Latvia

 – Residency by Investment Program –

Date of last update – Dec 2023

Since its inception, approximately 20,000 investors worldwide have successfully entered the Latvia Golden Visa program. This initiative offers a viable opportunity for investors and their families to relocate to Latvia if desired, providing a pathway to European Union citizenship.

Embark on a transformative journey with the Latvia Residency Program, offering you an unparalleled gateway to Europe. This program stands out for its cost-effective approach, providing a unique opportunity to establish residency in Latvia while unlocking the vast potential of the European continent.

At the core of this program is the promise of travel freedom – a Latvian Residence Permit not only secures your place in Latvia but also grants you the privilege of visa-free travel across 26 Schengen area countries.

Latvia Residency Program grants you 5 years residency in as quick as 3 months, with an option to include your spouse and children below the age of 18.

Unlocking European Markets

Access to global business opportunities

Pathway to Europe

Cost-effective way to obtain EU citizenship

Travel freedom across Europe

Visa-free travel within the 26 Schengen states

Inclusion of Immediate Family

Spouse and children can be included in the same application

World-class Education and Healthcare

Access best in class healthcare services and excellent education

Book a Complimentary Consultation

Our team will help you navigate through the best programs suited for your business and personal needs, ensuring that you successfully obtain travel & financial freedom.

PERMANENT RESIDENCY PROGRAM

OPTION 1
REAL ESTATE INVESTMENT

Applicants can purchase real estate with a minimum investment of €250,000. The entire property cost must be paid through a full bank transfer. After the application is processed and approved, buyers also need to pay a state duty equal to 5% of the property’s value.

In major urban centers like Riga and Jurmala, the €250,000 minimum applies to a single property. In other regions, participants can meet program criteria by buying two properties, totaling €250,000.

After holding the property for 5 years, investors can freely sell the real estate to get back their initial investment or make a profit.

OPTION 2
BUSINESS INVESTMENT

A) Applicants have the option to invest in an existing Latvian company or establish a new business in Latvia. If the company has 50 employees or fewer and annual revenue below €10 million, the necessary investment is €50,000. For enterprises surpassing 50 employees and generating over €10 million in yearly revenue, the minimum investment increases to €100,000.

In addition to the investment, a one-time government fee of €10,000 must be paid as a prerequisite before residency is granted.

B) Set up your own business in the country and draw a salary that generates taxation of at least EUR 730 per month.
In both cases, you must hold a qualification relevant to the type of business you undertake. You can also include your partner and children under 18 on your application.

Applicants must speak English, attend an interview at a Latvian embassy, and travel to Latvia to collect temporary resident permits.

If you choose to start your own Latvian business:

  • There is no minimum investment requirement
  • There is no minimum profit or turnover requirement
  • There is no need to hire employees  


Once you have received your residency permit, you are free to register new companies or change your business type. Your permit is valid for five years, after which you can apply for permanent EU residency – with a path to full citizenship five years later.

OPTION 3
GOVERNMENT BOND

By making a €250,000 investment in eligible interest-free government bonds, investors can qualify for a Latvia Golden Visa. Additionally, there is a mandatory government fee of €38,000 associated with the visa application.

OPTION 4
BANK DEPOSITS

Investors can deposit funds into a Latvian bank. The deposited amount must be €280,000 or more, and the funds must remain in the bank for a minimum of five years.

Investors must also pay a mandatory non-refundable government fee of €25,000.

STEPS AND PROCEDURES

Sign an agreement with Knightsbridge Group to delegate us as your advisor for the application, due diligence, and legal procedures.

Submit all necessary supporting documents to the Latvian government, including a proof of income, confirmation of investment, a valid health insurance policy, and a certificate of no criminal record., with the assistance of our team of immigration lawyers.

Upon receipt of the documents by the government, the application undergoes a review process that may last up to 30 days. Following this period, the government will issue a decision on the application.

Biometric data will be collected as part of the process, and residence permit cards will be generated for each individual included in the application.

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