Latvia
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Residence by Investment Latvia
Latvia is located in the Schengen Zone of Europe on the coast of the Baltic Sea. Riga, its central city, was established in 1201 and is a designated UNESCO Heritage Site. About 50% of Latvia’s land is forested, providing numerous nature paths and reserves. Latvia has exceptional transportation and cultural connections with both Western Europe and Russia.
Investment
Minimum investment of EUR 50,000
Processing time
One–three months from submission of the application to approval
Key benefit
To be able to work, study, and reside in Latvia
An Entrance to Europe with Latvia Residence by Investment
The Latvia Residency by Investment Schemes is among Europe’s swiftest and most cutthroat schemes. The Latvian administration inaugurated the plan on 1 July 2010 to surmount the economic calamity of 2007–2009. Five years after the commencement of the project, Latvia’s financial system obtained over EUR 1.3 billion, out of which more than EUR 1 billion was yielded from non-native investors’ realty acquisition. (The realty preference has been halted since January 2022.)
As per the eligibility criteria, non-citizens can request a residency visa in Latvia by investing in the share capital of a Latvian enterprise, providing a subordinate loan (deposit) in a Latvian financial institution, or purchasing government bonds with no interest designated for a specific aim.
Advantages of the Latvia Residence by Investment Program
Requirements of Latvia Residence by Investment
Various eligibility alternatives exist to get a residence permit through the Latvia Residency via Investment Program. Candidates can select from any of the below choices:
Purchasing special-purpose zero-interest bonds at a nominal value of EUR 250,000, along with a one-time fee of EUR 38,000 to the state
statement.
Methods and Duration of Latvia's Investment Immigration Program
The paperwork handling takes roughly 30-90 days. Family members of the petitioner, like partners and offspring below 18 years, can request a residency license concurrently. When authorized by the Office of Citizenship and Migration Affairs of Latvia, the investor must arrive in Latvia within 90 days to secure their provisional residence permit with an identification card. The residency license remains in effect for five years, with an annual identification card renewal prerequisite.
Residence Requirement of Latvia Residence by Investment
Physical presence in Latvia is optional to renew the residence permit.
Permanent Residence Permit and Citizenship
Following five years of obtaining the residency permit, the petitioner can seek indefinite residency. Eligibility for indefinite residency requires a minimum of four years’ residence in the nation and passing a basic Latvian language test at the A2 level. Additionally, the aspirant must exhibit knowledge of Latvia’s general history and national anthem. Latvia permits citizens of NATO member states dual nationality as their second citizenship.