European Residence Permit in Latvia

The Republic of Latvia offers foreign investors the ability to acquire a European residence permit for a period of no less than five years. The idea behind this format is to encourage foreign investment especially through: the establishment of businesses on Latvian territory and the establishment of new residents.
In the beginning of July in 2010, Latvia was able to introduced a new law in order to facilitate obtaining a European tax residence. A residence permit is a document that provides and ensures the rights of a foreigner residing within the Republic of Latvia for either a definite period of time or permanently.
As of 2012, the permit is issued as an identification card. Therefore, it is mandatory for a potential resident to deliver a copy of their fingerprints and a digital picture prior to the receipt of the residence permit.

The residence permit of the Republic of Latvia automatically guarantees the holder(s) the ability to move freely across and within the Schengen eurozone: comprising of a total of twenty-six European countries.

Packages for Residence Permit

Investment in Credit Institution​

Deposit a minimum of EUR 280,000 into a forward account for five years and pay EUR 25,000 State Fee.

In case of adoption of the first option, the investor(s) have underlying obligation(s) with a credit institution within Latvia to be not less than EUR 280,000 and the duration of the above-mentioned transaction should not be less than a period of five years. 

The following documents are mandatory to be submitted if the investor(s) wish to receive a residence permit within the Republic of Latvia based on the requirements of this option:

Real Estate Investment​

Invest in the local real estate market for a minimum of EUR 250,000 and pay 5% State Fee.

In case of adoption of option two, investor(s) are required to have purchased and acquired ownership of a functionally related real estate, e.g. building, in the Republic of Latvia with a total value of not less than EUR 250,000.

The investor(s) has to meet such requirements:

If the investor(s) are able to meet the aforementioned requirements they are obligated to submit the following list of documents if they wish to apply for a residence permit within Latvia: 

Share Capital/Business Investment​

Investing in a company for an amount between EUR 50,000 and EUR 100,000. And pay EUR 10,000 State Fee.

In case of adoption of option three, certain conditions of this option are contingent upon on the number of employees, as well as the annual turnover of the enterprise with an annual tax:

The following documents are mandatory to be submitted if the investor(s) wish to receive a residence permit within the Republic of Latvia based on the requirements of this option:

Investment in Governments Bonds​

Investment EUR 250,000 in Government bonds, and make a payment in the State budget of EUR 38,000.

In case of adoption of option four, the acquisition of interest-free government bonds shall be done after a positive decision has been made on granting a temporary residence permit. This is the only package, which permits you to make your investment after being approved for the residence permit – it is the best and safest option if you have some doubts about being approved for the permit. 

After 5 years, the Latvian Government guarantees the repayment of your investment. 

The following documents are mandatory to be submitted if the investor(s) wish to receive a residence permit within the Republic of Latvia based on the requirements of this option:

How to submit documents​

If you are a foreigner in Latvia and want to receive a first-time residence permit:

1) Submit the documents electronically while attesting to each document with a secure electronic signature; or

2) Send the documents by post in a normal, unrecorded consignment, indicating in the application documents his or her e-mail address and telephone number for further communication.

If you are a foreigner outside Latvia:

Potential foreign residents living outside of Latvia may submit the necessary documents to the embassy of the Republic of Latvia in their given state.

After fulfilling the required criteria, the investor(s) can apply for a residence permit valid for a period of no less than five years.