About Latvia
Latvia, officially The Republic of Latvia is one of three Baltic states nestled in Northern Europe that is famous for its medieval architecture, and interesting and diverse cultural scene. With Estonia to the North, Russia and Belarus to the East, and Lithuania to the South, it spans 64,589 square kilometers and is home to a population of approximately 1.8 million people. The capital of Latvia is Riga, a UNESCO World Heritage site that is famous for its extraordinary ‘Art Nouveau’ architecture, celebrated old town, and burgeoning festivals. On top of all of that, Latvia is also home to serene forests, charming beaches, and picturesque small towns, giving it a rare range stemming from developed urban cities to quaint natural beauty. Politically, Latvia is a parliamentary republic with a stable and democratic framework, and it is a member of the World Trade Organization as well as the European Union, with the Euro officially becoming the country’s currency on 1st January 2014, superseding the Lats. Latvia has boasted one of the highest GDP growth rates in Europe since the year 2000, making it an appealing destination for residency by investment. Its strategic location serves as a gateway between Europe and the Nordic region, providing investors with excellent connectivity to key markets for businesses and commerce. The capital of Latvia is Riga The currency is Euro (EUR) The current population as of 2025 : 1,858,298
Latvia
Benefits of Latvia Residence
Visa-Free Access
Visa free access to the entire Schengen Area.
For Family
Applicants can include their spouse and children under the age of 18 years.
Competitive Tax Regime
Holders of the Latvian Golden Visa will be considered non-residents if they spend less than 183 days every civil year, and do not face worldwide taxation
Limited Physical Residency Required
Golden Visa holders just need to visit Latvia on a yearly basis for 48 hours to renew their residence permit.
Pathway to Permanent Residence
Permanent Residency is obtainable after residing physically in Latvia for 5 years. Application for Citizenship can be submitted after residing physically in Latvia for 10 years.
Latvia Golden Visa Requirements
To qualify for the Latvia Residence by Investment Program, applicants must meet the following core requirements:
Applicant must successfully pass due diligence in order to apply for Latvia residency by investment program.
Applicant must be 18+ years of age.
Applicant must not have any criminal record.
Applicant must have a legitimate source of income
Latvia residence by Invesment
There are four investment options to acquire the Residence by Investment in Latvia. The first is through a company investment; EUR 50,000 equity investment in a Latvian company that:
- Annually pays at least EUR 40,000 in taxes
- Employs less than 50 people
- Has a revenue of less than EUR 10,000,000 along with a one-time government fee of EUR 10,000
Next, there is Real Estate, where an investor must pay EUR 250,000 in real estate in Latvia, along with a one-time government fee corresponding to the equivalent of 5% of the purchase price. The third option is through Special Bond Investment, requiring the applicant to invest EUR 250,000 in special purpose, interest-free bonds, along with a one-time government fee of EUR 38,000. Finally, you can obtain the residence through a bank deposit. An applicant must deposit EUR 280,000 in a Latvian bank for a period of five years, along with a one-time government fee of EUR 25,000.
Latvia Residence by Investment Application Process
The application process for Latvia Residency by investment is straightforward, and applications are currently being processed in 6 months. The application process can be divided into the following stages:
Assessment & Onboarding
- •Consult with Passport Legend’s client advisors.
- •Passport Legend’s due diligence check is conducted.
Application Submission
- •Client is onboarded and retainer fees are paid.
- •Documents are prepared and application for Greece’s Golden Residence Permit is submitted.
Application Processing
- •Application is processed.
- •Government of Hungary pre-approval is received.
- •Investment requirements are fulfilled
Background Checks
- •Latvian authorities will conduct due diligence and verify the legitimacy of the application and investment funds
Residence Permit Handover
- •Application is approved.
- •Residence Permit of Latvia is issued within 6 months.
- •Residence Permit is handed over to client by Passport Legacy’s advisors.
Latvia Residence by Investment FAQ's
HOW MANY COUNTRIES DOES LATVIA HAVE ACCESS TO VISA-FREE?
Latvia passport holders have visa-free access to the entire Schengen Region.
WHAT TYPE OF INVESTMENT WILL I BE MAKING IN LATVIA?
There are four investment options to acquire the Residence by Investment in Latvia. The first is through a company investment; EUR 50,000 equity investment in a Latvian company that: Annually pays at least EUR 40,000 in taxes Employs less than 50 people Has a revenue of less than EUR 10,000,000 along with a one-time government fee of EUR 10,000 Next, there is Real Estate, where an investor must pay EUR 250,000 in real estate in Latvia, along with a one-time government fee corresponding to the equivalent of 5% of the purchase price. The third option is through Special Bond Investment, requiring the applicant to invest EUR 250,000 in special purpose, interest-free bonds, along with a one-time government fee of EUR 38,000. Finally, you can obtain the residence through a bank deposit. An applicant must deposit EUR 280,000 in a Latvian bank for a period of five years, along with a one-time government fee of EUR 25,000.
HOW LONG DOES IT TAKE TO ACQUIRE A LATVIAN RESIDENCE PERMIT?
Applications for the Latvia Residence by Investment Programme are currently being processed in just 6 months.
WHAT IS THE NEXT STEP ONCE THE APPLICATION HAS BEEN APPROVED?
Once an application is approved, the investor must fulfil the financial requirements to complete the process. Accordingly, a Citizenship Certificate will be issued to Passport Legacy, a government-authorised agent, which will then be shared with the investor to ensure that all information is valid and correct. Once checked and approved, the Citizenship Certificate will be submitted to the passport office for Passport Issuance.
Overview of Latvia
Geographic
Latvia is located in Northern Europe, bordered by Estonia to the north, Lithuania to the south, Russia to the east, and Belarus to the southeast, with a coastline along the Baltic Sea to the west. The country spans 64,589 square kilometers, featuring diverse landscapes such as dense forests, rolling hills, pristine lakes, and over 500 kilometers of coastline. Latvia’s terrain is primarily flat, with some low mountain ranges, such as the Vidzeme Highlands.
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