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Situated on the Baltic coast within Europe’s Schengen Area, Latvia is a captivating country with a rich history and stunning natural landscapes. Its capital city, Riga, founded in 1201, is a UNESCO World Heritage Site, showcasing its architectural and cultural heritage. With around half of its territory covered by forests, Latvia offers abundant nature trails and parks, perfect for outdoor enthusiasts. The country boasts excellent transport connections and cultural ties with both Western Europe and Russia, fostering a diverse and dynamic environment.
The Latvia Residence by Investment Program stands out as one of the fastest and most competitive programs in Europe. Launched by the Latvian government in July 2010, this initiative aimed to drive sustainable economic recovery following the crisis of 2007–2009. In the first five years since its inception, the program contributed over EUR 1.3 billion to Latvia’s economy, primarily through real estate investments made by foreign investors (note: the real estate option has been suspended since January 2022).
Under the program’s qualification requirements, foreign nationals can obtain a residence permit in Latvia by investing in the equity capital of a Latvian company, making a subordinated loan (deposit) in a Latvian bank, or purchasing interest-free government bonds designated for a special purpose. Benefits of the program include visa-free access to the Schengen Area, no minimum stay requirement for residence permit renewal, and a fast-track application procedure.
After holding the residence permit for five years, applicants become eligible to apply for a permanent residence permit. To qualify for permanent residency, candidates must have resided in Latvia for at least four years within the five-year period and have successfully passed the basic Latvian language test at Level A2. Additionally, applicants must demonstrate knowledge of Latvia’s general history and the national anthem. It’s important to note that renouncing former citizenship is generally required for Latvian citizenship, although certain exceptions may apply.
Experience the benefits of Latvia’s Residence by Investment Program, granting you access to the Schengen Area, a streamlined application process, and the potential for permanent residency. Immerse yourself in Latvia’s rich cultural heritage, picturesque landscapes, and thriving economy.
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
Who Can Get Latvia Residency – Investor
- Over 18 years old
- Have health insurance
- No criminal record or prosecution
- Not a EU citizen
- Maintenance funds requirement
- Source investment capital outside Portugal