Latvia Golden Visa shows exceptional growth in 2024

Latvia's Golden Visa program has shown exceptional performance in 2024, with notable growth in approvals and evolving trends that reflect its increasing global appeal.

In just six months, 30 investor visas and 53 dependent visas were granted, putting the program on track to surpass its 2023 totals.

Latvia Golden Visa Statistics reveal this year’s results also highlight a significant shift in demographics and investment preferences, marking a new chapter for the program.

Latvia's Golden Visa Investment Trends Statistics:

• The €50,000 business investment option dominated with 74% of applications (22 investors)
• Real estate investment attracted 8 investors
• The €280,000 bank deposit option received no applications

This trend highlights the program’s shift toward more accessible and business-oriented investment opportunities.

Notable Shifts in Latvia's Golden Visa Applicant Demographics in 2024:

This year, Latvia's Golden Visa program showcased significant demographic changes, marking a new era of applicant trends:

• Chinese investors led with 37% of applications, achieving the highest share in program history.
• Turkish investors ranked second, contributing 23% of applications.
• Indian applicants followed with 10% of the total.

The average family size for main applicants was 1.8 dependents, that shows the program’s appeal to families seeking relocation options.

A Look Back: Dynamics from Previous Years

The picture looked different in previous years, with notable shifts in applicant demographics and preferences:

• Between 2020 and 2023, Vietnamese investors stood out, contributing to one-third of non-Russian applications.
• Earlier, from 2015 to 2022, Russian applicants led the program, dominating the majority of approvals.
• Starting in 2023, the business investment route emerged as the most favored option, largely influenced by the preferences of Vietnamese investors during their peak years.

The data suggests successful diversification of the applicant pool following Latvia's 2022 ban on Russian applicants.