• Latvia

Residence Permit

The Latvian Residence by Investment (Golden Visa) Program was launched in 2010 in order to attract foreign investors. This involved the grant of Temporary or Permanent Residence Permits to prospective foreign investors.

A Latvian Residence Permit is a document which allows a foreigner to reside in Latvia for a definite period of time (a temporary residence permit) or permanently (a permanent residence permit). This permit is necessary if you wish to reside in Latvia for a period exceeding 90 days.

From April 2012, the residence permit is being issued in the format of an identification card. You can acquire Latvian residence permit in any one of the following ways:

  1. By investing in the equity capital of a trusted company for 5 years, and paying government and professional fees
  2. By investing in interest-free government bonds for a period of 5 years, and paying government and professional fees
  3. By purchasing property in Latvia, and paying government and professional fees. Here, you must buy the property before application for the residence permit. Further, you must not sell the property for as long as you have the Residence Permit.
  4. By depositing money as a subordinate liability in a Latvian Bank, and paying government and professional fees

THERE IS NO AGE, EDUCATIONAL QUALIFICATION, BUSINESS/MANAGEMENT EXPERIENCE AND ENGLISH LANGUAGE PROFICIENCY REQUIREMENT

Main Applicant

  • Must be over 18 years of age
  • Have enough money in the bank to prove necessary subsistence for a year
  • Have a clean criminal record
  • Have clear source of funds

Spouse

  • Must be legally married to you
  • Have a clean criminal record

Children

  • Must be under 18 years of age at the time of application
  • Children can keep the residence permit as long as they are not married and can prove that they live together with the parents
  • Children older than 14 (but less than 18) years of age must have a clean criminal record

Other Relatives

  • Once you have received your residence permit, you can invite your relatives for visa purposes, up to and including second degree relatives

Benefits

  • Instant 5 years residency
  • Biometric ID cards issued for one year (renewable each year)
  • No minimum stay required
  • Visa free travel in the Schengen zone
  • Permanent Residence Permit after 5 years
  • Citizenship after 10 years
  • Eligible for EU citizenship after acquiring Latvian Passport