program
Latvia Residency by Investment
Program Overview
Minimum Investment
€50,000 Business Investment
Minimum Investment
€250,000 Real Estate
Time to Residency
4-6 Months
Visa Free Access
Schengen Countries
Latvia Residency by Investment Requirements
To be eligible to apply for this program, you must be over 18 years old, in good health and without a criminal record.
Applicants are also required to make a company share capital investment or invest in real estate.
Main Applicant Requirements
- 18+ years of age
- Good health
- No criminal record
- Successfully pass due diligence checks
- Confirmed investment sources
Eligible Dependents
- Spouse of the main applicant
- Children (biological or adopted) below 18 years of age
Latvia Residency by Investment Benefits
Health & Education
Latvia has a public healthcare system, and residents are typically covered by the National Health Service. Latvia has a comprehensive education system that follows the European standards. In major cities like Riga, you can find international schools offering education in English or other languages. As a resident, these benefits are available to you.
Minimal residency required
There are no physical residency requirements for residence permit renewal.
Tax relief
Latvia has progressive personal income tax rates, flat rate for corporate income, VAT and social contributions. And levied tax for real estate and dividends.
High standard of living
Latvia has a low cost of living and utilities compared to other EU countries, and offers high-standard of goods and services.
Visa-free travel
As a resident of Latvia, you are a resident of the European Union, thus you are entitled to freedom of movement in the Schengen area.
LATVIA | Residency by Investment
Legal Basis
Acquiring a Latvian residence is set out in the immigration law and provides investors with all the rights of a Latvian resident. The residence gives applicants the right to enter and leave Latvia freely, as well as the right to travel across all European countries visa-free.
Costs of Latvia Golden Visa
Minimum amount
EUR 50,000
A one-time state fee
EUR 10,000
Minimum investment
EUR 250,000
State fee
5% of the property price
Minimum Deposit
EUR 280,000
Application Process For Latvia Golden Visa
Application Process
4-6 months
- Step 1Savory and Partners will have an initial consultation meeting with the applicant where we will check if the applicant is able to satisfy the general eligibility requirements for the Latvian residence permit. Also, we will conduct our internal due diligence check on the applicant’s profile before they sign our service agreement.
- Step 2The applicant is required to make a down payment for our professional fees to start the application.
- Step 3The applicant will have to sign an investment agreement in order to obtain Class B shares in a Latvian company and make a deposit of 50,000 euros from their personal account into the Latvian company account or purchase a property and obtain the title deed.
- Step 4The applicant is required to submit their application at the Latvian Embassy/Consulate or VFS in their country of residence or origin. Once the application is approved, the applicant will be issued a category D visa which is valid for 90 days.
- Step 5The applicant is required to travel to Latvia for their biometric appointment and medical test and obtain a temporary residence permit that is valid for 5 years from the date of issuance.
- Step 6The residency card is initially granted for 5 years and after 5 years the applicant can apply for permanent residency in Latvia if they meet the minimum legal residency requirement.
PORTUGAL | RESIDENCY BY INVESTMENT
READY TO APPLY?
Visa-free Countries for Latvian Residents
Free Circulation within Schengen Area
26 Countries & Territories
Visa-free access (26 countries & territories)
- Austria
- Belgium
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Italy
- Latvia
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
Client Success Stories
Success Stories - A safe and bright future
The problem
Our Indian client, a business owner and single parent was looking for long-term residency in a country that would ensure quality education and safety for his daughter. With a successful business set-up in his home country, he could not consider relocating as it would limit his growth opportunities. At the same time, he wanted to secure a bright future for his daughter ensuring world-class education but was also wary about her well-being and safety. Above all, recently divorced, it was challenging for the client to procure documents for his daughter.
The solution
When the client approached Savory & Partners, we considered the many sentiments involved including that of a father, a dedicated businessman and a single parent. We understood his requirement and prepared a strategy that would not only serve his personal life positively but would see his business grow by leaps.
We recommended Portugal, not just for the simplicity of obtaining a residence permit but its exceptional education system and healthcare. Portugal is known for its outstanding higher education institutions.
Portugal has a lot of different immigration options available. The passive income - the D7 visa, the newly christened Digital Nomad Visa and the option that is tailor-made for businessowners - the Portuguese D2 visa.
Our client could fulfill his residency requirements while also maintaining an active management role in his company without worrying about spending too much time outside of Portugal.
With residential flexibility of the Golden Visa, his daughter could relocate to Portugal immediately and he could fulfil his residency requirements while also maintaining an active management role in his company back home without worrying about spending too much time outside of Portugal. As of 2021, Portugal is globally ranked in the top ten in terms of ease of registering a company. Meaning our client would not only go ahead and bring his existing business to Portugal but could venture into new business opportunities across Europe.
Approaching Savory & Partners to undertake his residency application ensured that the client would have all the necessary documents for himself and his daughter ready on time. Our agents oversaw that all requirements for a successful due diligence were also fulfilled.
Download brochure
Content
- Latvia Country profile
- Benefits of the program
- Investment requirements
- Investment process
Length
4 pages
Language
English & Arabic
size
1 mb
ABOUT LATVIA
CAPITAL
Riga
TOTAL AREA
64,589 km²
POPULATION
1.884 million
LANGUAGE(S)
Latvian
CURRENCY
Euro (EUR)
EXCHANGE RATE
1 USD = 0.92 EUR
GDP – PER CAPITA (2023)
USD 15,800
GDP – TOTAL (2023)
USD 28.6 billion
About Latvia
Latvia, situated in the Baltic region of Northern Europe, is known for its rich cultural heritage and picturesque landscapes. Riga, the capital and largest city, boasts a well-preserved medieval Old Town and is famous for its diverse architecture. Latvia gained independence in 1918, endured periods of occupation during the 20th century, and re-established its sovereignty in 1991. A member of the European Union and NATO, Latvia has a growing economy and offers a blend of historic charm and modern vitality. The country is celebrated for its festivals, vibrant traditions, and the enchanting Latvian folklore.
Officially known as the Republic of Latvia, this Baltic nation is home to approximately 1.8 million people. Covering 64,589 km2, Latvia is characterized by its captivating landscapes and vibrant cultural heritage. Riga, the capital city, is not only the largest city but also boasts a rich history and dynamic urban life.
Latvia is an active participant in international organizations, including the EU, EEA, UN, NATO, OSCE and WTO. Governed by a stable political parliamentary democracy, Latvia has achieved the status of an industrialized upper-middle-income, free-market economy.
Latvia is known for its extensive forests, and the timber industry is a significant contributor to its economy. Wood and wood products, including furniture and paper, are produced and exported.
Latvia has resources such as peat and wood biomass, contributing to its energy production, including renewable energy.
With an extensive transportation network, Latvia features nearly 83,000 km of roads and around 2,300 km of railways. Riga International Airport is the only major airport in Latvia, carrying around 5 million passengers annually. It is the largest airport in the Baltic states and has direct flights to over 80 destinations in 30 countries.
Latvia is known for its relatively affordable cost of living compared to Western European countries.
The local time follows Eastern European Time (UTC +2).
The demographic breakdown indicates a population distribution with 15.8% in the 0-14 age group, 66.6% in the 15-64 age group, and 17.6% in the 65+ age group.
Latvian is the predominant language (56.3%), followed by Russian (34.6%) and other languages.
Religiously diverse, Latvia’s population comprises predominantly Christians, with Lutheranism and Roman Catholicism being the prominent denominations. Additionally, there is a notable percentage identifying as non-religious or unaffiliated.
Where is Latvia?
Latvia is the central country of the Baltic States (Estonia, Latvia, and Lithuania) and is located in northeastern Europe on the east coast of the Baltic Sea.
LATVIA | Residency by Investment
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