LatviaResidency by Investment
- Visa-free travel within the EU Schengen Area
- Straightforward application process
- Investment starting from EUR 60,000
- No minimum stay requirement
Overview
The Latvia Residency by Investment (RBI) Program, commonly referred to as the Latvia Golden Visa, is one of Europe’s most efficient and competitively structured residency options. Launched in 2010, the program has attracted over EUR 1.3 billion in foreign capital, primarily through investments in Latvian companies and the real estate sector. Eligible applicants may also qualify through investments in government securities or deposits with Latvian banks.
Family Inclusion
The main applicant may include their spouse and dependent children under the age of 18 in the residency application. Under certain conditions, it’s possible to include unmarried adult children and parents who are financially dependent on the applicant due to disability or health reasons.
Eligibility
To qualify for the Latvian Golden Visa, applicants must meet the applicable investment requirements and satisfy the following criteria:
- Be a non-EU/EEA national
- Hold a valid passport or other recognized travel document
- Be in good health and have a clean criminal record
- Complete the required government questionnaire
- Demonstrate sufficient financial means to support themselves and their dependents without reliance on state assistance
- Pay all applicable state and administrative fees
Applicants must provide proof of sufficient means of subsistence. The minimum monthly income is EUR 500 for the main applicant for all investment options, except real estate, which requires EUR 1,500. For dependents, the required amounts are EUR 500 for a spouse and EUR 150 per child.
Validity and Permanent Residency
Successful applicants are initially granted a temporary residence permit valid for one year, which is renewable. After five years of legal residence, applicants may become eligible to apply for permanent residency, provided they have physically resided in Latvia for at least four years within the five years and demonstrate Latvian language proficiency at the A2 level.
After 5 years of permanent residency, it’s possible to apply for Latvian citizenship, provided the criteria outlined in Latvia’s naturalization laws are met.
Benefits
Visa-free travel
Multiple Investment Routes
Simple and Fast Procedure
Business and Market Access
Flexible Residency Requirements
High Living Standards
Investment Options
1. Purchase of immovable property (land for agricultural use or forests do not qualify) with a value of at least EUR 250,000
| Payable 5% of the property value into the State budget. |
| Additional Statutory Fee*: EUR 5,000 |
Purchase of the immovable property must be made through non-cash payments and owners of the property must not have any debts related to the property. An opinion letter from the immovable property appraiser is also mandatory.
2. Investment in the equity capital of the eligible Latvian company:
| Option 1: EUR50,000 in a company with less than 50 employees and an annual budget of less than EUR 10 m. |
| Option 2: EUR100,000 in a company with over 50 employees and an annual budget exceeding EUR 10 m. |
| State fee: | EUR 10,000 (to be paid after approval of residence permit) |
| Statutory Fees*: | EUR 2,000 – 4,000 |
The company must cover taxes of at least EUR40,000 per year.
| State fee: | EUR 25,000 |
| Additional Statutory Fees*: | EUR 5,000 |
| State fee: | EUR 38,000 |
| Additional Statutory Fees*: | EUR 5,000 |
* The total amount of additional statutory fees may vary depending on family size, processing priority fees, and the cost of a residential address lease.
Application Process
Bayat Group’s compliance team conducts an internal due diligence review, including background and security checks, preparation of KYC (Know Your Client) documents, and a qualification assessment of the applicant.
The team carefully analyzes the client’s profile. Once completed, the client signs a retainer agreement with Bayat Group. A tailored list of required documents is then prepared, ensuring that all unique aspects of the client’s situation are addressed.
Bayat Group guides the client in selecting the appropriate investment route and compiling the necessary documents. The application must include: Certified copy of a valid passport, Proof of financial means (bank statements, tax returns), Police clearance and medical certificates, Health insurance policy, Receipts for state fees, Investment documentation (property ownership, bank deposit confirmation, bond purchase agreement, or company shareholding certificate)
The application is submitted either in person at the Office of Citizenship and Migration Affairs (OCMA) in Riga or via a Latvian diplomatic mission abroad. The required investment must be completed prior to submission.
Latvian authorities conduct official due diligence checks. Processing typically takes 2 to 3 months. Applicants may be invited for an interview at the OCMA to discuss their application.
Successful applicants must visit the OCMA in person to submit biometrics and receive the initial residence card. The card is usually valid for one year, with the possibility of renewal for up to five years, provided the investment is maintained. Temporary residency can later be converted to permanent residency, and after holding permanent residency for five years, applicants may apply for Latvian citizenship.