Latvia
Residence by Investment
The Latvia Residence by Investment Program offers residency to individuals who make qualifying investments in Latvia.
Latvia
Residence by Investment Program
The Latvia Residence by Investment Program offers residency to individuals who make qualifying investments in Latvia. This program is designed to attract high-net-worth individuals and entrepreneurs seeking residency in the European Union.
- Population: Approximately 1.9 million
- Languages: Latvian
- Economy: Growing, with key sectors in manufacturing, services, and information technology
- Currency: Euro (EUR)
- Visa-Free Travel: Schengen Area countries
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Advantage
- EU Residence: Obtain residency in an EU member state, providing access to the Schengen Area for visa-free travel.
- High Quality of Life: Enjoy Latvia’s high living standards, quality
healthcare, and education systems. - Family Inclusion: Family members, including spouse and dependent children, can be included in the residence permit.
- Pathway to Citizenship: Potential for obtaining Latvian citizenship after fulfilling residency requirements.
- Business Opportunities: Benefit from Latvia’s growing economy and business-friendly environment.
- No Minimal Presence Requirement: Physical presence not required to renew residence permit.
Requirements
- Age: Applicants must be at least 18 years old.
- Clean Criminal Record: Provide proof of no criminal record.
- Health Insurance: Must have valid health insurance covering the duration of the stay in Latvia.
- Proof of Income: Demonstrate sufficient financial resources to support themselves and any dependents.
- Real Estate Valuation: Provide an assessment of the real estate’s value from a certified expert.
- Availability of Funds: Provide proof of sufficient funds to maintain a standard of living
Investment
- Real Estate Investment: Purchase real estate in Latvia worth at least EUR 250,000 plus a one-time government fee of 5% of the property’s value.
- Business Investment: Invest at least EUR 50,000 in a company with an annual turnover of up to EUR 10 million, or EUR 100,000 in a company with a turnover exceeding EUR 10 million. Additionally, a one-time payment of
EUR 10,000 to the state budget is required. - Subordinate Capital: Invest EUR 280,000 in a Latvian credit institution (subordinated loan or bonds) for at least five years and pay a one-time fee of EUR 25,000 to the state budget.
- Government Bond: Invest EUR 250,000 in interest-free government bonds with a one-time state budget payment of EUR 38,000
Process
- Select Investment: Choose an appropriate investment option (real estate, business, or subordinate capital).
- Document Preparation: Gather necessary documents, including proof of investment, health insurance, criminal record, and proof of income.
- Submit Application: Submit the residence permit application to the Office of Citizenship and Migration Affairs (OCMA) in Latvia.
- Review and Approval: The OCMA reviews the application, typically within 90 days.
- Receive Residence Permit: Upon approval, receive a temporary residence permit valid for five years.
- Renewal: Apply for renewal of the residence permit, if required, while maintaining the qualifying investment.