Latvia Residence by Investment Program

Introduction

The Latvia Residence by Investment Program is one of the fastest and most competitive residency programs in Europe. Launched on 1 July 2010, it has become a preferred choice for global investors seeking secure access to the Schengen Area, a stable investment environment, and a clear path to long-term residency and citizenship.

Since its inception, the program has attracted over EUR 1.3 billion in foreign investments, significantly boosting Latvia’s economy — more than EUR 1.1 billion of which came from real estate purchases by foreign investors.

Requirements

  • Language proficiency: English or French (CLB level 5)
  • Net worth and settlement funds:

C$13,310 for a single applicant

C$24,733 for a family of 4

  • Medical and security clearance (applicant and dependents)
  • Must be over 18 years old and own a qualifying business

Investment Options

Applicants can qualify for the Latvia Residence by Investment Program through one of the following routes:

1. Company Investment

  • Commit EUR 50,000 into the equity capital of a Latvian company (company must pay at least EUR 40,000 in annual taxes)
  • Make a one-time payment of EUR 10,000 to the state budget

2. Real Estate Purchase

  • Acquire property in Latvia valued at EUR 250,000 or more
  • Pay a state fee of 5% of the property price

3. Other Financial Routes

  • Make a subordinated loan (deposit) in a Latvian bank
  • Purchase interest-free government bonds earmarked for special purposes

Proof of Financial Means

Applicants must demonstrate sufficient funds to support themselves and their family:

  • EUR 15,480 per year for a single applicant
  • EUR 20,640 per year for a couple
  • EUR 22,188 per year for a couple with one child

Eligible Dependents

Your spouse and children under 18 can be included in the same application. Dependents enjoy the same residence rights and can live, study, and travel freely within the Schengen Area.

Path to Permanent Residence and Citizenship:

After 5 years of holding a residence permit, you can apply for permanent residency (requires 4 years of physical residence during the 5-year period and passing a Latvian language test).

After 10 years, you may be eligible for Latvian citizenship (renunciation of other citizenships is required, with some exceptions).

Key Benefits

Visa-free travel across Europe’s Schengen Area

No minimum stay required to maintain or renew residency

Fast-track application process with approvals in just a few months

Widely spoken Russian language, ensuring smooth communication for CIS investors

Excellent transport links with Russia and EU member states

Eligibility to apply for citizenship after 10 years of legal residence

Attractive real estate market offering long-term growth potential

Application Process

Step 1

Eligibility assessment and document preparation

Step 2

Submission of application with proof of funds and investment plan

Step 3

Due diligence and government approval

Step 4

Investment completion and payment of state fees

Step 5

Travel to Latvia to collect your residence permit ID card