Latvia Golden Visa (Residence by Investment)
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Nadia Dardón
Immigration Content Writer
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Quick Visa Facts
Visa length 1 year
Possible to extend? Yes, renewable up to 5 years if investment and requirements are maintained.
Who can apply? Non-EU/EEA nationals and their families.
Minimum Income Requirements Around €750/month for the main applicant, €150/month per child.
Time for visa applications Approximately 3–6 months.
Want to know if you can apply?
Complete a visa quiz and see if you qualify!
Considering a move to Europe that’s flexible, fast, and surprisingly accessible? The Latvian Golden Visa has become an increasingly popular gateway for investors who want to secure long-term residency in the European Union, without the high investment thresholds found in other EU countries.
Strategically located between Western Europe and the Nordics, Latvia offers more than just beautiful architecture and a thriving digital economy. Its residence-by-investment program provides a practical, business-friendly pathway to EU living, mobility within the Schengen Area, and new opportunities for you and your family.
In this guide, we’ll break down everything you need to know, how the program works, who qualifies, the investment routes available, and what you can expect during the application process.
Let’s dive in and explore whether Latvia’s Golden Visa could be the right fit for your global plans.
Latvia Golden Visa Overview
The Latvia Golden Visa (officially known as the Temporary Residence Permit under Latvia’s Immigration Law for Investors) is a government-regulated pathway that allows non-EU nationals to obtain a temporary residence permit in Latvia by making a qualifying financial investment. The program was introduced through amendments to the Immigration Law in 2010, to attract foreign capital and support national economic development.
This residence-by-investment route is overseen by the Office of Citizenship and Migration Affairs (OCMA), the Latvian authority responsible for issuing residence permits and managing immigration procedures.
Who Is It For?
The Latvian Golden Visa is designed for non-EU/EEA nationals who want to secure legal long-term residency in Latvia through financial investment. It is ideal for:
International investors seeking an accessible EU residency route.
Entrepreneurs and business owners expanding into the EU market.
Families who want residency rights for spouses and dependent children.
Individuals seeking Schengen mobility, EU business access, or a long-term relocation option.
What Does It Allow You to Do?
A Latvian temporary residence permit grants several valuable rights:
Live in Latvia with a renewable temporary residence permit (usually up to five years)
Travel freely within the Schengen Area for short stays.
Include family members such as spouses and dependent children.
Work or establish a business in Latvia.
Maintain residency with minimal physical presence requirements.
Pursue permanent residency or citizenship over time if legal conditions are met.
Latvia Golden Visa Requirements
To apply for the Latvian Temporary Residence Permit for Investors, applicants must prepare a set of standard immigration documents along with specific investment-related evidence. While requirements may vary slightly depending on the investment route, the following items are typically required for all applicants.
Basic required documents:
Completed residence permit application form.
Valid passport (with sufficient validity and blank pages)
Passport-sized photographs meeting Latvian biometric standards.
Proof of accommodation in Latvia (lease agreement, property deed, or confirmation letter)
Proof of payment of state fees.
Criminal record certificate from the applicant’s country of residence.
Document confirming the purpose of residence (e.g., investment contract or bank confirmation)
Receipt of state duty payment for processing the application.
Proof of Financial Self-Sufficiency
In addition to showing that you have made a qualifying investment, applicants must demonstrate that they have sufficient financial means to support themselves and any accompanying family members while residing in Latvia. This means providing bank statements, income verification, or savings documentation.
A general rule of thumb often referenced (based on application practice) is around €750 per month for the main applicant and approximately €150 per month for each minor dependent, though specific requirements may differ slightly depending on the investment type and family composition.
This requirement helps ensure that you will not need to rely on public funds or social assistance during your stay in Latvia.
Private Health Insurance
All applicants must hold valid private health insurance that is recognized in Latvia and covers the entire period of the temporary residence permit. This insurance should:
Provide coverage for emergency care, hospitalization, and serious medical conditions.
Be valid in Latvia (and ideally throughout the EU/Schengen Area)
Cover you and any family members included in the application.
Proof of insurance is usually submitted with the initial application and must remain valid for as long as the residence permit is in force.
Clean Criminal Record
A criminal record certificate (or police clearance certificate) is required for all adult applicants. This document must:
Be issued by the country of your citizenship (and any countries where you have lived for a significant period)
Confirm that you have no serious criminal convictions.
Usually, to be issued within the last 6 months before the application.
Be translated into Latvian and legalized or apostilled if necessary.
This requirement is designed to ensure public safety and compliance with immigration law.
Evidence of Qualifying Investment
One of the most important parts of the Latvia Temporary Residence Permit for Investors application is showing that you have made a legitimately qualifying investment. Different investment routes have distinct thresholds:
Business Investment: Generally €50,000 into the equity capital of a Latvian company with specific size and tax criteria, plus a one-time state contribution (often around €10,000). Higher thresholds may apply for larger companies.
Real Estate Investment: Purchase of property with a minimum value of around €250,000. In addition, a government fee equivalent to a portion of the property price (e.g., ~5%) is typically payable.
Financial Investment: A minimum €280,000 invested in subordinated capital of a Latvian credit institution (held for at least five years).
Government Bonds: Acquisition of interest-free government bonds with a face value of around €250,000, along with a government fee (often around €38,000) when the permit is approved.
Be sure to include official confirmation of your investment (e.g., investment contracts, bank confirmations, property deeds, extracts from the Latvian Commercial Register) with your application.
How to Apply for the Latvia Golden Visa – Step-by-Step Instructions
Applying for the Latvia Golden Visa involves several key stages, from selecting your investment route to collecting your residence permit card in Latvia. Below is a clear, structured walk-through of the entire application process.
Step 1: Choose Your Investment Route
Begin by selecting the investment option that best fits your financial strategy, such as business capital contribution, real estate purchase, subordinated bank capital, or government bonds.
Your choice will determine the exact requirements, fees, and documentation you’ll need later in the process.
Step 2: Prepare Your Application File
Once you’ve chosen your investment route, assemble all documents required by Latvian immigration authorities. This includes your general immigration documents, the necessary investment proof, and all eligibility-related records discussed in the previous section. Most applicants also need to have their foreign documents translated into Latvian and apostilled or legalized, depending on the issuing country.
Step 3: Complete Your Investment
Before submitting your application, your chosen investment must be fully executed. This means finalizing the transaction, whether it’s completing a property purchase, transferring funds to a Latvian business, depositing capital in a bank, or acquiring government securities.
Keep all official confirmations, as they form an essential part of the application.
Step 4: Submit Your Application
You can submit your Latvia Golden Visa application either at a Latvian embassy or consulate abroad or directly at the Office of Citizenship and Migration Affairs (OCMA) in Latvia. You’ll submit your complete file along with the state processing fees at this stage.
Step 5: Application Processing
After submission, your application enters the review process. OCMA checks the legality of your investment, verifies your background documents, and ensures all requirements have been met.
Processing times vary depending on whether you choose standard or expedited review.
Step 6: Receive Approval
Once approved, you will be notified by OCMA or the embassy where you applied. In some cases, you may need to provide original copies of certain documents or pay final administrative fees before your residence permit is issued.
Step 7: Collect Your Residence Permit Card
To receive your Latvia residence permit card, you must visit OCMA in person. This biometric card serves as your official proof of residency and gives you the right to live in Latvia and travel within the Schengen Area.
Stay Requirements for Latvia
One of the key advantages of the Latvian Golden Visa is its flexible stay requirements, which make it easier for investors who do not intend to move to Latvia full-time immediately. To maintain your residence permit, you are not required to live in Latvia continuously, and there is no strict minimum number of days you must be physically present each year. As long as your investment remains valid and you continue to meet the program’s conditions.
That said, applicants should be aware of a few important considerations regarding presence in Latvia. First, although strict daily minimums are not imposed for permit renewal, extended absences may affect your eligibility for permanent residency or citizenship in the future. If you plan to pursue long-term status beyond temporary residence, you will need to meet more specific presence criteria, including demonstrating actual residence in Latvia over a defined period and familiarity with the language and society.
For renewals of your residence permit, it is generally expected that you maintain meaningful ties to Latvia, such as having your investment in place, holding valid health insurance, and continuing to satisfy financial self-sufficiency requirements. Staying engaged with local tax, legal, and administrative obligations reinforces your ongoing compliance with the residence permit conditions.
Overall, the Latvian Golden Visa offers a high degree of flexibility for investors who travel frequently or maintain homes in multiple countries. However, carefully planning your physical presence, especially if you intend to transition to permanent residency or citizenship eventually, is important for long-term success under the program.
How Much Does the Latvian Golden Visa Cost?
The total cost of obtaining a Latvian Golden Visa depends on the investment route you choose, as well as associated administrative fees. While the main expense is the qualifying investment itself, applicants should also consider state fees, government contributions, and other costs involved in the process.
Typical costs for the main investment routes are approximately as follows:
Business Investment: A minimum capital contribution of around €50,000 into a Latvian company, plus a one-time government fee of approximately €10,000. Additional costs may include legal and accounting fees.
Real Estate Investment: Purchase of property with a minimum value of €250,000, along with a government fee of around 5% of the property price. Other costs may include property registration, notary fees, and taxes.
Subordinated Bank Capital: Deposit of a minimum of €280,000 in a Latvian credit institution, held for at least five years, with minor administrative fees.
Government Bonds: Acquisition of government bonds valued at around €250,000, plus a government processing fee of approximately €38,000 at the time of approval.
Additional costs to consider include health insurance premiums, translation and legalization of documents, travel expenses, and any professional fees if you hire legal or investment advisors. While these are not mandatory investments, they are often necessary to ensure a smooth application process.
Overall, the Latvian Golden Visa offers one of the more affordable EU residence-by-investment programs, especially when compared to other EU countries with higher thresholds. Planning carefully for both the investment and associated administrative costs is essential to avoid surprises and ensure compliance with all requirements.
Taxes for People with a Latvia Golden Visa
Holding a Latvian Golden Visa grants residency in Latvia, which can have implications for taxation depending on your personal circumstances and the amount of time you spend in the country. Generally, temporary residence permit holders are considered non‑tax residents unless they spend more than 183 days in a calendar year in Latvia or establish a permanent center of vital interests in the country. Non-tax residents are typically only taxed on income earned within Latvia, such as local employment or business profits.
For individuals who do become tax residents, Latvia applies a progressive personal income tax system, with rates mainly ranging from 20% to 31% depending on income level. Corporate tax in Latvia is 20% on distributed profits, and there is no separate wealth tax. Capital gains, dividends, and rental income may also be subject to taxation if earned within Latvia.
It is important for Golden Visa holders to consider the double taxation treaties Latvia has with other countries. These treaties can prevent you from being taxed twice on the same income, offering clarity for individuals who maintain investments, business operations, or property abroad.
While the Latvian Temporary Residence Permit for Investors itself does not automatically trigger full tax residency, applicants should plan carefully, especially if they intend to spend significant time in Latvia or expand business operations locally. Consulting with a tax advisor familiar with Latvian law is recommended to ensure compliance and optimize your personal tax situation.
Living in Latvia with the Latvia Golden Visa
Living in Latvia with the Temporary Residence Permit for Investors offers a unique blend of modern European convenience and rich cultural heritage. As a resident, you have the flexibility to live, work, or run a business in Latvia while enjoying visa-free travel across the Schengen Area. The program also allows you to bring eligible family members, making it an attractive option for investors who want to relocate with their spouse and children. Residents benefit from Latvia’s high-quality healthcare system, excellent educational opportunities, and a cost of living that is generally lower than in Western European countries.
Latvia combines urban lifestyle and natural beauty, offering vibrant cities like Riga with its historic architecture, thriving cultural scene, and growing business ecosystem, as well as tranquil countryside and coastal areas. For Golden Visa holders, the country’s flexible stay requirements make it possible to maintain international mobility while still establishing meaningful ties locally. Whether you are seeking a base for your business ventures, a place for family life, or access to Europe, Latvia provides a strategic and welcoming environment for long-term residency.
Best Cities to Live in Latvia
Latvia offers a variety of appealing cities for Golden Visa holders, each with its own unique lifestyle, business opportunities, and cultural offerings. Whether you prefer a bustling urban environment, historical charm, or a quieter coastal setting, these cities provide excellent options for residents.
Riga
Riga, the capital of Latvia, is the country’s largest city and economic hub. Known for its UNESCO-listed Old Town, vibrant cultural scene, and thriving business environment, Riga combines modern amenities with rich historical architecture. Residents benefit from excellent public transport, international schools, and a wide range of leisure and dining options. The city also serves as a gateway to the rest of Europe, making it ideal for investors and professionals seeking both lifestyle and connectivity.
Jūrmala
Jūrmala is a picturesque coastal city famous for its white-sand beaches, spa resorts, and relaxed atmosphere. Located just a short drive from Riga, it offers a quieter, resort-style lifestyle while still providing access to the capital’s services and business opportunities. Jūrmala is especially popular among families and retirees seeking a balance between nature, wellness, and convenience.
Liepāja
Liepāja, situated on the western coast of Latvia along the Baltic Sea, is known for its cultural festivals, music scene, and historic architecture. The city offers a lower cost of living compared to Riga while still maintaining good infrastructure, schools, and healthcare services. Liepāja appeals to residents who want a vibrant, community-focused environment with easy access to beaches and natural landscapes.
Cost of Living
The official currency of Latvia is the euro (€). €1 = approximately $1.17 USD based on current exchange rates.
The average net monthly salary in Latvia is around €1,361, which equates to approximately $1,590 USD after converting at the same exchange rate.
Here’s a rundown of what you should expect to pay in different cities:
Riga
Rent (1 bedroom in city center) – Approximately $525 per month.
Rent (3 bedrooms outside city center) – Around $620 per month.
Basic Utilities – Roughly $312 per month.
Wi‑Fi – About $17–$20 per month.
Public Transport (one‑way) – Around $1.50–$1.70 one‑way
Groceries (2 people) – Roughly $300–$500 per month
Jūrmala
Rent (1 bedroom in city center) – Around $1,047 per month.
Rent (3 bedrooms outside city center) – Approximately $1,523 per month.
Basic Utilities – Roughly $300 per month.
Wi‑Fi – About $18 per month.
Public Transport (one‑way) – Approximately $0.54 one‑way.
Groceries (2 people) – Roughly $235–$350 per month.
Liepāja
Rent (1 bedroom in city center) – Around $277 per month.
Rent (3 bedrooms outside city center) – About $421 per month.
Basic Utilities – Roughly $295 per month.
Wi‑Fi – Around $17–$18 per month.
Public Transport (one‑way) – Around $1.09 one‑way.
Groceries (2 people) – Roughly $250–$400 per month.
FAQs
What is the minimum investment required for the Latvia Golden Visa?
The minimum investment depends on the chosen route. For real estate, it’s around €250,000; for business investment, approximately €50,000 plus a government fee; subordinated bank capital requires €280,000, and government bonds around €250,000 with an additional processing fee.
Can I include my family in the Latvia Golden Visa application?
Yes, the program allows you to include your spouse and dependent children under 18. Family members receive residence permits linked to the main applicant and enjoy the same rights, including Schengen travel.
Do I have to live in Latvia full-time to maintain my Golden Visa?
No, Latvia Golden Visa holders are not required to reside in Latvia continuously. There is no strict minimum stay requirement, though maintaining ties to the country is important, especially if you plan to pursue permanent residency or citizenship in the future.
How long does it take to get the Latvia Golden Visa?
Processing times vary depending on the investment route and completeness of the application, but it generally takes 3 to 6 months from submission to approval. Expedited processing may be available in certain cases.
Does the Latvia Golden Visa lead to citizenship?
While the Golden Visa itself is a temporary residence permit, holders may eventually become eligible for permanent residency after five years and, under certain conditions, Latvian citizenship after 10 years, provided language and other legal requirements are met.
Author
Nadia Dardón is a content creator from Guatemala. She has worked fully remotely for the past six years as a copywriter, editor, and content creator, working for different industries. She started her digital nomad journey in 2022 and currently lives as an expat in Spain.
