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Latvia

Latvia is a Baltic country in Europe and one of the fastest-growing economies in the European Union. It is a member of the EU and the Eurozone, as well as a Schengen country, thus attracting the attention of investors and entrepreneurs. For many, the main advantage of Latvia's residence permit is that you can enter other Schengen countries without a visa or other formal registration. Additional advantages of Latvia's residence permit include:

  • The ability to invite non-immediate relatives for visit visas
  • Simplified visa application procedures for some non-Schengen countries (such as the US, Canada, New Zealand, etc.)
  • Automatic residency permits for your spouse and children
  • Access to discounted or free education within the EU
  • Freedom to pursue new business opportunities within the EU
  • Enjoyment of the same social welfare and rights as Latvian citizens (except for voting and electoral rights)

Property Investment

Property investment immigration is the most effective way for applicants to obtain approval from the Office of Citizenship and Migration Affairs of Latvia, with the highest approval rate, to obtain a residence permit for a period of five years, which can then be further extended to permanent residency. According to the law, there are several requirements that must be met:

  • The total purchase price must not be less than €250,000
  • The purchase contract and land registration certificate must be completed in the name of the applicant
  • Cadastral value of the property must be higher than €80,000
  • The applicant must use personal funds for payment - this does not mean that you cannot obtain a loan or financial assistance from another person or institution, but these funds must be in the purchaser's personal account before the purchase.
  • Payment must be made in non-cash form, i.e., funds need to be transferred via bank transfer.

Business Investment

Investing in business to obtain immigration status is most suitable for those who wish to establish or expand their business within the European Union and take advantage of the various conveniences that come with having legal residency within the EU, especially in terms of travel. Latvia, as a member of the EU and the Schengen Area, offers particular convenience in terms of travel for immigrants.

  • The first option is to invest over €50,000 euros in the equity of a Latvian company. However, to meet this smaller investment, there are additional requirements: you must invest in the equity of a joint-stock company or a limited liability company, and this company must pay annual taxes of at least €40,000 euros.
  • The second option is to invest €150,000 euros in the equity of a Latvian company (either a joint-stock company or a limited liability company). While this option requires a larger initial investment, the advantage is that there is no requirement for the amount of taxes the company must pay annually. The company must employ at least 50 employees and have an annual turnover of at least 10 million euros.

Financial Investment

Investing in Latvian banks is often a superior choice for immigration applicants, especially for those who seek to obtain immigration status while ensuring stable investments and guaranteed returns, rather than exposing themselves to the risks of fluctuating returns associated with investing in real estate.

  • You need to deposit at least €280,000 into the bank in the form of subordinated capital and pay a government fee of €25,000. 
  • Subordinated capital is funds that the bank borrows from customers, with a minimum term of 5 years. 
  • Banks typically bear all risks. They pay you interest, so this may be a good, low-risk way to ensure your investment returns and gradually increase your capital while obtaining residency. 
  • The interest rate will be agreed upon in advance, effectively guaranteeing the amount of your investment returns.