How to Get Latvia Golden Visa: Process, Requirements and Benefits

The Latvia Golden Visa offers a wide range of benefits, from visa-free travel across the entire Schengen Area to potential returns on investment.

1. Affordability

Latvia Golden Visa is one of the most affordable in Europe, with the minimum investment of just €50,000[2]. To compare, the Portugal Golden Visa program requires a minimum investment of €250,000 and the Cyprus one requires €300,000+.

2. Quick Process

It can take as little as 3 months to obtain the Latvia Golden Visa. By comparison, the Portugal Golden Visa can take 12 months or longer, while Cyprus may take 9+ months.

3. Seamless Travel within the Schengen Area

Latvia is part of the Schengen Area, which currently includes 29 countries. A Latvian residence permit allows short term travel within these countries without extra visas, as long as the stay does not exceed 90 days within any 180 day period[3].

4. Economic Opportunities 

Latvia provides access to one of Europe's most dynamic economies with low corporate tax rates, making it an attractive destination for entrepreneurs and investors[4]. Steady economic growth and a stable business environment further strengthen the country’s appeal to foreign investors.

Investing in Latvian businesses or real estate can yield significant returns due to the country's stable property market[5] and growing sectors like IT and manufacturing.

Residential property in Latvia can deliver gross rental yields of approximately 4.3 to 9.9%, with a national average of 7.9%. In Riga, yields typically range from 6.7 to 7.6% in the city centre and from 8.0 to 9.8% in the Old Town, depending on the district and property size.

National house prices are rising year on year. For example, they increased by 6.7% in the second quarter of 2025 compared with the second quarter of 2024, while prices for existing dwellings rose by 8.3%.

5. Path to Permanent Residency and Citizenship

Permanent residence may be obtained after 5 years of continuous residence in Latvia, provided the applicant maintains the investment and complies with residency and tax requirements.

The investor may request citizenship after 10 years of lawful residence, subject to language, integration, and other statutory conditions. Latvia allows dual nationality, but only for specific categories defined by law, for example when[6]:

• Latvian citizen acquires citizenship of an EU, EFTA, or NATO country, or of Australia, Brazil, or New Zealand;

• second citizenship is acquired automatically by law, through marriage, or adoption. 

Dual nationality is not permitted if a person acquires Latvian citizenship by naturalisation and their existing citizenship does not fall within the permitted categories or a specific legal exception. In such cases, the individual may be required to renounce their previous citizenship.

6. High Quality of Life

According to Numbeo’s Quality of Life Index by Country 2025[7], Latvia ranks 32nd out of 89 countries, reflecting stable living standards, safety, quality healthcare, and an affordable cost of living.

The country also has a relatively low population density, creating a calmer day to day living environment, especially outside Riga. This usually means less congestion, shorter commutes, lower noise levels, and easier access to green spaces and outdoor activities.

7. International Links 

Latvia serves as an important transportation hub in the Baltic region, with well-developed road, rail, and air infrastructure. Riga International Airport is the largest airport in the Baltics and offers direct flights to major European cities, including London, Paris, Berlin, Frankfurt, Amsterdam, and Stockholm. 

Through these hubs, passengers have convenient onward connections to destinations in North America, the Middle East, and Asia.

This level of connectivity supports both business and personal travel within the EU and beyond, which makes Latvia a beneficial location for residence and international movement.

8. Family Inclusion

The investor’s close family members can obtain residence permits alongside the main applicant. This includes a spouse and children under 18, provided they are unmarried and dependent on the investor.

9. High Level of English Proficiency

Latvian is the official language and is used in public institutions and formal procedures. However, Latvia demonstrates a high level of English proficiency compared with many European Union countries. 

English is commonly spoken by younger generations and employees of international companies, especially in Riga and other major cities, as well as in business, finance, and the service sector[8].

10. Minimum Residency Requirements

Investors who do not plan to apply for Latvian permanent residence or citizenship are not required to live in the country permanently. To maintain residence permit status, a visit to Latvia once a year is sufficient.

Despite many pros of holding Latvia residency, there are some disadvantages that you need to take into consideration:

Administrative workload. Applicants for the Golden Visa may need document legalisation and certified translations, which require extra time to prepare. Additional follow-up queries from the authorities can also extend processing timelines.

Lower income levels compared to many EU countries. Latvia’s official statistics report an average monthly salary before taxes of about €1,835 in 2025, which is lower than in most Western and Northern EU states[9].

Climate and seasonality. Winters in Latvia can feel long and humid, with short daylight hours. In Riga, January temperatures are typically around 0°C during the day and −5°C at night, while July averages about +24°C by day and +13°C at night.

To qualify for a Latvian residence permit by investment, an applicant must be a non-EU national and meet the admissibility requirements set by the Latvian authorities. Applications are processed by the Office of Citizenship and Migration Affairs.

Meet personal requirements

Investors must be at least 18 years old, have no criminal record, and demonstrate the lawful origin of funds as well as compliance with immigration requirements. Medical insurance may be required depending on the applicant’s circumstances and the chosen investment route.

Meet family inclusion requirements

Investors can include a spouse and unmarried children under 18, provided they submit documents proving the family relationship and, where applicable, financial dependency.

Prepare documents

Before applying, the investor must collect a set of documents, which usually includes the following:

• copy of a passport;

• application form;

• birth certificate;

• marriage certificate, if applicable;

• bank statements;

• certificate of no criminal record;

• passport-size photo.

Additional documents may be required depending on the applicant’s personal situation and background.

Latvia offers several investment routes for obtaining a temporary residence permit. The exact investment amount, holding period, and state budget payments depend on the chosen option.

All funds must be transferred exclusively by non-cash settlement through a licensed financial institution, in line with anti-money laundering and financial transparency requirements.

1. Business investment in share capital

Minimum value. An applicant may qualify by investing in the share capital of a Latvian company and making a one time contribution. Two options are available depending on the size of the company.

Option A: €50,000 investment. The minimum investment is €50,000 in a company that has up to 50 employees and an annual turnover or balance sheet total not exceeding €10 million[10]. A temporary residence permit is issued subject to an additional €10,000 payment to the state budget. 

Option B: €100,000 investment. The minimum investment is €100,000 in a company with more than 50 employees and annual turnover or balance sheet total exceeding €10 million. The same €10,000 state budget payment applies.

Additional conditions. To keep the residence permit valid, the company must meet statutory tax payment thresholds. Under the €50,000 option, it must pay at least €40,000 in taxes per reporting year, with a separate rule applying to the first partial year.

2. Real estate investment

Minimum value. The applicant must purchase qualifying real estate in Latvia costing at least €250,000. The value must be stated in the purchase agreement and registered in the Latvian Land Register.

Additional conditions [11]. When applying for the first temporary residence permit, the applicant must pay 7% of the purchase value as state and notary fees.

To qualify for a Latvian residence permit by real estate investment, the purchased property must meet all criteria set by the Office of Citizenship and Migration Affairs, OCMA. This includes the following:

1. Property must be located in Riga, Jurmala, and the municipalities of Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils, or Stopini. Outside these areas, an investor may purchase no more than 2 immovable properties, and they must be functionally related.

2. Qualifying investment must consist of completed real estate with a building. In some cases, vacant land is permitted, but agricultural land and wooded land do not qualify.

3. Seller must be a legal entity registered in Latvia, the EU, the EEA, or Switzerland and subject to taxation in Latvia, or an individual who meets the OCMA requirements.

4. Total cadastral value must be at least €80,000 at the time of purchase. If two properties are acquired outside the listed territories, each must have a cadastral value of at least €40,000. If the cadastral value is below the threshold, a certified appraiser must confirm a market value of at least €250,000 in total, or at least €125,000 per property if two properties are used. 

5. Applicant must have no real estate tax debts.

The investor may sell the property at any time if they no longer wish to maintain their residence permit. If they have not obtained permanent residence by that point, the sale may lead to the loss of their temporary residence status.

3. Purchase of government bonds

Minimum value. The applicant must purchase interest-free Latvian government bonds with a nominal value of €250,000[12]. The bonds are issued in accordance with national legislation and are specifically designated for residence permit purposes.

Additional conditions. A state budget payment of €38,000 must be made upon issuance of the first temporary residence permit. 

The bonds must be held for at least 5 years. They do not generate interest, and the principal amount may be returned after the holding period, subject to the bond terms.

4. Bank deposit or subordinated liabilities

Minimum value. The applicant must place at least €280,000 with a Latvian credit institution, either as a bank deposit or as subordinated liabilities, in accordance with the requirements set by immigration and financial regulations.

Additional conditions. Upon issuance of the first temporary residence permit, a state budget payment of €25,000 is required. 

The investment must be maintained for a minimum of 5 years. Any interest accrued depends on the terms offered by the credit institution and does not affect residence permit eligibility.

Holding a Latvian residence permit by investment does not automatically make an individual a tax resident of Latvia. Tax obligations depend primarily on tax residency status, which is determined separately from immigration status.

Tax residency rules

An individual is generally considered a Latvian tax resident if they spend 183+ days in Latvia within any 12 month period, or if Latvia is recognised as their primary place of residence. Investors who do not meet these criteria are usually treated as non residents for tax purposes.

Tax residents are subject to Latvian taxation on their worldwide income, while non-residents are taxed only on income sourced in Latvia, in accordance with national legislation and applicable double taxation treaties[14].

Key tax rates applicable in Latvia

For investors who become Latvian tax residents or earn income from Latvian sources, the following tax rates apply:

1. Personal income tax is applied at progressive rates of 20%, 23%, and 31%, depending on annual income thresholds and the type of income earned.

2. Capital gains tax is generally 20% on gains from the sale of shares, real estate, and other assets, subject to exemptions and treaty relief.

3. Dividends received by individuals are taxed at 20%, unless an exemption applies, such as distributions from profits already taxed at the corporate level in Latvia.

4. Corporate income tax . Latvian companies are taxed only when profits are distributed. The standard rate is 20% on distributed profits, resulting in an effective rate of approximately 25% on the gross amount.

5. Annual real estate tax generally ranges from 0.2 to 3% of the cadastral value, depending on the type and use of the property and municipal regulations.

Double taxation treaties

Latvia currently has 63 double taxation treaties in force, including with the United Kingdom, the United States, Germany, France, Spain, Switzerland, Sweden, Turkey, and the United Arab Emirates[15]. 

These agreements help prevent the same income from being taxed twice and define taxing rights between jurisdictions. They apply to investors who are tax residents of treaty countries and may reduce or eliminate taxes on income such as dividends, capital gains, interest, or employment income.

Based on a temporary residence permit, investors may apply for permanent residence and, eventually, Latvian citizenship.

Permanent residency. To obtain Latvia permanent residency, the investor must maintain the qualifying investment and reside in Latvia for 5 years. During this period, absences from Latvia must not exceed 10 consecutive months or 18 months in total.

Citizenship. To become a Latvian citizen, an applicant must have lived continuously in Latvia for 10 of the last 15 years, including the year immediately preceding the application. The applicant must also pass a Latvian language and culture exam, have no criminal record, and show loyalty to the Republic and its laws.

Living conditions in Latvia vary by location, with Riga offering the widest range of services and international amenities. Smaller cities and regional areas provide a quieter lifestyle and lower day-to-day expenses.

Quality of life

Latvia combines historic urban centres, green spaces, and easy access to nature within short distances. The country is characterised by low population density, comparatively low crime rates, and predictable administrative processes.

Riga serves as the main cultural and economic hub, while coastal and regional areas are often chosen for residential living. In international rankings, Latvia shows stable indicators related to safety, environment, and affordability, which are relevant for long term residence planning within the European Union.

Cost of living

The cost of living in Latvia is generally lower than in many Western and Northern European countries, particularly in terms of housing and everyday expenses. Average prices may vary by city and lifestyle, but typical monthly costs in Ruga include[16]:

• rent — €500 to 800 for a one-bedroom apartment; 

• utilities — €150 to 250 per month for electricity, heating, water, and waste collection, depending on the season;

• public transport pass — around €30 per month in Riga;

• taxi ride within city — €7 to 15, depending on distance;

• groceries — €250 to 400 per person per month;

• restaurant meal — €10 to 15 in a casual restaurant, €25 to 40 in a mid-range restaurant;

• mobile phone plan — €10 to 20 per month;

• Internet — €15 to 25 per month.

These figures are indicative and may change depending on inflation, energy prices, and individual consumption patterns.

Healthcare and education

Latvia operates a public healthcare system funded through social contributions, complemented by a private healthcare sector. Private clinics are widely used by foreign residents, as they offer shorter waiting times and services in English.

Health insurance is usually required for residence permit holders, costing around €300 per year. Student oriented policies are usually more affordable, starting from €25 for 400 days.

The education system includes public schools[17], private institutions, and international schools offering programs in English and other languages. For example, the International School of Riga lists annual tuition for the 2025—2026 academic year ranging from €10,500 for preschool to €18,400 for grades 9 to 12, plus a one time membership fee of €1,600.

Latvia also has accredited universities involved in European academic and research initiatives. Tuition for international students ranges from under €1,600 per year for some bachelor degrees to about €15,000 for dentistry, with typical fees of €1,800 to 3,800 for computer science and €2,000 to 6,000 for business and management.

Economic environment

Latvia is part of the European Union and the eurozone and operates under EU regulatory and legal standards. The economy includes sectors such as logistics, manufacturing, information technology, finance, and trade. Its geographic position supports cross-border business and access to regional markets.

A transparent business environment, euro denominated transactions, and integration into EU markets make Latvia relevant for investors seeking residence alongside economic or professional activity.

Transport and connectivity

Latvia has a well developed transport network, including roads, railways, and public transport systems. Public transport in Riga consists of buses, trams, and trolleybuses, providing comprehensive coverage across the city.

Riga International Airport is the largest airport in the Baltic states and offers direct flights to major European cities, as well as connections via international hubs[18]. This supports both regional mobility within the European Union and long-distance travel.

Latvia's Golden Visa program is an excellent option for wealthy individuals seeking access to the European Union. However, it is not the only Golden Visa available. Greece, Portugal, Malta, and Cyprus also offer similar options, each with its own advantages and limitations.

The Greece Golden Visa allows foreign investors to obtain a residence permit in exchange for an investment in Greece. The most popular option is the purchase of real estate, with a minimum investment of €250,000. 

There are also options like renting a hotel or a tourist residence, purchasing a land plot, timeshare, inheritance, buying securities, or opening a bank deposit.

The Portugal Golden Visa. Portugal continues to offer a residence permit by investment, although real estate is no longer a qualifying option. 

Current routes include the following:

• €500,000 investment in regulated Portuguese investment or venture capital funds; 

• €500,000 contribution to scientific research;

• €250,000 contribution to cultural heritage projects;

• €500,000 business investment combined with job creation. 

The investment must generally be maintained for at least 5 years.

Malta permanent residence by investment. Under the Malta Permanent Residence Programme, applicants may qualify by either renting or purchasing residential property, provided they meet the minimum property thresholds and pay mandatory government contributions, administrative fees, and a charitable donation.

For rental, the minimum annual rent is €14,000, together with a €37,000 contribution, a €60,000 administrative fee, and a €2,000 donation. Over the first five years, rental costs exceed €70,000, bringing the minimum total to over €169,000, excluding professional fees and household expenses.

For purchase, the investor must acquire property valued at least €375,000 and pay a €37,000 contribution, a €60,000 administrative fee, and a €2,000 donation. The minimum total is €474,000, with additional property acquisition costs.

Cyprus permanent residency requires a minimum investment of €300,000 in real estate, securities, or a company. In addition to the investment, applicants must demonstrate a stable annual income of at least €50,000 sourced from abroad, including salaries from employment, pensions, or dividends.

When choosing the residence by investment option, investors should consider financial capacity, long-term plans, and personal preferences regarding lifestyle. Professional advice from immigration and legal experts can help ensure compliance and support informed decision making.

1. Latvia Golden Visa offers a relatively affordable route to residence in the European Union for non-EU investors. 

2. With a minimum investment starting from €50,000, flexible stay requirements, and one of the fastest processing times in Europe, Latvia stands out among European residence-by-investment options.

3. The Latvia Golden Visa provides several investment routes, allowing applicants to choose between business investment, government bonds, bank deposits, and real estate, depending on their financial goals and risk profile. 

4. Investors benefit from visa-free travel within the Schengen Area, access to Latvia’s stable economic environment, and the ability to include close family members in the application.

1. Source: Residence permits, Office of Citizenship and Migration Affairs

2. Source: Investment options, Office of Citizenship and Migration Affairs

3. Source: 90/180 rule, European Commission

4. Source: Corporate income tax, State Revenue Service

5. Source: House price index, Central Statistical Bureau

6. Source: Dual nationality, Citizenship Law

7. Source: Quality of life, Numbeo

8. Source: Language skills survey, Central Statistical Bureau

9. Source: Average wage data, Central Statistical Bureau

10. Source: Business investment in share capital, Office of Citizenship and Migration Affairs

11. Source: Real estate purchase, Office of Citizenship and Migration Affairs

12. Source: Bond purchase, Office of Citizenship and Migration Affairs

13. Source: Document submission, Latvia Government

14. Source: Tax system in Latvia, PwC

15. Source: Tax treaty network, Ministry of Finance

16. Source: Cost of living, Numbeo

17. Source: Education system, Ministry of Education and Science

18. Source: Airport hub status, Riga Airport