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Latvia

Latvia is situated within Europe’s Schengen Area, on the Baltic coast. Riga, its capital, was founded in 1201 and is a UNESCO World Heritage Site. Approximately half of Latvia’s territory is covered by forests, offering many nature trails and parks. Latvia offers excellent transport and cultural links with both Western Europe and Russia.


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Country Information 

Latvia, one of the countries that form part of Europe’s Schengen Area, is situated on the Baltic Coast.

Population:

1.8 million

Languages:

Latvian, Russian, and Belarusian, among others

Economy:

Small and open, with highly developed transit services

Currency:

Euro





Live in Latvia with Residence by Investment

Latvia is situated in Northern Europe on the Baltic Sea. Known for its rich heritage, incredible local cuisine, and stunning mix of art nouveau and medieval architecture, Latvia attracts visitors from all over the globe. The official language is Latvian, but Russian is also widely spoken by most of the population.

Riga is the cosmopolitan capital and largest city of Latvia. Moreover, it is the political, economic, and cultural center of this small but proud country. Today, more than a third of the country's population lives and works in Riga. Latvia has been a member of the UN since 1991 and a member of the EU and NATO since 2004. In 2007, Latvia joined Europe’s Schengen Area, which brought significant benefits to the country’s citizens and residents.

Citizenship in Latvia

After five years, the holder of a temporary residence permit may apply for permanent residence. To qualify for a permanent residence permit, the candidate must physically reside in Latvia for four out of the prior five-year period and successfully pass the state language proficiency examination.

Citizenship can be obtained after five years of legal residence in Latvia if the applicant has been a permanent resident for the five years preceding the date of submission of their application. To qualify for citizenship, the applicant must physically reside in Latvia for at least four out of the last five years.

Latvia does not allow dual citizenship.






















Türkiye began full membership negotiations with the EU in 2005, having been an associate member of the European Economic Community since 1963 and having reached a customs union agreement in 1995. The country’s currency is the Turkish lira, and the official language is Turkish.


Successful applicants can enjoy citizenship of a country that boasts a mild Mediterranean climate, beautiful scenery, and a high standard of living. They also gain access to a transcontinental Eurasian country that is a stable economic, financial, and political hub between Europe, Western Asia, and the Middle East.


Full citizenship is granted to the applicant and included family members. Furthermore, successful applicants are eligible for an E-2 Investor Visa in the USA for a five-year renewable period.


Benefits of the Latvia Residence by Investment Program


  • Visa-free access to Europe’s Schengen Area
  • No minimum stay required to be eligible for the residence permit renewal
  • Fast-track application procedure
  • Russian widely spoken
  • Excellent transport links with Russia and other EU member states
  • Eligibility to apply for citizenship after 10 years of legal residence


Requirements of Latvia residence by investment

To obtain a residence permit through the Latvia Residence by Investment Program, applicants are required to fulfill the following requirements:

Commit EUR 50,000 into the equity capital of a Latvian company (provided that the company annually pays at least EUR 40,000 in taxes)
Make a one-time payment of EUR 10,000 to the state budget
In addition, applicants should demonstrate the availability of funds to maintain their family’s standard of living without having to seek social assistance from the Latvian government:
- EUR 15,480 per year for a single main applicant
- EUR 20,640 per year for a main applicant and spouse
- EUR 22,188 per year for a married couple with one child​
Alternatively, applicants can acquire real estate property in Latvia to the value of at least EUR 250,000 and pay a state fee equivalent to 5% of the real estate price.


Procedures for the Latvia Residence by Investment Program

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The members of the applicant’s family, such as spouse and children under 18, may apply for a residence permit together with the applicant. Upon approval at the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor should visit Latvia in person within three months to collect their temporary residence permit in the form of an ID card. The residence permit is valid for five years with the requirement of annual renewal of the ID card.



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Residence requirement of Latvia residence by investment

There is no minimum number of days of physical presence in Latvia required in order to renew the residence permit.


Permanent residence permit and citizenship

After five years of receiving the residence permit, the applicant may apply for a permanent residence permit. To qualify for a permanent residence permit, the candidate must have resided in the country for four years out of the five-year period and should have successfully passed the basic Latvian language test at Level A2. The applicant must also have a proven knowledge of the general history of Latvia and the national anthem. Applicants must renounce their former citizenship in order to be granted Latvian citizenship, although exceptions may apply.



Latvia Real Estate

Everything you need to know about acquiring premium real estate in Latvia and linked to the Latvia Residence by Investment Program.


Minimum real estate investment

USD 250,000

Type of​ ownership

solo Ownership

Rental income opportunity

5% 

Holding period of real estate

Minimum Five years

Latvia Residence by Investment Program frequently asked questions

The Latvia Residence by Investment Program offers residence to individuals and their families through substantial investments in the country.

Investment options include either investing in the equity capital of a Latvian company and making a one-time payment to the state budget or acquiring real estate property in Latvia and paying a state fee. Additionally, applicants must demonstrate sufficient funds to maintain their standard of living without government assistance.

Benefits include the right to live, work, and study in Latvia, visa-free travel within Europe’s Schengen Area, and quick and effective application procedure.

The minimum investment starts at EUR 60,000 to the equity capital of a Latvian company and a one-time payment to the state budget.

Processing times for residence by investment applications may vary. Please contact us to find out more.


Yes, the main applicant can include their spouse and dependent children under 18 years old.

There are no specific residence or physical presence requirements, but applicants must visit Latvia annually and confirm that they still hold their investments in the country.

Required documents include a valid passport, proof of investment or contribution, a clean criminal record, and other supporting documents.

Yes, after maintaining residence for ten years, investors may be eligible to apply for Latvian citizenship.

Applicants must choose a qualifying investment, submit the application with the necessary documents, and undergo a due diligence process. Upon approval, the investor must visit Latvia within three months to collect their temporary residence permit ID card.