
COUNTRIES

Latvia residency allows visa-free access to Europe including 29 countries in the Schengen zone.

EUROPE
  • Austria
    Belgium
    Bulgaria
    Croatia
    Czech Republic
    Cyprus
    Denmark
    Estonia
    Finland
    France
    Germany
    Greece
    Hungary
    Iceland
    Italy
    Latvia
    Liechtenstein
    Lithuania
    Luxembourg
    Malta
    Monaco*
    Netherlands
    Norway
    Poland
    Portugal
    Romania
    San Marino
    Slovakia
    Slovenia
    Spain
    Sweden
    Switzerland
    Vatican City

*The list of countries is subject to variations depending on each government's policy and so is access to these countries.

INVESTMENT TYPE AND COSTS

Applicants have four options to acquire the Latvian Golden Visa:

OPTION 1

REAL ESTATE INVESTMENT

The investor purchases real estate property with a total value of at least EUR 250,000 and, in return, receives a 5-year residence permit.

  • Residential or Commercial Property 250,000 EUR
  • Government Fee (% of Real Estate Price) 5%

The real estate investment can be a residential or commercial property.

OPTION 2

BUSINESS INVESTMENT

The investor can invest capital into an existing Latvian company or create a new business and, in return, receives a 5-year residence permit.

  • A company with up to 50 employees & an annual turnover below EUR 10 million 50,000 EUR
  • Government Fee 10,000 EUR

To qualify for the business investment option of the Latvian Residency by Investment, the investment must be in a Latvian company.
OPTION 3

BANK DEPOSIT

Deposit into a subordinated loan or bonds of a Latvian Bank.

  • Minimum Value 280,000 EUR
  • Government Fee 25,000 EUR

The government bonds, included in Latvia residency by investment, don't provide interest or a return on the investment.

OTHER COSTS

In addition to the required investment, there are other costs for the Latvia Residence by Investment program, which are Citizenship Invest professional fees, documents certifications when applicable, courier fees, and other small disbursements. Please contact us if you wish to receive a detailed quotation outlining all costs.

APPLICATION PROCESS AND TIMELINE

  • MONTH
    1-2

    Beginning the process

    Citizenship Invest Retainer Agreement signed and first Payment of professional Fees.


    Collection of required documents and putting the file together as per Government guidelines.


    MONTH
    1-2

  • MONTH
    2

    Government evaluation and investment process

    At this stage the type of investment must selected and paid. Alongside with proof of the investment a document certifying that the necessary financial means to reside in Latvia without working must be submitted.


    Clients must travel to Latvia for biometrics taking.


    All required documents are submitted at this stage.


    MONTH
    2

  • MONTH
    3-4

    Receiving Latvian Residency

    Receive your residence permit upon approval.


    Only once approved will the Government fee be payable.


    Visit Latvia in person within three months to collect your temporary residence permit in the form of an ID card.


    Client must also visit Latvia every year to renew residency card and to to re-take biometrics even though residency permit is valid for 5 years.


    MONTH
    3-4

The estimated time to receive residency approval depends on the due diligence processing time and the specific case

DOWNLOAD
LATVIA PERMANENT RESIDENCY
BROCHURE

CONTENT
  • Program Overview
  • Residency Law
  • Benefits of the program
  • Applicants Qualifications
  • Investment requirements
  • Application Fees
  • Document Checklist
  • List of countries Visa free and on arrival
DOWNLOAD

15 pages 700Kb

Eligibility Requirements

Age

The main applicant must be at least 18 years old.

Good Character

The applicant must have a clean criminal record and pass a background check and due diligence review.

Health

The applicant must be in good health and provide a medical certificate.

Residence

Visit Latvia in person within three months to collect your temporary residence permit in the form of an ID card.

REQUIRED DOCUMENTS

Citizenship Invest provides efficient and effortless assistance in obtaining Latvian Residence. Our committed Document Collection Specialist simplifies the application process, minimising the required documentation to the essential elements. We strive to make the document collection procedure as straightforward as possible, and if needed, we take care of acquiring the documents without your active participation.

It is important to acknowledge that the requirements outlined below serve as general guidelines. Our team thoroughly assesses your case and generates a customised checklist to meet your needs. A completed request form for your permanent residence permit.

  • A completed request form for the permanent residence permit.
  • Proof of applicant’s sources of income and ability to invest.
  • In the case of family members, certified copies of marriage and birth certificates.
  • Original passport, along with a photocopy.
  • Two passport-size photos for each family member.
  • CV of investor and spouse.
  • Evidence of valid health insurance plus certificate of clearance from tuberculosis.
  • Evidence of lack of criminal convictions.
  • Utility bill not older than 3 months.
  • Proof of residential address.
  • Receipt demonstrating payment of relevant fees.
  • Documents certifying the business investment.

FAQS

Frequently Asked Questions
The Latvia Residence by Investment Program offers foreign investors the opportunity to obtain residency through several options, such as purchasing real estate, investing in a business, purchasing bonds, or investing in the subordinated capital of credit institutions.
The Latvia residency by investment program allows investors to work in Latvia.
To be eligible for the Latvia Residency by Investment program, the Main Applicant must be at least 18 years old and can include their spouse, children under 18 and parents who are dependent on the applicant.
Applicants have four investment options: purchasing real estate, investing in a business, purchasing bonds, or investing in the subordinated capital of credit institutions.
The Latvia Residency by Investment Program presents various benefits catering to potential investors. These advantages range from the right to live, work, and study in Latvia to including family members in a single application. Moreover, the absence of education attainment and physical residency requirements, combined with the pathway to permanent residency and citizenship, provide participants with a clear and favourable framework for establishing their lives in Latvia.
Latvia only allows dual citizenship for permitted countries.
It takes about 3-4 months to process a Latvia residency by investment application.
The costs involved for the Latvia residency by investment program depend on the applicant’s investment choice. The minimum cost is EUR 50, 000 + Government Fees.
The documents required for the Latvia residency by investment program include: A completed request form for the permanent residence permit, proof of applicant’s sources of income and ability to invest, certified copy of marriage certificate and birth certificates, original passport along with a photocopy, one passport-size photo, evidence of valid health insurance plus certificate of clearance from tuberculosis, evidence of lack of criminal convictions, Proof of the residential address, receipt demonstrating payment of relevant fees, documents certifying the business investment.
Applicants are eligible to apply for Latvian citizenship after 5 years of permanent residency. Applicants must pass a language exam and a history exam.
Contact Citizenship Invest, sign the Retainer Agreement, and pay the first fee to start your application today.

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